Historically, the summer quarter is a quieter time for the serviced office industry due to the holiday season. We traditionally expect to see a drop in viewings and deals done over the summer months whilst employees, tasked with looking for space on behalf of their bosses, as well as the decision makers themselves, are away on vacation.
With the Olympic and Paralympic Games beginning at the end of this month and lasting throughout August, this year it is possible that the industry will see an even more apparent drop in office deals, particularly in central London.
Discussing the effect of the Olympics on London office space deals, Easy Offices Director, Andrew Hogan, commented: Ă˘â‚¬Ĺ›I think clients will be sensible and keep away from London if they can; there’s been enough warning to do so from Network Rail and Transport for London. Also the staff that sell the offices will obviously be affected as well.
Ă˘â‚¬Ĺ›We have not seen a drop in enquiries for London much up until now as clients could view without disruption but this month will see a change as the Olympics start. There may still be enquiries during July and August but it’s the viewings that will drop, which will surely mean a drop in the amount of business done as no-one takes an office without seeing it first.Ă˘â‚¬ĹĄ
On the plus side, Easy Offices has seen a rise in the demand for short term office space in and around London fringe areas from companies looking to temporarily relocate during the Games.
While central London viewings may become problematic during the Olympics there are also a number of alternatives for searching clients. Some London-based office operators are gearing up to help clients avoid Olympic congestion by setting up show offices at their London fringe locations. Of course the new Ă˘â‚¬Ĺ›street viewĂ˘â‚¬ĹĄ application on the Easy Offices website is also a great way for clients to get a really good view of offices and to make up a short list of options from the comfort of their desk, whist avoiding the London crowds.
We can pre-arrange office viewings up to several weeks in advance so, for companies wishing to discuss a London requirement in further detail, please call 020 3773 2893.
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