Serviced Office Space to Become More Popular in 2015

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

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

London Office Space 2015: Expected Growth Areas

Expected London Office Market Growth Areas in 2015

Last year was undoubtedly a positive year for landlords and tenants in the London commercial property market. Towards the end of the year, real estate experts released their forecasts for 2015. The predictions are full of positive and encouraging figures and point at a healthy market where growth is set to dominate. Take a look at some of the most important trends regarding the key growth areas for the commercial property market in London during 2015.

2015 Outlook: What landlords and investors need to know

According to market analysts at Schroders, during 2015 a number of factors will result in a very attractive property market for landlords and investors interested in London properties. A recovering economy, decreasing unemployment rates, and a limited development pipeline are set to drive demand for existing floor space and to push commercial property values even further. For investors, this means that property yields can reach double digit levels, although all the predictions point at the commercial rental market as the best performing over the next 12 months. According to data from the Investment Property Forum Consensus Forecast, total returns could be as high as 15 per cent during 2015. Rising interest rates are not expected to become a possibility until 2016.

London office space market growth areas in 2015 infographic

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Tech & Creative Industries Change Shoreditch’s Commercial Property Market

Situated in the East End of London, Shoreditch is synonymous with the capital’s high tech sector. This change has had a significant impact on the types, quality, quantity and price of available offices and coworking spaces in Shoreditch.

The district is located within the London Borough of Hackney, just north of the City of London. Once an industrial and working class area, Shoreditch has gentrified significantly with the influx of creative and technology industries and their employees. Today, the district is home to many art galleries, bars and restaurants.

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Who’s Taking London Office Space in 2015?

Principal occupier industries for office space for 2015

Being one of the world’s economic powerhouses, the British capital attracts a wide range of talented individuals, wealthy investors, and real estate agents from all over the world. The city’s thriving economy and great expansion rates have had an indirect effect on the commercial property market, which has just experienced one of its most promising years since the onset of the recession. According to real estate experts, what in 2014 were promising trends will become strong and continued levels of growth during 2015. In fact, the commercial property market in London is set to experience the highest levels of rental growth since 2007.

In particular, the real estate office market is expected to be one of the best performing sectors this year. This is mainly due to the fact that an important number of jobs are being created in certain industry sectors that are traditionally office-based. This report provides an overview of the principal occupier industries for office space in London.

Sectors to watch out for in 2015

The financial and banking industries have been slowly recovering from the effects of the recession, but according to market analysts, other industry sectors are set to surpass the office take-up rates of these traditionally important industries. The creative sector is among the key industries that have profiled themselves as some of the main occupiers in London. For the past five years, this sector has been booming across London, and especially in areas like the northern city fringe (Shoreditch, Old Street, Clerkenwell, etc.). Continue reading “Who’s Taking London Office Space in 2015?”

Top London Tech Conferences for 2015

As the UK’s technology hub, London is the home of leading businesses and innovators in the sector. It is no wonder that the capital hosts some of the top technology conferences in the world. The following are just some of the best technology conferences that will be held in London during 2015.

Big Data Week
Celebrating its fourth year in 2015, Big Data Week is the world’s largest global big data festival. Big Data Week runs from 20 to 26 April in more than 40 cities around the world, including London. Events focus on the social, political and technological impacts of data. It connects cities with events, networking opportunities, demonstrations, discussions and debates, meet-ups and more. The annual festival brings together technology experts from various industries, including media and entertainment, health and science, finance, retail, public and government, and other sectors.

London Technology Week
London Technology Week features major international conferences, investor meetings, pitching competitions, workshops, hackathons, and much more. The week-long festival is London’s premier technology gathering. In 2014, 203 events brought together more than 40,000 people from over 40 countries. Events cover a range of themes, including gaming, IT, wearable technology, music, education, big data, science, finance and other topics. Organised by UBM, London Technology Week 2015 will run from 15 to 21 June and focuses on six themes: talent and education, innovation and growth, investment and funding, coming to London and going global, diversity, and social impact.

Interop London
The flagship event of London Technology Week, Interop London connects the IT community and helps drive innovation. The conference provides a forum to share global trends and vendor solutions in a range of areas, including IT infrastructure, cloud computing, security, mobility, software and business intelligence. Interop London’s programme includes a variety of demonstrations, case studies, world-class education sessions including workshops and training sessions, and vendor clinics. The conference also hosts hundreds of vendors. It will run from 16 to 18 June at the ExCeL London. Continue reading “Top London Tech Conferences for 2015”

Focus on Business in Camden

When it comes to London boroughs that are known for their artistic value, Camden reigns supreme. Around 10,000 members of the Camden population are employed within the Creative and Cultural Industries (CCIs), which is one of the dominant industries in the borough. While it’s well known for its CCIs, Camden continues the tradition of small and large markets. Over 25,000 businesses and 240,000 jobs exist within Camden, which means it’s the second best borough in London in terms of existing businesses and employment prospects.

Industries that Dominate Camden’s Business Activities

While Camden is well known for its CCI activities, the most dominant businesses are service firms. This includes solicitors and other legal practices, accountants, and bookkeepers. Service firms account for around 37% of Camden’s employment and it’s thought that this is due to its close proximity to the city centre and excellent transport links. The majority of these businesses are concentrated in the south of the borough, which is part of London’s central business activity zone.

CCIs account for around 37,000 jobs in Camden, which includes advertising, marketing, and publishing. While these industries have seen a decline throughout the UK and London during the recession, it’s expected that they’ll experience growth in Camden in the near future.

