London’s West End still most expensive place for office space

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AN annual international office survey has shown that London’s West End remains the most expensive place in the world for desk space.

The research by DTZ, published yesterday, says that the West End of London is now almost a third more expensive than the second most costly location, Hong Kong.

While London has seen office prices continue to rise, many others have seen the cost of workstations fall with Moscow being the city to see the sharpest decline.

James Maddock, Head of Global Occupier Services in EMEA at DTZ, commented: “London’s West End continues to power ahead as the most expensive City on the planet to have a desk and there are no signs that this will slow in the near future. The lure of London remains strong for occupiers who see the value of having space in one of the world’s major financial and business centres.”

He added: “It will be interesting to see the debate around the proposed EU referendum and what this means for London’s position as a destination of choice for many of the world’s major corporations.”

Top 10 Most Expensive Cities, USD per workstation 2014

London (West End) $29,340
Hong Kong $21,110
Lagos $19,080
New York $19,020
Zurich $15,210
Geneva £15,160
San Francisco $15,070
Luxembourg $14,370
Paris $13,690
Doha $13,509

Elsewhere on Search for London office space available to rent.

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