West End back on form

Last year, we blogged about the West End losing its spot as the world's most expensive office location. But according to a report produced by DTZ, the West End is back on top after knocking last year's number one, Tokyo, off its perch. The agent attributes this to a sharp rental correction in 2008, whilst others in the top four experienced rental decline.

Perhaps the City won't be too far behind in years to come, as CB Richard Ellis predicts a sharp rise in rents over the next three years. With only c.820,000 sq ft to complete in Q1 of 2011, CBRE forecasts a return to pre-recession prices by the time the Olympics is staged in London.

For more information, see Nathan's Property Finance blog.