Organisations looking to secure a good deal for new offices in the UK should perhaps make their move as soon as possible.
The DTZ Global Occupancy Costs: Offices report - now in its 15th year - has revealed that occupancy expenses at some UK corporate spaces have declined. One contributing factor is the ongoing eurozone crisis; however, the value of commercial
London offices is still holding up well compared to other business hubs.
While the UK's occupancy costs have fallen, London is among the top five most expensive office locations in the world, along with Geneva, Hong Kong, Zurich and Tokyo.
European destinations in countries affected by the eurozone crisis are expected to feel more significant consequences, with the organisation predicting occupancy costs will sharply decrease in Milan and Rome over the next two years.
However, some good deals can still be had by businesses looking to snap up UK offices, as DTZ noted rents would fall here if any countries were asked to move away from using the euro.
The second half of 2011 was a stronger year for
central London offices than the first six months, a recent Knight Frank report noted.
During the final quarter of 2011, take-up of offices in the capital hit 3 million sq ft, with availability tumbling by nine per cent over the year.
Posted by David Hudek
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