Studio Flats London

Opening an office in London can be a hugely beneficial step for a company to take. However, before you can begin reaping the benefits that the capital has to offer, you need to find new premises. In order to ascertain whether a commercial property in London is suitable or not, you will need to ask yourself a few pertinent questions.
The first consideration should focus around the sort of property you require and its location. Would it best to have the premises nearer to the business’s employees, its suppliers or its customers? Alternatively, it may be more important to have the business located close to a transport network, such as rail or road systems. And, importantly, the premises have to be within your budget.
Should you manage to find a commercial property in London that is suitable, it may be prudent to approach your bank manager or at least speak to the firm’s accountant to ascertain the impact that the new premises will have on the company’s budget. Next you will need to negotiate with the landlord to get rental terms that are favourable to you – often a difficult and frustrating process.
On the other hand, you may feel it better to place the whole procedure in the hands of a property expert. A commercial estate agent will have a great deal of experience in sourcing available commercial property in London. Whilst you will have to pay for their services, it is worth bearing in mind that mistakes with property can be extremely costly and have even in some cases resulted in bankruptcy.
A commercial property agent will have resources available that you will not, such as a database of existing and up-and-coming commercial properties in London. They can also help you organise the move within the parameters of your budget, taking into account things that you may have overlooked. Factors such as producing effective relocation plans, choosing suppliers during and after the move and a constant budget report can all be implemented by the appointed relocations manager and contribute towards a smooth and efficient process. A commercial agent can also take care of things like surveyors and solicitors and also ensure that the contract you sign provides you with favourable terms, taking into account factors such as the rent and possible increases, the length of the lease and how easy it is to give it up, to whom the responsibility of insurance falls, who is liable for repairs, service charges, financial guarantees and lease protection. These are all commitments that you can expect to find in an agreement, but a commercial property agent will be able to negotiate terms on your behalf that you may not be able to.
Renting a commercial property in London generally heralds a new beginning for most businesses; to ensure that your rental goes as smoothly as possible and does not affect the operation of the company, it would be prudent to research just what a commercial property estate agent in London can offer you.

In business terms, London offers businesses facilities, services and opportunities far beyond the reach of any other location in the UK. It is facilitated by five major airports, each one leading directly to other major European sources of trade and industry, in addition to its international links further afield. Indeed, Europe is now closer than ever before; with the Eurotunnel, flights and ferry services to a variety of European locations, a business trip across the channel can be undertaken in a single day.
London itself is also serviced by all the major road and rail networks, making the transport of goods incredibly convenient and, in addition, allows delegates to travel to and from business conferences with great ease. Because London has built up and evolved around business, it also offers a broad range of amenities and facilities for the prudent-minded business-owner to take advantage of.
Most people assume that a London address comes complete with a London price tag. Whilst this may have been true in the past, the current economic climate has seen landlords dropping their rents to an all-time low and offering financial incentives to pull potential tenants through the doors. This is the result of the banking industry having downsized their workforces in the face of the credit crunch. Rather than operate a half-sized staff in full-sized offices, many of them have vacated their premises, leaving a surplus of commercial property in London. In turn, this has seen the rise of the tenant’s market, as landlords would rather be receiving some rent, rather than no rent at all.
For those considering relocating to a more prestigious address or taking up commercial property in London for the first time, there has been no better opportunity. In order to ensure that you get the commercial property London has to offer your business – and at the best price – you would be best advised to hire the services of good commercial property agents.
The best commercial property agents in London are likely to be independent, meaning that they will have no loyalty to a landlord or firm; their loyalty is to you, the client. With this established, they can use their powers of negotiation to secure you the best deal. However, negotiating skills are not the sole qualities that make an agent worth their salt. Good commercial property agents will have an insider’s knowledge of the emerging hotspots in London and those that are likely to flourish in the future. For example, the 2012 Olympics will have far-reaching effects in certain areas of London; a good agent would be able to help you draw up a long-term plan that allows you to tap in to any advantages offered by this.
Commercial property agents can also help with more practical aspects, such as deciding where your business should be located, in relation to local amenities. Using this advice, you can be sure that the flow of your business is not interrupted during the process and you may even pick up a new client along the way. They may also have an idea of any proposed changes to the locale, such as future road works or complex developments. All these can have some bearing on where you choose to establish your company.
Using a commercial property agent is a prudent way to stay ahead of the competition and find a business property that serves your company to the best of its abilities.

