Rents increase

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UK rents increased by 2.1 per cent in the year to March 2007, according to Jones Lang LaSalle’s latest 50 Centres Report.

Rents in Cambridge and Watford increased the most dramatically by 12.9 per cent and 11.8 per cent respectively. This took rents in Cambridge to £8.75 per sq ft and to £9.50 in Watford. However rents in Park Royal fell by 2.9 per cent to £10.05 per sq ft while in Woking they dropped by 2.6 per cent to £9.50 per sq ft. But in Oxford the fall was most dramatic with a whopping 6.2 per cent fall to £7.50 per sq ft.

The highest rent recorded was £11 per sq ft in Slough and the lowest £4 per sq ft in Hull and Tyneside. Heathrow was not included in the report.

The report concluded that rents are expected to grow by 1.7 per cent over the next five years.

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