“Knowledge is power” is a quote most commonly attributed to Sir Francis Bacon but the principal is even more important in today’s economy.
Strong demand for office and lab space in the ‘Golden Triangle’ outside of London continues to push up rents. The first half of 2017 has seen prime office and lab rents in Cambridge and Oxford surge ahead as the UK continues to refocus towards the ‘knowledge’ economy.
Prime office rents in Cambridge shifted up by 2.7% to £38 per sq ft in the first six months of this year, whilst Oxford saw a staggering rise of 7.1%, with rents growing to £30 per sq ft.
On the counter side, Central London office rents moved into reverse, with prime rents in the City of London down by 6.7% to £70 per sq ft in h1 2017, whilst West End rents are down by 12.5% to £105 per sq ft.
Download the following two reports from Bidwells for their complete view of the office and lab market in Cambridge and beyond.
Sarah Brereton, Director, Limewash
01223 813 557