Rent-free periods on the rise in parts of City fringe office market

Graph – change in London office rent-free periods Q1 2018 vs Q1 2019

Rent-free periods have risen in parts of the City fringe as landlords struggle to maintain headline rents in the face of competition from landlords in the City of London, data from Carter Jonas reveals.

In Farringdon and Shoreditch, rent-free periods have increased 9.1% in the year to Q1 2019.

Michael Pain, head of Carter Jonas’s tenant advisory team, says the reason for the increase is that “over the past 12 to 18 months, many property developers and investors in the City of London have been pushing hard to attract tech companies away from the Shoreditch, Clerkenwell and Old Street areas.

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