Jun 25, 2015
The London tube map can help you to identify the top rental growth areas and Alex Peace from the Estates Gazette has mapped out the fastest growing hotspots.
The Docklands Light Railway tops the list, where the past 12 months have seen office rents along this route rise by 14.3%, with the highest growth levels seen through the City. The Central line follows in second place, with office rents having risen by 13.8% within the same 12 months period – which has been driven by exceptional rental growth in Soho at an average of £15 per sq ft.
The rental growth seen throughout the City has forced occupiers towards outer fringe locations. Since the core areas of office space in London are rising by £5 to £10 per sq ft, it is wise to consider options in wider, yet accessible areas of the London tube map.
Vik Sharma of Stuart Neils said: “Now is the perfect time for growing firms to snap up offices in City fringe areas with unmodernised offices, in order to benefit from the gradual redevelopment of such locations. Yes, the rents are likely to rise over time, but occupiers should take advantage of the lower rents, whilst they are still available – who knows what the future may hold!”
This news was brought to you by Stuart Neils, commercial property consultants and surveyors with over 40 years experience specialising in search, negotiation and project management exclusively for tenants.