The fourth annual Central London office seminar was held at BAFTA in London on 11th November 2009, with a large number of developer and investor clients gathering to hear Jones Lang LaSalle’s market insights and guidance on this most essential of commercial property markets. The key message conveyed is the necessity to act on opportunities now, rather than waiting in the wings.

Paul Guest, Head of EMEA Research looked at the economic outlook, outlining a series of factors which should contribute to a gradual economic recovery.

Bill Page, Head of UK Offices research provided forecasts for the Central London office market, covering Jones Lang LaSalle’s views on where rents are heading, what will happen to prime yields and total returns as well as the significant impact that business rate increases will have in specific London locations which clients must take advice on. For further advice on the impact of business rate increases visit our Rating service site.

Head of Real Estate Workout EMEA, Richard Stanley, addressed the issue of banks and the opportunities available through distress, putting forward the view that UK banks are being more considered about their problems, more sales from banks are likely in the coming year.

Neil Prime, Lead Director of Markets Group and Damian Corbett, Head of West End Markets, demonstrated how Central London investment is experiencing significant international interest and highlighted potential areas of future out-performance. On the occupational markets front, recovery has clearly been slower, but all signs now indicate that with the lack of a development pipeline, acute Grade A space shortages will be seen by 2012 and that developers need to begin to build again.