Welcome to

Our Knowledge Centre combines a unique set of useful tools to assist ALL office movers. Use our moving guides, office space calculator, dynamic rental map and other tools to get an idea of what type of office your company needs. We’ll make sure you get there.
Register for FREE now and get full access.


A recent completed acquisition by Morgan Pryce

29th May 2013

A recent completed acquisition by Morgan Pryce

Morgan Pryce recently completed an acquisition of 1,250sq ft of office space in the heart of Moorgate of the city. The current tenant occupying the space was offering a sublet of 3 years to July 2016 for an extremely low rent. After a handful of negotiations Morgan Pryce managed to achieve £3 per square foot off the quoting terms along with 5 months’ rent free period, an extremely healthy rent free for such a short term certain. 

With the rent achieved in the low 20’s and a healthy rent free period, you would expect to be looking at £35 to £40 per square foot inclusive. However, offices in the city rents still seem to drop and consistently achieve in the low 20’s. On the other hand, business rates and service charges remain high. The business rates were last set in 2008, right at the top of the market when the property market was booming and rents were readily being achieved at £35 to £40 per square foot, but since the government has now pushed back plans to re-assess the business rates, they still remain in the late teens, early 20’s valued off the 2008 rate able values. The service charge is another cost which will remain high in the City. Most office buildings in the city will have at least one lift and usually has a receptionist in the lobby which immediately pushes the service charge towards the £10 per square foot mark.  

Tom lax from Morgan Pryce believes the best deal in Central London is in the City; ‘as the tech boom is happening and everyone is looking for the converted warehouse space of Shoreditch, the modern conventional office space of the City has seen much less demand, resulting in falling rents. The new skyscrapers being developed has also led to the larger tenants holding off their move in to the new space which has therefore delayed everyone else moving which results in rents dropping significantly.’

Morgan Pryce is a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.

Login and get FULL AND FREE ACCESS to our unique Knowledge Centre.

Morgan Pryce treats personal information safely and securely. Read more about how we store and protect information in our ​Privacy Policy​.

Forgot your password?

Please enter the email address used to create your account and follow the instructions to recover your password.

Didn’t receive an email? Check your spam inbox!

Create Your Account

Instructions have been sent to

Well Done!

Please check your inbox for a confirmation email.
You can manage your account details, email alerts and shortlists directly from your account.

or continue browsing


Thank you for confirming your email address! You are now subscribed to our Newsletters.

By continuing your browsing on our site, you agree to the use of cookies to perform visit statistics. Read more about our ​Cookie Consent Policy.