Prime London office market is 'cutthroat'

Office design news from Morgan Lovell

Published on 04-04-2011

The London office market is particularly "cutthroat" at present due to the impact of the recession and the recent harsh winter when many tenants were not prepared to move.

Ed Mead, director at Douglas & Gordon, said despite some properties seeing extremely high demand and selling for a premium in the present market, the majority of office and commercial property in the capital is struggling to see interest.

He commented: "What you have is a cutthroat market with some prices at astronomical levels and everybody else struggling."

Mr Mead noted that there are currently just a few people benefitting in what is a very difficult market to operate.

According to a recent report by the Buying Solution, prices have risen by approximately ten per cent on the best in class properties in all price ranges (£1 million and above) since the beginning of the year.

Posted by Ian Johnson