The outlook for business property across the UK has seen some mixed predictions during the previous twelve months. However, London commercial property is still bucking the trends, attracting major national and international firms despite a widely reported shortage of available space. According to industry research, occupancy rates in the EC1 postcode rose by 57% during 2011 when compared to the previous year. It also showed that the first quarter of 2012 saw the highest take up take since the beginning of the recession in 2008. Some 210,000 square feet were occupied, whilst other areas of London experienced less positive figures.
Nonetheless, office space in London is still outperforming the rest of the UK, with competition for space expected to increase as many firm’s leases expire over the next few years. The uptake in EC1 has been spearheaded by creative, media, technology and fashion companies with some major firms choosing to relocate there from other prestigious areas of the capital. More competitive rents are certainly helping to drive the trend as firms cut costs to remain competitive. The changing image of the neighbourhoods towards a glossier, more confident place for flagship brands is a strong magnet. To date, the neighbourhood has seen some major UK and international internet firms; publishing companies; and major fashion labels all scramble for space there.
“Soho is still in very high demand, and we have properties for immediate occupation. They range from smaller offices suitable for sole traders, SMEs and start-ups right in the heart of the district, right up to larger multi-floor open plan premises. There’s also been strong interest in Clerkenwell but we still have a wide range of properties there to suit many different types of businesses. We can accommodate businesses in prestigious period buildings, with many stunning original features. We also have space in smart modern blocks, and again there is a range of premises suitable for many different sized firms. We always match the client’s needs precisely to suitable properties before offering them a viewing, streamlining the process to make it quick and efficient to find the ideal new base,” said Leigh Peters, Marketing Manager from Pearl and Coutts commercial property letting agents.
The company let competitively priced quality office space in London in a variety of locations, as well as sourcing new retail, warehouse, and industrial space plus parking. Their multilingual team can also help with London parking for businesses and work with companies of all sizes. To talk about your requirements, call the team on 020 7843 3753; the current selection can also be viewed online at http://www.pearl-