Despite the economic downturn, the Confederation of British Industry has reported that some businesses are flourishing against the odds and, as corporations reduce the graduate intake for 2009, many entrepreneurs are deciding to set up their own businesses as opposed to searching for jobs that simply aren’t there. Conversely, those businesses not doing so well are streamlining their workforces in order to cope with the effects of the recession. These are all good reasons for a business to consider relocating or finding new business premises.
Anyone looking to expand, downsize or establish their company should first consider the benefits of using commercial acquisition estate agents. There is plenty of commercial property in London – even more so as a result of major corporations downsizing – but the commercial property London has to offer is wide and varied. Using commercial estate agents can help you find the right premises for your business and, even more importantly, at the right cost.
Relocation or expansion can interrupt the flow of business quite dramatically. Even assigning someone to the job of finding new premises is a loss of manpower that many businesses simply cannot afford at this time. Using commercial acquisition estate agents enables a company to continue its day-to-day business whilst someone with commercial property industry-knowledge and expertise can compile and research lists of potential premises and once found, they will then act on your behalf to structure the lease with the most favourable terms possible. Good commercial acquisition agents take the time to understand the company’s structure and needs and will make lists taking these factors into consideration. The lists can then be considered at the most appropriate time.
Commercial estate agents are also well versed in working within the confines of a budget. Whilst looking for commercial property in London, they should also take into account the physical requirements of the office. Unless the office is serviced, they can assist with researching suppliers and ancillary services that will make the process run as smoothly as possible. The information they compile on services such as IT support, security access systems, power supplies and waste disposal, to name but a few will also enable the business owner to build up a clearer picture of the advantages and disadvantages of particular premises with respect to their locations.
Once the office space in London has been decided upon, commercial acquisition agents are extremely knowledgeable about co-ordinating a relocation within a specified timeframe; a job that would be almost impossible for someone within the company to orchestrate. Using a timescale, commercial acquisition agents can factor in certain events at certain times, ensuring that nothing is overlooked as the process gains momentum. The agent can also handle the use of solicitors, surveyors and critically will be responsible for the negotiating process, while senior management need only be party to the absolutely vital details involved, rather than poring over the minutiae of a lease.
Relocating during this economic downturn may be an absolute necessity, either for positive or negative business reasons. Using commercial acquisition estate agents not only allows you to secure the best commercial property London has to offer for your company, it also allows the company to continue its daily business with minimal inconvenience, whilst ensuring that valuable time and money are spent in the most constructive ways possible.

Despite the recent economic downturn and the emergence of alternative market centres across the world, London is still one of the most important business centres on the global stage. Basing a business in London commands a certain amount of kudos and respect and consequently commercial property in London is often at a premium.
However this does not mean that a London address is out of the realms of possibility for any business, and using the services of commercial estate agents who are experts in their field is the best way to source commercial property in London. A good commercial property estate agent will have access to a wealth of knowledge and opportunities that should suit almost any business looking to move into their first commercial property. London is a dynamic and constantly evolving marketplace and its commercial property market is transient, particularly at the moment. This is good news for companies looking to move within the M25 boundary, as it has created a buyer’s market full of bargains and sellers more willing to negotiate terms.
Central London is extremely well served when it comes to transportation. Five airports serve the entire region, including London City Airport, located in the heart of East London’s Docklands area, which has been influential in opening up this relatively poor district to the business community. An extensive road and rail network criss-cross the Greater London area and the legendary Underground system means that getting around the capital is easy, cheap and quick. Commercial estate agents know the importance of a good transport infrastructure to the promotion of business, and will be able to recommend locations that will offer your business the greatest benefits. If your business requires large amounts of storage and has strong international ties, for example, then a commercial estate agent may recommend a location close to an airport or international rail terminal that will fulfil your business needs accordingly.
Commercial units and offices in the centre of London can in cases still command relatively high prices, but looking at locations that are slightly outside the City and West End may turn up more affordable commercial property options. London is far more than just the EC and W1 postcodes and many businesses are looking to the East End and south of the Thames as viable locations. These areas are just as well serviced with transport links as the pricey West End, but offer more choice for companies looking for cheaper commercial property options. Commercial estate agents specialising in these locations will know of hidden gems that could be exactly what your business needs to make that step into the thriving metropolis without going over budget.
In theory, finding commercial property in London should be no different to finding the same type of accommodation anywhere else. However, despite the economic downturn, competition is still relatively fierce and will become ever more so as the focus on London increases as we move towards the 2012 Olympics. By utilising the services of an experienced commercial estate agent, businesses can ensure that finding the ideal location is a smooth process and that they get the most suitable premises available at an affordable price. Despite the undoubted economic downturn worldwide, many businesses are still booming in London, and there are plenty of opportunities for businesses to join in by relocating to one of the most exciting cities in the world.

