slicedcake
Activist
Posts:296
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| 18/07/2008 9:46 AM |
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How can the UK hope to be competitive if these office space costs are right?
I'd expect commercial space costs change in a similar way to those for residential costs (
UK 4 times the cost of US
Figure 60: Office Rents: Total
Occupation Costs in Capital Cities (€ per sq metre per
year), 2004
http://www.forfas.ie/ncc/reports/ncc_annual_05/ch03/ch03_03.html |
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Asteve
Activist
Posts:930
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| 18/07/2008 9:51 AM |
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Massive currency devaluation.  |
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Magrathea
Activist
Posts:434
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| 18/07/2008 1:31 PM |
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| The UK is a picture of total economic failure. Over the last ten years nearly all the surpluses have ended up in the hands of people owning office space and rows of slum tenements; there were hardly any surpluses getting through to the people actually creating the wealth. So people stopped trying to create wealth and instead either bought real estate (to receive welfare type 1) or went on the sick or dole (to receive welfare type 2) |
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slicedcake
Activist
Posts:296
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| 18/07/2008 1:40 PM |
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Property devaluation to a sensible level and then HPI steady at a rate equal to CPI would help.
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plainservice
Concerned Citizen
Posts:93
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| 20/07/2008 5:28 PM |
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This is just crazy!. The survey talks about "PRIME" locations in London. Yet the title of this post is renamed to "UK" space costs?. These are two different things!!!.
It does not surprise me that prices are through the roof in prime London locations. There are lots of companies that want the Prestige of a W1 postcode. Also, lots of registered and corporate offices are in central london.
Look at IKEA, it has giant superstores throughout the country, but its registered office is in Central London (Holborn). Does it need to be there?. Who knows? I am sure they could relocated out of town if they wanted to?. I have noticed there are lots of companies that do the same thing. They don't carry on their 'trade' in these West End offices, but they have corporate offices there... (I hope people get te meaning...).
The office space in the rest of UK is more reasonably priced compared to prime london location.
This is why lots of new office space has come up in Canary Wharf....
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slicedcake
Activist
Posts:296
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| 27/07/2008 3:49 AM |
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| Yes, some places will be more than others, and some will be rising while others are falling in cost, but the problem is that space costs are basically too high in all UK areas. This has put the UK cost of living up to silly levels. I know it's an unpleasant term, but parasitic seems like an appropriate word for much of the business activity of property trading & letting. |
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