Office occupiers are getting the best deals ever, delegates at this year’s Office 08 conference have heard.
In a debate, which concluded occupiers were not getting a ‘raw deal’, Gerald Kay, development director of Helical Bar, made a clear case for those renting.
Property Week reported he said: ‘Building costs have gone up three fold over the last 20 years. Rents have stayed the same."
"The quality of buildings is much better and the services have improved. From our viewpoint, occupiers are getting a good deal and it is us poor developers who are getting a raw deal."
He was supported by head of property at Schroeders, William Hill and deputy chairman of DTZ in the UK, John Forrester.
Despite conflicting opinions on the rental market, all sides agreed they could do more to improve the relationship between tenants and owners of commercial property.