The price of prime office space in London differs significantly based on location. More central areas, including the West End, Marylebone and Knightsbridge, tend to have prime rents more than double the cost of areas on the outskirts.
London office rents - most expensive in Europe
When placing London alongside other major cities in Europe, the West End area of London had annual prime rents over 800 euros per year higher than Paris. In the United Kingdom (UK), average rental costs in the capital fair outweigh those of other areas. Outside of London, the major cities saw prime office rents ranging between 26 British pounds per square foot and 39 British pounds per square foot.
Prime Yields
Prime yields assess the return on investment expected for commercial real estate. In 2023, prime yields ifor office real estate stood between 3.75 and 7.5 percent. During the same year, office prime yields in several other areas in Europe saw far greater returns on investment.
Prime headline office rental costs in London from 2022 to 2023, by area
(in GBP per square foot)
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Knight Frank. (February 20, 2024). Prime headline office rental costs in London from 2022 to 2023, by area (in GBP per square foot) [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/323023/real-estate-prime-office-rents-in-london-rental-cost/
Knight Frank. "Prime headline office rental costs in London from 2022 to 2023, by area (in GBP per square foot)." Chart. February 20, 2024. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/323023/real-estate-prime-office-rents-in-london-rental-cost/
Knight Frank. (2024). Prime headline office rental costs in London from 2022 to 2023, by area (in GBP per square foot). Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/323023/real-estate-prime-office-rents-in-london-rental-cost/
Knight Frank. "Prime Headline Office Rental Costs in London from 2022 to 2023, by Area (in Gbp per Square Foot)." Statista, Statista Inc., 20 Feb 2024, https://www-statista-com.ezproxy.canberra.edu.au/statistics/323023/real-estate-prime-office-rents-in-london-rental-cost/
Knight Frank, Prime headline office rental costs in London from 2022 to 2023, by area (in GBP per square foot) Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/323023/real-estate-prime-office-rents-in-london-rental-cost/ (last visited November 10, 2024)
Prime headline office rental costs in London from 2022 to 2023, by area (in GBP per square foot) [Graph], Knight Frank, February 20, 2024. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/323023/real-estate-prime-office-rents-in-london-rental-cost/
