West End office interiors 'are most expensive'

Office design news from Morgan Lovell

Published on 21-01-2010

Office space in the West End of London has regained its position as the most expensive in the world.

According to research carried out by DTZ, the West End experienced a short, sharp rental correction in 2008 which saw the area fall sharply in the ratings to fifth last year - behind Paris, Dubai, Hong Kong and Tokyo, Property Week reported.

However, gradual rental decline in these cities over the last 12 months has seen the West End regain the top spot in 2010.

Tony McGough, global head of forecasts at DTZ, said: "The volatile London City market is expected to see a strong bounce back in occupier costs during 2010 due to a lack of supply and a returning demand for space."

Elsewhere in the capital, Property Week recently reported many multinational businesses are fighting it out for office space in London due to a lack of new developments in the pipeline.

Posted by Ian Johnson.