London office rental heat map

Cluttons’ Central London Office Rental Heat Map for Q4 2014 shows that, once again, the West End is at the forefront of office rental costs in the capital. Rental rates are now at £110 per square foot, nearly twice as expensive as rates in the City, which come in at £60. Even in nearby Kensington and Chelsea, you can find a prime office space for half the price of the same in the West End, with average per square foot at £55. The reductions increase further away from the West End, with both Docklands and Stratford offering rents below £40 per square foot for premium office space. Cluttons' Partner Adrian Goldney said: "Our Commercial Property Market Outlook for Q4 2014 suggests that for investors, office space in the capital is still fairly priced, with all areas bar the West End still cheaper in capital value terms than the market peak pre-financial crisis. With falling yields expected in the West End, the City and the City Fringe, the opportunity to achieve high total returns is considerable."