Rents of serviced offices could be on the rise

Rents of serviced offices could be on the rise 26th August 2010

The rents of serviced offices are likely to rise in the short term, according to one expert.

Michael Rhydderch, partner at real estate adviser Cushman and Wakefield, said the UK commercial property market has rebounded significantly since it fell during the economic downturn.

Some value remains for those seeking offices to let, he continued, but a lot of it has been "captured" in the last year.

"A lot of people do see the potential for rents to rise, therefore justifying the prices that some people are currently now paying," Mr Rhydderch commented.

He remarked he foresees a short-term increase in rents and therefore a growth in capital values, but it is not certain whether there is enough momentum in the industry to sustain this.

Mr Rhydderch added the UK market is more volatile than the majority of its continental European counterparts.

The latest Savills Commercial Development Activity revealed activity in the sector increased by 0.6 per cent in July, up from minus 2.8 per cent in June.

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