Central London office rents will climb the most since 2000 this year as tenants compete for a dwindling amount of space, according to BNP Paribas SA’s real estate unit.
Average rents will jump 17 percent to 655 pounds ($998) a square meter from 560 pounds at the end of 2014, the broker said Tuesday in a statement. Vacancies in the West End district will drop to 3.5 percent, the lowest ever recorded, BNP Paribas Real Estate said.
