Slough is top of the rent league table for industrial space, but London is still in the lead for retail rent, according to Jones Lang LaSalle’s (JLL) latest survey of rents across the UK.
The JLL 50 Centres research, published this week, compares prime rents in 50 towns and cities in England, Scotland and Wales over the six months to 31 March.
The results showed industrial rent reaching a high of £107.64 per sq m (£10 per sq ft) in Slough, £2.69 per sq m (25p per sq ft) above Woking and Guildford, which came second, reflecting an overall increase of 5.8% during the six months covered by the survey.
Naomi Couchman, a researcher at JLL, said: “Economic uncertainty in the US has not detrimentally affected the industrial market to date, although it remains to be seen whether this situation will continue for the next six months.”
The office sector was affected by the downturn, with Hammersmith and Maidenhead achieving the highest rents at £376.75 per sq m (£35 per sq ft), a slight decrease on the previous six months.
Retail rent growth also slowed slightly to 1.1% in the six months under survey, and 3% over the year to 31 March. JLL reports that coffee shop chains and mobile phone shops provided much of the retail rent growth for smaller premises, while many larger prime sites were taken by fashion stores, such as Mango and Zara.
Top rents reflected this, with the highest, at £6,189.45 sq m (£575 per sq ft), having been in London’s fashion quarter on the Brompton Road, SW3. Outside London, the highest zone A rent was £3,390.74 per sq m (£315 per sq ft)
EGi News 09/07/01
