Higher costs for those looking for offices to rent in London20th July 2010

Those looking for offices to rent in London may find themselves affected by a rise in costs.

A report from Jones Lang LaSalle indicated that lease space in the West End climbed in price for the first time in three years as hedge funds looked for a declining amount of space in Mayfair.

It reported that annual rents for the best offices rose to £85 per sq ft in the second quarter of this year from £75 in the previous three months.

Jonathan Evans, head of Jones Lang's West End leasing and development agency, said: "We have witnessed a real sea change in the West End over the past couple of months."

He predicated a further price increase to £87.50 will be seen by the end of the year.

Shaf Rasul, a dragon on Dragon's Den online and a judge for the 2010 Orange Leader of the Year Award, recently suggested that it is now more important than ever for bosses to show strong leadership.

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