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The average area occupied per fee earner in the 100 largest London law firms (ranked by space occupied) has reduced by 5% since 2012 to 490 sq ft, costing £22,400 per annum in 2014, according to the latest research by CBRE, the global property advisor. In the third of CBRE’s Law in London series, 83% of respondents surveyed stated that their firm is considering strategies to reduce property overheads (up from 76% in 2012), however, 69% expect to see growth in their London headcount over the next three years.
Following a strong end to 2014, the pace of capital and rental value growth across the UK decelerated significantly in January. According to the latest CBRE Monthly Index, capital values for All Property increased by 0.4% in January, lower than December’s 1.2%. Rental value growth also slowed and nationally was recorded at 0.2% in the last month. As a consequence total returns for the month were 0.9%, the lowest level since June 2013.
Come and visit the CBRE Reinstatement Cost Assessments Team at stand 96 at the Airmic conference 2014 in Birmingham 16th-18th June. The Airmic conference is one of the biggest events for the insurance and risk management industry, with this year’s theme around “Shaping the Future of Risk”.
Having had a wide range of cities play host to the annual BCO Conference, 2014 see’s the well established event head to Birmingham for the three-day industry conference. With the theme ‘Leading for Change’, the 2014 conference will explore the evolving office sector focusing on new ways of creating modern and innovative environments for people to work in.
Latest research from CBRE Residential reports a significant proportion of London-specific residential investors are now appraising built-to-rent opportunities in cities such as Manchester, Birmingham, Bristol and Leeds.