A new report by CB Richard Ellis has found that the difference in prime office space costs between the West End and the City is at its widest ever level . Within the West End, the headline figure is actually skewed upwards by two sub markets which demand prime rentals of £120.00 per sq ft - Mayfair and St James's.
Prime rental costs in the City stands at only £65.00 per sq ft. The City faces competition from Docklands and new developments on the South Bank, whilst West End tenants are less likely to look at other areas. The research says "top prime rents of the West End are being driven by a relatively small number of tenants that have strong preferances for very specific locations in the West End".
Mayfair Serviced Offices