London Commercial Property: Does It Matter Where Your Offices Are Located

When it comes to offices in London, does it matter where your offices are located? Pearl & Coutts certainly believe that it does, and that location is just as important for offices as it is for residential property. End Quote

(1888PressRelease) July 30, 2013 - With commercial property at a premium in London and a perceived shortage of office space, it is tempting to consider basing your company outside London. Even in London's "Silicon Roundabout", traditionally one of the better-value areas of London for offices, apparent shortages are reportedly preventing even well-funded startups from finding the right London office space for their growth. Location, it seems, is a worthwhile factor for office space as well as residential property.

The value of location in the residential property market has been long-established in business property. Other than the added value of having a London address, recognition of the value of being in the "right" location has taken a little longer to establish. There is perhaps a perception that offices can be located anywhere within reason, that location does not play as big a role in the success of a business as it might in the value of a residential property.

Property experts Pearl & Coutts would beg to differ. Over the last 40 plus years they've been in business they've followed the fortunes of a vast array of businesses in different sectors. According to their team, if your core activities are based in and around the capital then having your offices within the M25 makes sense. Servicing clients who are geographically close to you saves on travel time and can bring gains in efficiency. You can also benefit by cementing relationships with clients and customers that more remote service providers would struggle to establish. Being able to network in and among your local customer base to gain new clients is an advantage over the competition based outside the city or overseas.

The statistics echo Pearl & Coutts' viewpoint. The Office of National Statistics figures show that London's economy grew by over 12% between 2007 and 2011, nearly double the rate for the next fastest growing region (the South West) and nearly 3 times the national average.

Even among London addresses, it seems there is a form of "location prestige" attached to having a London address - and the right London address. A recent article suggested Mayfair as an ideal location for a startup eschewing the more popular "Tech City" Silicon Roundabout area around Old Street. This may seem peculiar as Mayfair is one of the most expensive areas of London, but the subject of the article is a business which helps connect investors with the firms in which they may want to invest. Crucially a large concentration of these investors are based in Mayfair, therefore it makes sense for this online networking company to base themselves there too.

"Choosing the right location for your business isn't just about considering locations that are fashionable. You need to be thinking about the locations that can bring benefits to your business, locations that will add value. Who is there already that you can connect with? What unique facilities exist there that will enable you to thrive? Are a large number of your present or potential customers or clients local to that area?"

To speak to our commercial property consultants and find the best possible London Office Space for your business call us today on 020 7843 3788.

http://www.pearl-coutts.co.uk

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