Offices to rent in London 'costing more'12th July 2010

Businesses looking for offices to rent in London could be faced with higher prices following increases in the last few months, it has been revealed.

The latest report from NB Real Estate found that office rents in the City have increased by 12 per cent for the second consecutive quarter, following two-and-a-half-years of falls.

In addition to this, the amount of available space was found to have decreased by 28 per cent in the last year.

James Gillett, director of City offices at NB Real Estate, said: "Two successive quarters of such strong rental growth is without precedent. It underlines just what a rollercoaster ride the commercial property market and the City has been on during the past two years."

Firms could find a move to a serviced office to be of benefit to their business during the ongoing economic uncertainty as it may allow their company to run more smoothly.

Office Space in Town client Sally Good, general manager at Decipher Impact, recently described the service her company has received as "second to none".

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