Prime rental values across the North London & Herts office market have remained stable across all locations over the past 12 months, with only limited occupier activity occurring in the market. In fact, the majority of locations have remained stable since the pandemic, illustrating the general weakness in the market. The only locations to see any uplift over this period have been Welwyn Garden City, where rents are up to £23.50 per sq ft and Hoddesdon/Cheshunt where values are up to £17.50 per sq ft. Capital values on owner occupier\ freeholds have slipped by 9.4% over the past 12 months, with all of the fall occurring over the latter six months.
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Peter Higgins
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