Landlords have struggled to shift large London offices this year, as nerves over hybrid working and higher interest rates continue to plague the upper end of the market. Only a few office buildings in London have sold for over £100m in the first half of the year, an analysis from CoStar found, none of which were in the City. Property giants Great Portland Estates (GPE) and Derwent have both put expensive buildings on the market only to find deals fall through or that they have to pull them from the market after offers fell short of expectations. The higher interest rate environment of the last two years has pushed down on top-line prices of commercial property, as market players struggle to afford the upfront cost of the property and any credit servicing. ✍️ Ali Lyon Continue reading here 👇 https://lnkd.in/dJ4aeq7G
Aimen Shahid
2w
Greetings everyone! We help companies and people get offices/workplace around London. We've helped companies around the world grow. Just let us know the city in London, where you want to rent or purchase an office, we will surely help you. If this is something you're interested in, or you know someone who might be interested in it, feel free to contact me at email mentioned below. Aimen Shahid Business Development Executive [email protected]
All Chance
1w
Hybrid working really trigger some impact.
Bruno Pace
2w
To be expected but Landlords need to be more creative in the use of space and terms to survive a competitive market, those that do will survive into the medium to long term.
Senior Materials Controller
6dMany cities have a significant amount of vacant office space, especially post-pandemic, which shoud be repurposed for housing. Central, well-connected areas with good transport links make them very desirable and quicker to convert than building from scratch