Home » Business

Finding Commercial Property in London

Jul 11, 2008
Businesses of all sizes are drawn to London. The capital is the global centre for many diverse industries and is full of attractive commercial property.

With a population of more than eight million and an eclectic mix of people and city offices, London has something to offer every firm. Moving offices or buying commercial property in London is sadly not as easy as one might hope, but with some expert knowledge and office relocation help, firms quickly enjoy its numerous opportunities.

Commercial property markets have struggled following recent international credit shortages. However, falling values have attracted numerous overseas buyers and some commercial property still retains a premium. The recent sale of Mayfair offices by Hermes Real Estate at a four per cent yield is a useful example.

Businesses looking to resize and move to new offices have to consider the cost of moving and the benefits of hiring office specialists to help. By employing an agent, a company can also continue driving its business forward, while an office relocation project manager takes care of the details.

Commercial property agents are best placed to understand these market developments. This 'inside view' could be of even greater help to companies moving to London for the first time. Experts say that commercial property agents can offer those looking for office space a number of key advantages.

When representing a tenant, they can be trusted to find a property at the right price - not necessarily one that the landlord is looking to achieve. Equally, the opportunity to harness the insider knowledge of commercial letting agents - who may know about good locations due to come onto the market, can give firms a head-start. Rather than simply scanning available office space and wasting time continually checking what is available, interested tenants can be alerted by those in the know.

The same grounding is also useful when it comes to the crunch. Commercial estate agents are aware of the market moves and will have their finger on the pulse when it comes to knowing what might be around the corner - will the location, for example, be set for major new transport links, like Stratford following the construction work done for the Olympic Games; or is the nearby Tube station set to close for the first six months of the commercial lease? With an understanding of the local area and the market conditions in what are changing times for the property market, an agent can help a tenant find the right space at the right price and make the new site or office relocation that much smoother.

Companies moving to London need first to decide where in the capital they want to be. London has excellent public transport connections, although even small companies looking for budget relocations should consider their choice of location carefully.

By using a commercial property expert, they can find a number of offices and benefit from specialist local knowledge.

New London mayor, Boris Johnson, has new plans to create more open spaces and waterways which investors hope will further add to the city's qualities. The Times reported his planning advisor, Sir Simon Milton, saying Boris's big theme is "quality of life".

So whether it is in or out of work, companies planning office relocations can expect their staff to enjoy the best London has to offer.
About the Author
Shivani Gurtu-Louth - Operations Manager of Devono Property Limited. Devono are the only commercial property agents in London to exclusively represent tenants looking for office space and commercial property in London to rent. Our aim is to secure the best commercial property at the best price. For interviews, quotes, images or comments contact: Shivani Gurtu-Louth Devono Operations Manager Tel(DDI): +44 (0)20 7096 9911 E-mail: sg@devono.com
Please Rate:
(Average: Not rated)
Views: 150
Print Email Report Share
Article Categories