Stat of the day: £100

The price office rents on Savile Row are expected to reach per square foot, according to the Telegraph.

by Elizabeth Anderson
Last Updated: 09 Oct 2013
An interesting point from the Telegraph this morning: apparently, the price of an office in London’s prestigious Savile Row is about to reach the price of a decent suit – which suggests investors’ confidence in the West End is returning to the levels seen before the recession…

Office rent on Savile Row, the Mayfair street famous for its traditional menswear and bespoke tailoring, is expected to break through the £100 per square foot mark shortly.

D2 Private Development, the property company which owns a 100,000 sq ft building on Savile Row, has let almost 8,000 sq ft of office space to a US hedge fund for £97.50 per sq ft. And it’s now expected to whack that price up to more than £100 for the next investor. Meanwhile, office rents in the City of London are still at a relatively low £55 per sq ft. Sounds like a bit of a stitch-up, etc…

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