Office space in Central London continues to outperform the wider UK commercial property trend, according to CBRE’s latest monthly index. Total returns increased from 0.5 to 0.6 per cent in March, bucking the overall commercial trend with entire returns and capital growth standing at 0.1 per cent and -0.4 per cent respectively.
What does this mean? It means London is still very much a lucrative place to work, with the commercial property London market buoyant with established businesses, SMEs and start-ups alike seeking prime locations to give their business a major head start.
Here are a few of the key factors in Central London’s continued strength, helping to prop up the country’s overall trends and decreased property values.
Superior transport network
As one of the world’s most famous business districts, the capital’s transport network is subsequently unrivalled anywhere else in the country. With the London Underground and Overground providing fantastic rail access and London buses connecting people across the city’s highways there is regular access across the city and beyond. Underground and Overground stations also provide rapid access to London’s major airports, Heathrow, Gatwick, Stansted and London City.
Major industry names
SMEs and start-ups that are fortunate enough to let business space in Central London are guaranteed to be located nearby some of the country’s most successful industry names and business players. The area around Canary Wharf – part of the financial district – is heaving with companies within the financial sector, while Clerkenwell in Islington is home to traditional publishing companies.
Unrivalled leisure facilities
The corporate popularity of Central London as a whole means the business district is very well-off in terms of its leisure facilities. The entertainment ranges from bars and restaurants to exclusive nightclubs and other specialist locations. Employees rarely get bored in the capital and with the ability to relax before and after work their general wellbeing and productivity is greatly enhanced as a result.
Entrepreneurs and business start-ups should consider Workspace commercial property that contains an unrivalled property portfolio of feature-rich properties across London.
Philip Hodgkinson, Communities Manager at Workspace Group – marketing professional with a specialist interest in online marketing, social media and the entrepreneurial community
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