A new high has been achieved for office rents in Oxford city centre. Ground-floor accommodation at King Charles House, Park End Street, owned by Green Templeton College, has been leased at £30 per sq ft in a deal arranged by leading commercial property specialists VSL & Partners.
It is the latest example of prime office accommodation reaching new peaks this year with another development in St Aldates also seeing significant rises. A systematic refurbishment has taken place and the building has now achieved rents between £27.50 per sq ft and £29 per sq ft on four separate lettings.
Tom Barton, director at VSL & Partners, said: “Record office rents in Oxford city centre are being achieved thanks to historic low levels of supply and continued demand.
“£30 per sq ft will now be the new benchmark for rents in the city centre.”
The building at 58-60 St Aldates was bought by Vantage Property Limited Partnership at the beginning of this year when rents were at £23.50 per sq ft.
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