Getting a Great Deal on London Commercial Property

Ever since the 17th and 18th centuries, Mayfair has always been a fashionable and sought after district. The advantages to a business of acquiring an office space in Mayfair are discussed.

The current economic downturn has bitten deep into almost every aspect of the business world, not least the commercial property market. The bleak future that has been predicted for landlords and leaseholders has opened up a wealth of opportunity for prospective tenants looking for great deals on serviced office space in London. It is these opportunities that could, ultimately, help to begin the slow climb from recession to recovery.

The trend was set by banks and financial institutions. In the wake of excess loans many decided to downsize and streamline their business operations, generally resulting in mass-redundancies. In order to maintain their day-to-day running, many vacated their premises or opted for short lets. Of course, whatever the banks do will affect businesses very quickly and a ripple effect saw them following suit; vacating their premises or opting for short lets. This resulted in a surplus of serviced office space in the capital, with no immediate prospects of tenants taking them up.

To prevent their offices gathering dust and forcing them into negative equity, many landlords and freeholders reduced their rentals and even introduced rent-free holidays to encourage custom. Unfortunately for them, the continual development of further serviced office space throughout the capital has forced them to drop their prices even further; as much as 26.6%, according to the Investment Property Forum’s European Consensus Forecast.

For a business, having premises in London ticks many boxes. It is served by five major airports, offers other transport links in the form of the Eurotunnel and the many ferry services that link us directly to Europe; business trips to most European countries can be completed in a day.

London is also well served by motorway links around the UK, providing tremendous convenience when it comes to transport of goods and unparalleled accessibility to UK-based business conferences. There can be little doubt that the capital offers everything a business requires, regardless of the company’s size. However, finding a property to suit could prove difficult if you are unaware of the city’s geography and what each area may have to offer your company. To find the best serviced office space, companies are well advised to hire the services of commercial property estate agents in London.

Commercial property estate agents in London will have a good working knowledge of the potential of particular areas if the city, as well as being able to negotiate favourable terms on your behalf. In addition, most good commercial property estate agents in London rely on an ever-changing database that brings them news of developing hotspots that could put your company in a very advantageous position.

As prices level out and, in many cases, continue to fall, using the services of commercial estate agents in London can only help you to beat the fierce competition and achieve the property that is the best for your business.