Camden’s Biggest Employers

University College London (UCL) is the largest employer in Camden, and is one of the largest employers in Central London. With over 10,000 staff and a litany of students, it make a significant contribution to the local economy, features one of the UK’s best medical schools, and is known for its academic excellence worldwide. Continue reading “Focus on Business in Camden”

London’s Commercial Property Market 2014: The Year in Review

As 2014 draws to an end, we can safely say that the London commercial property market has laid out the foundations for continued growth. Take a look at the latest developments that have taken place in the commercial property market across the UK’s capital city. But first, let’s get started with a synopsis of the year so far.

London’s commercial property market: the year in review

Overall, this year has been marked by steady growth and increasing optimism among both investors and occupiers. According to research carried out by M&G Real Estate, this upward trend can be attributed to two main factors. Firstly, the labour market has become stronger over the past 12 months. In November 2014, the unemployment rate reached a five-year low of 7.1 per cent. This fact has had a positive effect on the property market, especially in the retail sub-sector.

Secondly, there is the widespread belief that economic risks have decreased substantially in many Eurozone countries. As a result, commercial property rents have stabilised, and in some areas of London commercial rental values have even begun to grow. From an occupier perspective, changes in risk perception have also meant that firms in the financial, banking, insurance, and ICT sectors are now ready to extend their leases or to move on to larger premises.

Towards the end of 2013, market analysts predicted that rental growth values across all commercial sub-sectors would average 2.1 per cent. The predicted growth rates have been largely surpassed in the office property market, especially in areas like Midtown, where office rents have increased by nearly 6 per cent. In addition, the London office market has also seen the revival of the so-called fringe locations, where the demand for refurbished office floorspace has been steadily increasing. Continue reading “London’s Commercial Property Market 2014: The Year in Review”

Focus on Business in Shoreditch

Focus on Business in Shoreditch, London, UKLocated in London’s East End, Shoreditch is found within the borders of the London Borough of Hackney. Sitting in the heard of Central London’s modern core, the area is synonymous with the capital’s thriving technology industry. Many of the UK’s more innovative start-up technology companies are based in Shoreditch, alongside the world’s leading technology and financial companies. The area is a major player in the UK’s £72 billion technology sector.

Shoreditch’s Evolution

The early history of Shoredtich was centred on theatre. The area was home to England’s first playhouses. The Theatre was built in 1576 and was the stage for some of William Shakespeare’s plays. Another early theatre, Curtain Theatre, also hosted Shakespeare’s work steps from The Theatre. In 1599, Shakespeare’s Company relocated The Theatre to Southwark and built The Globe. Silk weavers and traders moved into the area during the 17th century and established the area as a textile centre. By the 19th century, Shoredtich also had a thriving furniture industry.

During the late 19th century, industrial Shoreditch experienced a decline in its traditional textile and furniture industries. Once part of Middlesex, Shoreditch became part of the newly established County of London in 1889. In 1899, the Metropolitan Borough of Shoreditch was created and included the districts of Shoreditch, Hoxton and Haggerston. Bombings during the Second World War destroyed much of the area’s housing stock, further contributing to Shoreditch’s economic decline. Much of the area was the focus of heavy redevelopment following the war. In 1965, Shoreditch was absorbed by the London Borough of Hackney.

Since the mid-1990s, Shoreditch has been an increasingly popular and fashionable area of London along with nearby Hoxton. Old Street and Curtain Road are known for their pubs and clubs, as well as a number of theatre and music venues that rival the West End. Shoreditch also has a large number of bars, restaurants and art galleries. Once a working class district, the area has been the subject of gentrification over the past twenty years. This has seen a steady increase in land and property values. Many former industrial buildings have been converted into flats and commercial spaces, particularly offices. The new Hackney Community College campus in Shoreditch is also aiding in the area’s transformation. Continue reading “Focus on Business in Shoreditch”

Last Minute Office Christmas Party Ideas in London

Last Minute Office Christmas Party Ideas in LondonWith barely a month left until Christmas day many of us are busy making last-minute preparations at home and in the office. Have you already found the ideal venue for your office Christmas party? If you haven’t, there’s still some time left to find and book a suitable venue. Take a look at our list of last-minute office Christmas party ideas and venues in London that are still taking bookings.

Christmas at the museum

If you want to celebrate your corporate Christmas party somewhere different this year, why not consider booking one of the impressive venues for hire at the Natural History Museum? The museum has a very convenient location in the heart of London and is just as stunning on the inside as it is on the outside. There are three spaces suitable for office Christmas parties at the museum. The first is Hintze Hall, a splendid space featuring impressive architecture that can accommodate up to 700 guests for dinners and 1,200 people for receptions. Equally stunning is the Earth Hall, a unique tribute to our planet and our universe and a definitely a different Christmas party venue. Maximum capacity is 200 guests for dinners and 500 for receptions. If you require a smaller venue and are only planning a canape and drinks reception, check out the Darwin Centre, a contemporary space which includes use of an outdoor courtyard.

For details about these venues you can call the museum on 020 7942 5434 or get in touch via Twitter on @NHMevents.

An all-in-one Christmas venue

Do you want to treat your staff to an activity-based office Christmas party? Then take a look at the All Star Lanes, which have four centrally located branches so that you can choose the one that is more convenient for you. In addition to a private bowling room, a booking with All Star Lanes gives you access to your very own staffed cocktail bar, a karaoke room, and even a Wii console. Canapes and snacks can also be arranged, so you really get everything you need for a fun and entertaining Christmas party by booking with All Star Lanes. These venues can accommodate parties of up to 80 people (130 at the Brick Lane penthouse). Continue reading “Last Minute Office Christmas Party Ideas in London”