2025年7月投资收益率指南

A P R-2 5M A Y-2 5J U N-2 5J U L-2 52.75%-3.00%2.75%-3.00%2.75%-3.00%2.75%-3.00%4.50%4.50%4.50%4.50%6.50%6.50%6.50%6.50%7.00%7.00%7.00%7.00%10.00%10.00%10.00%10.00%7.50%7.50%7.50%7.50%9.00%-9.00%-9.00%-8.75%-9.00%10.00%-10.00%-10.00%-9.75%-10.00%10.00%-10.00%-10.00%-10.00%-5.25%-5.50%5.25%-5.50%5.25%-5.50%5.25%-5.50%6.50%-6.75%6.50%-6.75%6.50%-6.75%6.50%-6.75%5.50%5.50%5.50%5.50%6.50%-6.75%6.50%-6.75%6.50%-6.75%6.50%-6.75%6.00%-6.00%-6.00%-6.00%-6.00%-6.00%-6.00%-6.00%-4.75%4.75%4.75%4.75%5.75%5.75%5.75%5.75%4.50%4.50%4.50%4.50%8.00%8.00%8.00%8.00%9.00%9.00%9.00%9.00%This yield guide is for indicative purposes onlyand was prepared on 08 July 2025.Click here to view previous data Knight Frank IntelligenceS E C T O RJ UL-2 4OfficesCity Prime (10 years)5.25%-5.50%West End: Prime Core (Mayfair & St James's)4.00%West End: Non-core (Soho & Fitzrovia)4.75%Major Regional Cities (10 years)6.50%Major Regional Cities (5 years)7.50%Secondary, Regional Cities11.00% +South EastTowns (10 years)7.25%South EastTowns (5 years)8.25%Secondary,South EastTowns11.50% +South EastBusiness Parks (10 years)8.00% +South EastBusiness Parks (5 years)10.50% +Warehouse& IndustrialPrime Distribution / Warehousing (20 years [NIY], higher OMV/index)5.00%Prime Distribution / Warehousing (15 years, OMRRs)5.50%Secondary Distribution (10 years, OMRRs)6.00%Greater London Estates5.00%South EastEstates5.25%Good Modern Rest of UK Estates5.50%Good Secondary Estates6.75%-7.25%SpecialistSectorsCar Showrooms (20 years with indexed uplifts & dealer covenant)6.00%Budget Hotels London (20 years, 5 yearly indexed reviews)4.75%Budget Hotels Regional (20 years, 5 yearly indexed reviews)5.50%Student Accommodation Prime London (25 years, Annual indexation)4.25% +Student Accommodation Prime Regional (25 years, Annual indexation)4.50% +Healthcare (Not for Profit Operator, 30 years, Annual indexed reviews)4.75%Healthcare (SPV credit, 30 years, Annual indexed reviews)5.75%Data Centres (Leased, 15 years, Annual indexation)5.00%Life Sciences (15 years)4.75%Income Strips (50 years, Annual RPI / CPIH+1% RRs, Annuity Grade)3.75%Ground Rents (125 years, Annual RPI / CPIH+1% RRs,<15% EBITDA cover, Vacant Possession cover <40%)3.25%Prime Yield Guide–July 2025Based on rack rented properties and disregards bond type transactions A P R-2 5M A Y-2 5J U N-2 5J U L-2 55.25%-5.50%5.25%-5.50%5.25%5.25%4.00%4.00%4.00%4.00%4.75%4.75%4.75%-4.75%-4.50%6.50%6.50%6.50%6.50%7.50%7.50%7.50%7.50%11.00% +11.00% +11.00% +11.00% +7.25%7.25%7.25%7.25%8.25%8.25%8.25%8.25%11.50% +11.50% +11.50% +11.50% +8.00% +8.00% +8.00% +8.00% +10.50% +10.50% +10.50% +10.50% +5.00%5.00%5.00%5.00%5.25%5.25%5.25%5.25%6.00%6.00%6.00%6.00%4.75%4.75%4.75%4.75%5.00%5.00%5.00%5.00%5.00%-5.25%5.00%-5.25%5.00%-5.25%5.00%-5.25%6.50%-7.00%6.50%-7.00%6.50%-7.00%6.50%-7.00%6.00%6.00%6.00%6.00%4.50%-4.75%4.50%-4.75%4.50%-4.75%4.50%-4.75%5.00%-5.25%5.00%-5.25%5.00%-5.25%5.00%-5.25%4.00%4.00%4.00%4.00%4.25%4.25%4.25%4.25%4.50%4.50%4.50%4.50%5.75%5.75%5.75%5.75%5.00%5.00%5.00%5.00%4.75%4.75%4.75%4.75%4.00%4.00%4.00%4.00%3.50%3.50%3.50%3.50%This yield guide is for indicative purposes onlyand was prepared on 08 July 2025.Click here to view previous data Prime Yield Guide–July 2025Knight Frank IntelligenceL E A D I N GI N D I C A T O R SSterling hits 3-year high against the dollar.Sterling has appreciated to around $1.36, its highestlevel against the dollar since early 2022, driven by broad US dollar weakness and signs of resilience in theUK economy. UK CRE has continued to attract capital from key global markets. Japanese investment isup +146% YTD, Australian inflows have surged +612%, and UAE capital is up +1,631%.Long-term institutional capital steps back into UK CRE.Pension fund investment into UKcommercial real estate surged +366% YoY in H1 2025, with Sovereign Wealth Fund inflows also rising+140%. This momentum signals growing conviction from long-term capital. Oil-backed sovereign funds,in particular, maydiversify into CRE to hedge geopolitical risk and secure stable, long-term income.AI adoption in Real Estate remains low, but the opportunity is growing.Only around 25% ofreal estate businesses are currently using AI, according to the latest ONS BIC survey. While uptake hasbeen slower than in tech-forward sectors, this also highlights significant scope for future growth. Thispresents a clear opportunity to transform how the built environment is managed.B O N D S&R A T E SJ U L2 0 2 4A P R2 0 2 5M A Y2 0 2 54 J U L2 0 2 5Bank of England Base Rate5.25%4.50%4.25%4.25%5-year SONIA Swap Rate3.89%3.73%3.65%3.68%10-year Gilt Redemption Yield4.16%4.45%4.51%4.55%10-year Indexed Gilt Yield0.63%1.16%1.26%1.49% mailto:lisa.attenborough@knightfrank.comThis yield guide is for indicative purposes onlyand was prepared on 08 July 2025.D E B TM A R K E T–7 J u l y 2 0 2 5I n t e l l i g e n c eL a bClick here to view previous dataUK’s Modern Industrial Strategy: Cleanenergy and sustainability takeawaysRetail Renaissance 2025–Lesson #4