double whammy for London high street estate agents ,Business Rates , Elisabeth line to push up London office costs
Occupancy costs in offices across London and the South East are set to rise due to a combination of the new Elizabeth Line and the government’s business rates revaluation. Research by residential and commercial property firm JLL predicts that occupancy costs for grade A office space that is in close proximity to stations on the new line will inevitably be pushed up when it officially opens in 2017. With the next business rates revaluation due to come into effect on 1st April 2017, many occupiers will see their expenditure on occupancy costs rise. According to the research, a number of areas in central London which sit on the route of the new Elizabeth Line will experience particularly big jumps in the cost of grade A offices. Unveiling of the Logo for Elisabeth line by HRH Queen Elizabeth II The likes of Paddington which is estimated to see an average rise from £14.40 sq ft to £30.31 sq ft, Stratford (up to £17.47 sq ft from £8.16 sq ft) and Whitechapel (£16.09 sq ft to £2...