London office demand 'diminishing'

04-08-2008

Rental income from office layouts in London is expected to fall by 20 per cent in the next two years, it has been claimed.

Choregus.co.uk reported that a recent study by the British Council of Offices has found that inflated prices in the region are due to come down as the economic downturn takes further hold.

It noted that at present, rental costs in the capital were up to 70 per cent higher than other cities, including Mumbai, Moscow and Tokyo and is currently the most expensive city in the world to rent an office layout.

Furthermore, the report noted that prior to the economic downturn a number of office developments were underway, meaning that now there is a glut of offices in a market which is finding it harder and harder to support its current level.

Elsewhere in the capital, it was recently reported that a tower block in Islington has had a wind turbine installed as part of continuing efforts by local councils to improve sustainability in the area.

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