At the same time there has been a 30% increase in leasing activity, due largely to a small number of key deals including Lazards' acquisition of 142,000 sf at Mayfair place and WS Atkins 92,000 sf deal at the Euston Tower. And by the end of the second quarter King Sturge calculates there was 383,200 sf under offer, up 30% on the level a year previously.
The highest headline rent achieved over the quarter was £75 ($115) per sf paid by Lazards at Mayfair Place. Space of this quality would previously have fetched £80 ($122) per sf, and according to the influential IPD index, West End rents fell by -1.6% over the quarter.
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