Serviced Office Space

Prime Locations for Office Space, Central London

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A dusk view of St Paul’s Cathedral from the middle of Millennium Bridge. Image at LondonOfficeSpace.com.

Selecting an office space in a prime Central London location is a strategic choice that can add value to a company’s image. In addition to offering practical benefits like easy access and enhanced networking, office space in a prime Central London location fosters credibility and demonstrates commitment to high professional standards.

In this article, we take a look at some of the most sought-after office locations in Central London and explore the unique features that make these locations stand out.

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The Best Postcodes in Central London for Your Office

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Dusk view down the River Thames of the illuminated Tower Bridge spanning the river with a purple and blue cloud-strewn sky in the background and riverbanks lined with buildings with postcodes in Central London.

Following the widespread adoption of remote work during 2020 and 2021, the majority of industry sectors are returning or have already returned to the office.

During this period, employee expectations regarding the office environment have changed. For example, many companies now report that staff increasingly demand shorter commutes, dedicated collaboration and relaxation space within the office, and upgraded amenities.

As a result, many business owners are considering downsizing and/or relocating their offices so the new location meets the needs of existing staff and future hires.

Since location is a key consideration, let’s look at what the most desirable central London postcodes are for your office in 2023 and beyond.

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The Best Business Parks in London

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Central London office space can be costly, especially for small to medium-sized businesses and start-ups looking to get an early foothold. Business parks present an appealing alternative for those looking to benefit from many of the perks and amenities available in Central London industry hubs. These benefits include cutting edge technology, flexible lease terms, great fit outs, collaborative atmospheres, and access to a wide range of networking opportunities – all without the exorbitant rental prices seen in The City.

In terms of location, London business parks are generally easier for employees to commute to. They typically provide cheap or free parking, calmer surrounds, and quick access to numerous major transport links. This ease of access makes business parks ideal for businesses that don’t necessarily need to be located in the heart of Central London.

It has been hard to narrow down a list of some of London’s best business parks, however, we have made sure to include the best from a scattering of locations in the Greater London area. By reading on, business owners can easily discover a top-tier business park near their intended area of operations, enabling them to take the plunge and put pen to paper.

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Will the Pandemic Change the Rules of Office Space Size?

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One of the key considerations for office-based businesses is making sure that workspace is efficiently allocated. Over the years, we’ve reached some consensus over what’s the best square metre-to-employee ratio. But with the recent developments brought about by the Covid-19 pandemic, things may be just about to change.

In this post we’ll take a look at the current rules of thumb on office space size and whether this will be affected by the pandemic.

How Much Space Is Enough?

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Virtual Office Space – How to Secure a Premium London Business Address Without Paying a Premium Price

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Choosing a virtual office is an effective way of securing a premium London business address without paying a premium price. Some key benefits of going for this type of service include:

  • Having a virtual presence in a global city
  • Being able to choose among various premium addresses without having to pay for prime real estate
  • Having more time to focus on running your business
  • Saving on the costs of software, office equipment, and staff

Virtual Offices in London: Services Included

Virtual offices provide a registered address that can be used with the Companies House and in company stationery, as well as mail reception and mail forwarding to UK addresses and in some cases abroad too. Mail can be also be scanned, faxed, or collected in person.

Another common service is personalised phone answering, message taking, and call forwarding. Remote access to voice mail may also be available.

If virtual offices are provided by business centre operators, access to hot desks and meeting rooms is usually part of the package. Where the service provider has an international presence, access to business lounges in other cities or countries and invitations to networking events may be included.

Other services include secretarial and admin support (e.g. transcription, translation, booking appointments, event management, making travel arrangements, etc.). These are often available on a pay-per-use basis.

Choosing a Virtual Office Address

When choosing a virtual office address, it’s important to bear in mind that certain industry sectors are clustered in specific parts of the city (e.g. creative and media in Clerkenwell and Shoreditch, finance and banking in the City, small IT operations around Great Titchfield Street, or logistics and distribution in West London).

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London Commercial Property Fact Sheet and Infographic

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The London commercial property market is one of Europe’s largest both in terms of size and worth. Below you will find a wealth of data that provide a snapshot of the market in the UK’s capital city.

Offices

London offices account for 20 per cent of the city’s total commercial inventory, with an estimated value of £173bn. The fastest-growing areas in terms of rental growth include Heathrow (which currently already has more office square footage than Birmingham’s CBD) and Shoreditch, a formerly industrial area which is now a hotspot for media and tech companies.

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Overview of London’s Commercial Property Market – 1st Quarter 2016

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During the past two years, the London commercial property market has performed strongly, ending on a high note in December 2015. However, and as expert analysts predicted, 2016 is set to bring about some qualitative changes into the capital’s commercial property market. Below you will find a detailed overview of how the market has fared during the first quarter of the year.

