Central London office interiors 'could regain value'

Office design news from Morgan Lovell

Published on 22-12-2009

Prime central London office space could regain its lost value over the coming months and be as valuable as it was in the pre-credit crunch era by the end of next year, it has been claimed.

Naomi Heaton, chief executive officer at London Central Portfolio, said modern office design space in the capital is likely to witness a boom over the coming months, as the country exits recession and demand for office areas continues to grow.

She commented: "There is a desire and a demand factor which underpins central London even when times are bad ... It is transparent, they [know] what they are investing, they know it has got long-term growth and they will get a yield."

According to research by Primelocation.com, the average prime London property price stood at £1,091,596 in December 2009 - up by 7.9 per cent on December 2008, but down by 0.5 per cent compared to November this year.

Posted by Adrian Norman.