Why now is the best time to Rent Office Space in London

Occupying office space in London is an ambition of many businesses of all sizes. However, because London is such a key location for businesses nationally and internationally, buying or even just renting office space has always come at a premium that can often be way beyond the means of new and smaller businesses.

The price tag for commercial property London is, in part, determined by the facilities and amenities the city has to offer businesses. London has direct connections to the international business arena in the form of 5 major airports and the Channel Tunnel . In addition, it has links with almost every location in the UK, through a series of motorway and major road and rail networks. Because of its attraction for national and international companies, the capital is also a major draw for new and blossoming talent in all the sectors the capital plays home to. Fresh talent means fresh ideas and London-based companies are often able to innovate and tread new ground faster than businesses in other parts of the country. Innovation is of particular interest to new clients and many come to the capital, looking to work with the best of the best.

As a result, office space in London has always achieved a status to match its cost; a business address in the capital offers the assurance of quality and respectability to potential clients. However, since the grip of the current recession tightened its fingers, investors have been looking at a situation where they can purchase or rent office space in London at prices that have not been seen for a long time and yet still offer the same kudos and advantages that office space in London has always been able to boast.

In the impending face of the economic downturn, many banks and financial institutions downsized their operation and vacated premises throughout the capital. Where banks set a trend, businesses are sure to follow and soon many businesses addresses in London were standing empty. A further complication for landlords was the continuation of new building projects across London, resulting in a situation where supply far outstripped demand. In turn, landlords were forced to drop their rents and freeholders looking to sell were forced to cut their property prices.

Buying into the commercial property that London has to offer now, will ensure that investors are able to balance cost against return; as property prices increase, so too will the rents that investors are able to charge for their office spaces. Investors could be looking at a long-term investment that will offer significant profitability in the not-too-distant future.

Shivani Gurtu-Louth - Operations Manager of Devono Property Limited. Devono are the only commercial property estate agents in London to exclusively represent tenants looking for commercial property and office space in London. We can also help you find serviced offices in London. 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