Commercial Rents Collapse

Landlords in Mayfair and St James are feeling the pinch as commercial rents have fallen by 30%. That’s the finding of NB Real Estate in new research reported on by the Independent. It shows that average rents fell from £120/sq ft to just £85/sq ft across last year. The likely cause for this has been the impact of the global economic malaise on the hedge fund community, which is centered around Mayfair.