It is becoming an increasingly difficult task to find office space in London that is just right for you and your business. Since the capital has long been one of the financial hubs of Europe and indeed the world, the fight for premium office space has always been fierce but that battle has now gone into overdrive.
During the second quarter of 2013, the total take-up of office space in central London increased by an amazing 32% over the previous quarter’s figures. This is the highest take-up level for three years. Some experts believe that this surge in interest is due to many firms snapping up space ahead of an expected shortage. So, if you are currently on the lookout for office space in London, are there still quality properties left to rent? Fortunately, the answer is yes and if you follow a few simple guidelines, the best offices should not be too difficult to find.
Size and Space
It may seem obvious but this is a very important consideration when looking at potential premises, particularly if you are a start-up company. Any possible future growth needs to be factored in to the equation to save the upheaval of moving to larger premises after just a short period of time. Of course, deciding on the size is a delicate balancing act because you do not want to overestimate your future space requirements either.
Location
Perhaps the single most important determining factor in choosing the right office space for your business is location. In addition to the presence of convenient transport links to enable your staff and clients to reach you with the minimum of fuss, the surrounding area can go a long way to deciding your company image. First impressions count so a pleasant, clean location for your premises is a huge bonus. With the current rush to snap up office space in the city, it may be necessary to compromise a little on location but some districts of London which have not previously been associated with centres for business, such as Notting Hill, are becoming increasing popular.
Rent or Buy?
The age-old question when it comes to commercial property is whether to rent or buy. Renting is normally the most popular option as it allows you to be more flexible in the future if you decide you need to move to new premises. It also means that if the worst happens and your business fails, you are not left with a property to sell.
If you are a little unsure about the best locations for office space in London, always seek out the advice of those in the know. Agents who are actually based in the area can be invaluable when it comes to finding just the right office for your company.
