Industry News - Commercial Property Law - West End rental prices 'collapse'

12/03/2010
Stonemason companies urged to adhere to personal injury employment law
Stonework companies in the London area have been urged to ensure they have appropriate health and safety measures in place to prevent personal injury in the workplace.

12/03/2010
Tribunal makes ruling on holiday leave pay
An employment tribunal has made a ruling which experts believe could open the floodgates for more claims from employees.

11/03/2010
Farmer's amended will overturned by judge's decision
A judge has made a ruling that will see the second will drawn up by an elderly farmer overturned in favour of an earlier document.

11/03/2010
Police female recruitment drive 'is discriminating against men'
A police drive to recruit more women could have a discriminatory effect on men, it has been claimed.

11/03/2010
Men 'are more likely to become insolvent than women'
New figures have revealed that men are more likely to require the use of an insolvency lawyer than women.

Industry News

12/01/2009
West End rental prices 'collapse'

Rents for prime offices in London's West End have slid amid the woes of hedge fund managers, according to reports.

Property consultancy NB Real Estate has found that rents in the area fell by around 30 per cent last year, from a high of £120 per square foot at the end of 2007 to £85 at the same time in 2008.

James Gillett, director of Central London markets at NB Real Estate, said: "Investment banks and commercial banks have had it tough, but hedge funds are having an even tougher time."

Mr Gillett that the boom in the hedge fund sector meant they "paid scant regard" to the costs of the property they were taking on and they were prepared to outbid any competitors to secure prime properties.

However, the downturn has forced hedge funds to cut costs and renegotiate rental deals down.

Hedge fund Permal Investment Management Services holds the record rent of £140 per square foot in the West End for offices based at St James's Square, it has been reported.
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10/03/2010
UK commercial property 'is looking increasingly attractive'
A large proportion of commercial property investors plan to increase their portfolio during 2010, new research has found.

08/03/2010
Insurance 'still essential for vacant commercial properties'
Investors building up a business or currently in the process of seeking tenants for their commercial property have been warned that they must have a valid insurance policy in place in the meantime.

04/02/2010
Investors 'are returning to commercial property market'
Investment in the commercial property sector across the UK and Europe is set to increase over the coming year, according to the Royal Institution of Chartered Surveyors.

03/02/2010
Demand for London commercial property 'on the rise'
London commercial property investors are to experience rising demand for office space rentals in the coming months, according to a new report.

02/02/2010
London commercial property 'becoming more attractive'
Commercial property in London is becoming increasingly attractive to investors during the current upturn in the market, according to research.

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