Headline rents in the City have reached well above £40 a sq ft (£431 a sq m). But elsewhere, the recovery of new, well-located prime offices is hesitant, according to Healey & Baker.
Rents have grown 12% following a 37% slump since the late 1990 peak. But they are still well below their zenith.
Nationally, office rents fell by nearly 42% in real terms and have recovered 2.6% of lost ground over the past year, falling slightly in the last two quarters. Prime high street rents fell 13% during the recession but are now back to 1989 levels. New ground is expected to be broken in the next few months. It is likely to be 1998 before the industrial sector reaches new heights.
- The Daily Telegraph 09/12/96 page 24
