Heathrow is still the world’s most expensive location for industrial property and London’s West End remains the dearest for office occupiers, despite the problems in the UK market, according to King Sturge’s latest research.
However there has been a fall in global transactions in the first half of 2008, the King Sturge Global Industrial & Office Rents Survey found.
The total occupation cost for industrial space in Heathrow is £18.80/sq ft – no change from last year, roughly in line with the less than 1% rise in global industrial occupational costs in the first half of 2008.
In the West End, total occupational costs are £136/sq ft for office space. Global office occupation costs rose by 3.2% on average per city.