A Tough Market: Pearl And Coutts Help With Office Space In London

A Tough Market: Pearl And Coutts Help With Office Space In London End Quote

(1888PressRelease) February 05, 2011 - The New Year brought strong indications the London commercial property market is in robust health, according to the latest figures released by the Investment Property Databank (IPD) UK Monthly Index. Recovery within the commercial sector has progressed steadily but a clear divide is emerging between the capital and the rest of the country. With office space in London far outperforming other areas, leading London commercial property letting agent Pearl and Coutts gave their reaction and advice for businesses looking for London premises.

UK commercial property values increased last year, and the accompanying returns for investors were the most robust seen for four years. In general the sector has seen a recovery process spanning around a year and a half, during which London has arguably forged ahead of the rest of the UK. Phil Tily, managing director of IPD said London is driving the recovery, citing office space in London in especially high demand. Pearl and Coutts gave their reaction:

"There's certainly a lot of interest in acquisitions in London right now including a considerable number of overseas investors looking to buy. For businesses looking to occupy premises this is actually a very strong argument to take out a rental lease rather than attempt to buy. For one thing, the financing required for a purchase will be beyond the means of many small to medium sized firms. Whatever the company size though, on a day to day level, renting allows for a manageable cash flow and an easier way to set up in business here. London acquisitions are undoubtedly one of the world's most competitive markets right now so it makes sense to rent for both simplicity and financial scale."

Pearl and Coutts also gave their perspective on London's shortage of commercial premises:

"One of the stories that dominated the commercial and even the residential property market in the last year was a shortage of quality accommodation available for rent. There haven't been as many new builds released on onto the market as in previous times and some will tell you it's a huge problem. Working with the Structadene group means we keep a wide selection of property available, for many different uses, year in year out. We also take care of our client's ancillary needs like London parking, storage space, industrial units plus secondary premises elsewhere in the country and any residential property they may also need. Our advice for businesses looking to occupy in London would be to really look long and hard at the amount of work and finance involved in trying to make a purchase in the current climate. Companies are going to be able to save an awful lot of staff hours by addressing all their needs with us. Particularly if they're an overseas firm, we'd suggest speaking to us first. Our staff are very familiar with the particular needs of international companies trying to establish business premises in London , including offering our service in different languages."

Any business interested in office space in London, storage, industrial units, and/ or parking can view pearl and Coutts current selection online at http://www.pearl-coutts.co.uk/. Their staff will be only too pleased to make the process of letting as easy as possible; call them today on 020 7843 3753.

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