New data has revealed consistent rental growth in the Wimbledon office market, with rents at £55 per sq ft.
The rental levels put Wimbledon ahead of nearby Richmond and on a par with Hammersmith. The supply is centred around the Wimbledon station.
The data was published by Knight Frank. Partner Will Foster said: “With high-value residential on all sides, the commercial core is constrained.
“Merton Council is openly inviting applications for commercial towers – if anyone was bold enough to deliver one. In the clever refurbishments undertaken, rents have reached £55 per sq ft already, with space in legals set to go higher. Wimbledon is, therefore, now up there with Hammersmith and ahead of Richmond, the usual comparison town.
“Accessibility and amenity have always been Wimbledon’s key strengths, rather than the ‘tennis factor’. The proof is the youthful working population at Unibet, Coty and DomGen who commute in from across South and West London.
“Although Centre Court Shopping has been sold and the Debenhams is gone, The Broadway remains a very vibrant A1 and A3 retail pitch, bringing the future prospect of a shrunken shopping centre.”
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