UK modern office design 'an attractive investment'

Office design news from Morgan Lovell

Published on 04-02-2010

Commercial property in the UK could be an attractive proposition for overseas investors, it has been claimed.

Oliver Gilmartin, senior economist at the Royal Institution of Chartered Surveyors, said prime modern office design space has fallen in price over the last year and this is one of the reasons that European investors are now interested in property in the UK.

He commented: "Obviously with the pound declining around 30 per cent against the euro in the last couple of years, UK real estate has become quite an attractive investment."

Mr Gilmartin added, however, that future price rises in the London office market are intrinsically linked to a recovery in the global marketplace.

According to Knight Frank, rental costs for prime London offices are set to increase by 19 per cent over the course of 2010.

The firm noted average rents will likely rise from £44 per sq ft in 2009 to £52.50 per sq ft by the end of the year.

Posted by Ian Johnson.