Sitting within the WC1, WC2 postcode catchment area, Midtown is the central region separating the City and the West End. The area is currently benefiting from high occupancy levels, with reports of increased letting figures within the district. A recent article by Property Magazine Estates Gazette, reported that office take-up in the area had “reached 710,000 sq ft in the three months ended 30th June” a figure exceeding the previous quarter by 24%.
Easy Offices wanted to know what it is about Midtown that continues to attract so many businesses…..could the current recession mean that, with clients keeping a watchful eye over their purse strings they are opting for the midtown area over potentially more expensive West End or City alternatives?
We spoke with Dawn Oldfield of Targetspace regarding their ever-popular centre on New Oxford Street situated in the heart of the Midtown area. Having enjoyed particularly high occupancy levels for the last six months, the centre is currently cruising at 100%, I asked Dawn why she thought the property was so successful “it’s a combination of price and location” she told me.
In terms of location Targetspace seem to have got it spot on; it takes clients 12-15 minutes from Oxford Street to reach the city and they are within close proximity of a number of tube stations, communication links could not be better. Offices are also competitively priced and offer occupants fully-serviced accommodation to a high standard, “it is also about having a great centre of course,” continued Dawn “we have the Wow factor in the reception, an on site cafĂ© and the conference centre on the 18th floor with fantastic views”.
I asked Dawn what kind of clientele they tend to accommodate, “We used to have companies in the Media Design area…..now with the smaller occupiers it is a mix of industry”.
Taking Targetspace’s property as a guideline for success, it would seem that Midtown’s ongoing popularity is, as Dawn put it, due to a combination of price and location but also, perhaps, the fact that Midtown is not limited to any one industry as an area of business. Currently attracting a variety of companies across the board, the district allows providers a wider scale from which to recruit new occupiers who seem willing to come from far and wide and from all types of business to invest in offices here.
In regards to the City and West End markets I asked Dawn about conditions elsewhere in the central London market. Controversial to current rumors of a suffering market due to recession-induced slumps, Dawn told me that as far as Targetspace was concerned, while they had felt the market shift, occupany levels were still relatively good and they were maintaining good work station rates.
Targetspace currently offer two serviced office centres in Central London, the details of which are listed below, should you be interested in visiting either of these properties, subject to availability, please give us a call today on 020 3773 2893, or for further details on services offered at the properties please click on their respective links. You can also take a look at our main website where you can search for serviced lease opportunities throughout the entire of the UK and London, click here to be taken to our free search engine service.
New Oxford Street, Targetspace’s popular Midtown property which offers fully serviced accommodation and extensive conferencing facilities on the 18th floor. For further details please click here.
Located at St Mary Axe, these offices are fully-furnished and unbranded with onsite meeting rooms, offices are available in various configurations. For further details please click here.
We’ll have to look into this