Britain's expensive offices

Citation

(2003), "Britain's expensive offices", Work Study, Vol. 52 No. 5. https://doi.org/10.1108/ws.2003.07952ead.007

Britain's expensive offices

Office costs in the UK are the highest in the world and are topped by those in London's West End, according to a new survey. The report by property consultants DTZ found office space in Edinburgh is now dearer than in Hong Kong and New York, and it reveals that Birmingham and Manchester have joined the top ten most expensive business locations. London's West End and City, and central Tokyo remained the world's three most expensive office locations, despite reduced occupancy costs.

The ten most expensive locations – defined as average cost in US dollars (approximate sterling value) per square of 10,000ft² lease – were:

1. 1.

   London (West End) £91.12;

2. 2.

   London (City) £73.66;

3. 3.

   Tokyo (central wards) £57.08;

4. 4.

   Paris £50.56;

5. 5.

   Edinburgh £41.80;

6. 6.

   Birmingham £40.31;

7. 7.

   New York City (midtown) £39.01;

8. 8.

   Moscow £38.70;

9. 9.

   Hong Kong £36.83; and

10. 10.

    Manchester £36.34.