The Credit Crunch has clearly affected the profile of buyers with overseas individuals becoming more evident as the year progressed. Funds generally withdrew from the market and property companies were frustrated at the lack of available borrowing from the cautious lending banks.
Rental growth in Victoria has finally showed signs of slowing. Take-up remained good however, with limited supply of new or refurbished space. Tenants from a wide variety of sectors continued to be attracted to the area with financial, media groups and IT joining the tradition of oil companies, governments, quangos and solicitors. A record of £82.50 per sq ft was paid by Google at Belgrave House, Burberry signed at Horseferry House as their headquarters. Daniel Edelman, the American media group, took 32,000 sq ft at Southside on a single floor.
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