The West End is apparently the most expensive place for businesses. Picture: Stefan Rousseau/PA
West End ‘priciest for businesses’, study says
Friday, January 25, 2013
6:30 AM
The West End has overtaken Hong Kong to become the most expensive business district in the world, according to a new study by property consultants.
DTZ said it cost around £15,000 a year to provide a work station for an employee in the area, more than three times the global average.
The study of 126 business districts in 49 countries included rents, property tax and maintenance costs.
Costs fell by almost 11 per cent in the United States last year, driven by a reduction in the amount of space allocated to workers.
Richard Howard of DTZ, said: “These figures are a tangible reflection of the fact that London is a highly attractive place to locate a business.
“It should be observed, however, that the West End alone has many different characteristics and price points, and there are areas of the West End that can be occupied at a marked discount to prime Mayfair rents.”
More Business
- G4S boss Nick Buckles to retire
- London Finance Commission report welcomed by political and business groups
- Give capital more financial freedom, says London Finance Commission report
- £700,000 fund to boost trade for London businesses with overseas markets
- Entrepreneur swaps spreadsheets for jams to create Rubies in the Rubble
- Federation of Small Businesses asks what is stifling firms in north east London
- War on Want campaigners call for compensation for Bangladesh building collapse victims
- G4S boss paid £1.19million in 2012, despite Olympic Games contract handling
- London Fire Authority staff win four-year campaign on wage deal
- Business awards searching for firms with “outstanding stories to tell”
- Deborah Meaden and Dame Vivienne Westwood searching for green entrepreneurs
- VIDEO: Small businesses encouraged to do battle against the dragon
- New director general Tony Hall takes up post at the BBC
Around the Web See all
Sweet! London skyline made out of sugar cubes
It might look sweet, but a sugar cube recreation of London’s skyline is not for eating.
0 comments