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Eversheds comment: Scarcity allowing London towers to defy slowing global economy

  • Global
  • United Kingdom

    20-04-2016

    Commenting on news that office rents in London’s skyscrapers rose almost 10 percent in the second half of last year, Bruce Dear, head of London real estate at Eversheds, says:

    "There is a floating city above London in the Canary and City tower clusters. Space in these towers is scarce and high status, like high-rise white truffles. So the towers' rental market obeys different laws to the rents of ground dwellers. Ultimately, scarcity is allowing these towers to defy the slowing global economy."

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