Real estate

Rising costs to encourage London office occupiers out to the regions

Offices - The new decade will see a trend of office occupiers moving away - SantanderCB

New research from commercial property consultancy Lambert Smith Hampton suggests that the next decade will see a trend of office occupiers moving away from London to major cities outside the capital.

The 2016 edition of the company's annual Office Market Report highlights the growing difference in premises, staff and housing costs between central London and the UK's other key cities.

For cities such as Bristol, Manchester and Birmingham, staff and premises costs for a new-build office collectively amount to just over £50k per workstation. Measured on the same basis, a workstation in London's Midtown area carries an annual cost of well over £80k.


Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

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