Office rents in London skyscrapers up 10% in H2 2015

Berlin

OFFICE rents in London's skyscrapers rose almost 10 per cent in the second half of last year as city-centre vacancies fell to a 15-year low, according to an index compiled by broker Knight Frank LLP, and are set to continue climbing.

Annual skyscraper rents in the UK capital surged to US$126 per square foot (psf) because of rising demand for prime office space amid a supply shortage, the 21-city index showed. That was the biggest increase in the index and follows a similar gain in the first half. Hong Kong, the most expensive location, gained 3 per cent to about US$263 psf.