London Commercial Property Market Q1 2016: An Overview

Moderate rental growth has been the key theme emerging from the commercial real estate activity that has taken pace in London over the past quarter. Rents have remained relatively flat across all sub-markets (but especially so in the office sector) despite the rising interest rates. Investment activity also slowed down during Q1, and on this front average returns on commercial property were in the region of 7.5 per cent, slightly lower than 12 months ago. The slowdown has been evident in capital growth rates too, which averaged 2.9 per cent for central London offices, 4.1 per cent for retail properties, and 1.6 per cent for industrial space.

Another important theme that has emerged during the first quarter of this year relates to the impact that the so-called Brexit could have on a market where a large percentage of transactions are backed up by foreign investors. The vast majority of commercial property experts agree that commercial property prices would drop substantially should the UK leave the European Union. Britain’s exit could also result in a dramatic decline in the amount of foreign capital pouring into the London market. In fact, some market analysts affirm that European investors are already putting large-scale property purchases on hold – and may continue to do so until the vote takes place in June. Nevertheless, and until then, enquiries and demand for London properties should remain relatively strong, especially when compared to regional markets. Continue reading “Overview of London’s Commercial Property Market – 1st Quarter 2016” →

Overview of London’s Commercial Property Market – 2nd Quarter 2015

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During the second quarter of 2015, we have seen a continuation of the market trends that characterised the first quarter of the year. Overall, the London commercial property market has experienced sustained rental growth in most sub-markets, but particularly in the West End. Researchers attribute continued rental growth to the healthy levels of leasing activity and to the rather reduced supply of Grade A space, and they affirm that increasing rental prices will be the predominant theme in the city’s commercial property market for the rest of the year.

This trend is particularly evident in the London office market. According to PropertyWeek.com, supply shortages in the city’s office stock are becoming “serious” and total supply dropped by 4 per cent between January and May 2015.

The London office market Q2 2015

Rising prices are the main theme in areas like Shoreditch, Clerkenwell, and Southbank. This trend is contributing to reduce the office cost disparities that have characterised the city core market for years. It is expected that price gaps across postcodes will be further reduced as these sub-markets become more consolidated. Another sub-market that has greatly benefited from strong demand is Hammersmith. Property Week has reported that this office sub-market is becoming a highly-sought after location that has gone from being a peripheral market to an extension of the West End. Similarly, those areas of the Thames Valley that are closer to the city have witnessed a noticeable surge in demand. This increase in demand is most likely caused by the improved transport links that will become a reality thanks to the Crossrail project. According to Colliers International, by the end of this year the office market in this area is expected to grow by 13 per cent.

Demand for serviced offices in London has experienced further growth during the past quarter. The number of serviced office space in central London has grown by 11 per cent so far, and growth is even more impressive in areas like the Southbank, where growth levels are around 17 per cent. In fact, Property Week reports that this sub-sector has outperformed all other market sectors not only in London, but also nationwide.

As far as new office developments are concerned, the most noteworthy deal closed during the second quarter of the year involves the agreement signed by Brookfield Mutiplex. This US-based firm has agreed to develop a £1 billion office complex in what will be London’s biggest skyscraper. The building will be located at 100 Bishopsgate, and once completed it will add 900,000 square feet to the city’s office stock. Other important projects in the city’s development pipeline include 5 Broadgate (700,000 square feet), 1 Bank Street (nearly 670,000 square feet), and 1 Angel Court (300,000 square feet). Continue reading “Overview of London’s Commercial Property Market – 2nd Quarter 2015” →

Serviced Office Space to Become More Popular in 2015

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As one of the world’s leading commercial and economic powerhouses, the city of London attracts thousands of entrepreneurs and investors every year. According to a recent report, in the Tech City alone more than 15,000 new businesses were established during 2013, and this has prompted a surge in the demand for adequate office premises in this London neighbourhood. There are many other areas of London that are also experiencing a growing shortage of office floor space, mainly those in the northern city fringe area and in central London, where new developments are severely limited.

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Key Office Space Trends and Statistics for London 2015

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The London commercial property market is expected to show positive results in 2015. During the last year, office property market sector has shown of a number of trends including accelerated rental growth, declining vacancy rates, and stable investment yields are some of the key trends that have characterized the office market across most London areas over 2014.

The key trends expected across the London office space rental market include increased demand, vacancy rates as low as 4.5%, an increase in rental costs across London up by 4.3% overall and the commercial property market as a whole expected to experience double digit growth.


London office rental market 2015 - Key trends infographic