Here at Easy Offices we have been commenting recently on the demand for Residential Property in the Capital and how some Landlords are considering moving away from Office Space and instead focusing on the higher returns available from the Residential Market. So if Office Rentals are at their lowest for years are they low enough to entice would be Entrepreneurs and Business Start Ups?
Without doubt, the vast majority of all our sales enquiries are for Serviced Offices in London’s West End followed closely by Companies looking in the Square Mile for a London City Office, but in such a large City certain areas perform better and hold their prices than others. The Offices near Bank have always been popular and the enviable position in the heart of the Financial District ensure that the pricing remains fairly stable. Although the City has been affected by the economic downturn it has remained more buoyant than the Canary Wharf Office Market.
The West End has a large variety of districts that are as diverse in their culture as they are with their pricing. Mayfair Offices, set the standard with a higher than average price when compared to the rest of the West End Office Market. Governments traditionally are still spending in a downturn so it’s no surprise that we are still experiencing a very healthy number of enquiries for Businesses looking for Offices in Victoria where many State Departments are located.
When looking to start a Business or open a new Project Office cost is always a key feature, at the start it’s often the most important factor when deciding upon a base. Many companies look at more cost effective solutions in some of the outlying areas around London that offer the convenience of good transport routes into Central London but without some of the inherent costs. Renting an Office in Hammersmith offers you three Tube Links and a Mainline Rail option, a Serviced Office in Chiswick will allow you access into London on the underground as would an Office in Richmond.
London has always been and will always be the one of the most popular Cities in the World due to the abundance and variety of businesses that call it home. If you’ve been put off by the pricing before then it just might be worth having another look, you might be pleasantly surprised?