According to Reuters, the amount of office space in London lying empty has risen by ten percent since the beginning of 2009, meaning that the number of London offices that are immediately available to rent has risen to in excess of 10 million square feet. There are many advantages for a business looking to lease office space in London and there has never been a better time to find a real bargain.
The reason for this surplus of available London office space can be traced back to the beginnings of the current economic downturn. As banks and other major financial institutions saw the potential results of surfeit lending, they began to downscale and streamline their workforces. As it became no longer viable to have such small numbers of staff in such large spaces, they looked elsewhere for office property or have taken out short-term leases in favour of long-term contracts. In response, landlords decided to reduce the cost of office rental in London in a bid to prevent their properties from standing empty. Many even offered substantial deals in a bid to court custom, such as extended rent-free periods and capital contributions. The Investment Property Forum’s European Consensus Forecast has predicted that rents will continue to be driven down further, by as much as 26.6%. They also predict that there will not be much room for recovery until around 2011, when the beginnings of a recovery are expected.
While this is certainly bleak news for landlords and freeholders, the good news for business-owners is that the market for London office space has turned in favour of the tenant. Grade A office space (the industry’s term for the best of the best) has already fallen as low as £45.00 .0 per square foot, the lowest since 2004. These figures, paint a picture where business-owners will be able to undertake office rental in London for unprecedented prices, allowing them to take advantage of all the benefits of a London office space.
The Royal Institute of Chartered Surveyors has recently raised another factor that could force the prices of renting London office space down even further. It is their belief that the growth for office rental in London could fall to ’sub-inflation’ levels by the end of 2009. The reason behind this is that, with so many offices threatening to become unoccupied, there is also an excess of supply over demand. Once again, this looks set to work in the favour of the tenant. Add this to the fact that there are over 12 million square feet of office space being built in the capital and the future for landlords looks pretty grim.
To take advantage of the low prices and the prime locations, prospective tenants would be well advised to hire the services of a commercial property acquisition agent. Using their knowledge of the property market, they will have the best informed knowledge of the locations that are going to offer the best value for money and their negotiating power gives tenants the opportunity to push falling prices down even further.
While the recession may be spelling bad news for certain pockets of the London office rental market, it is offering opportunities for business-owners that, ultimately can only help to improve the state of the economy at a later date.

Upsizing or downsizing, establishing a second or even third office, relocating to a more prestige location or simply finding somewhere that is more affordable in uncertain times – these are many of the reasons that you may be looking for a new office space in London.
While location, location, location is always going to be the mantra when it comes to finding residential property – and may still be a significant factor in choosing commercial office space in London, depending on your sector and your particular needs – there may be another more important choice to make before you decide exactly where you’re going to move to: should I rent a serviced office space or a conventional leasehold commercial property in London?
Each has its benefits and its drawbacks. However, the following key factors should help you decide:
1. Flexibility of contract
There is no real question that serviced office space is more flexible in terms of your financial commitment – contracts tend to be extremely short and can be terminated with little or even no notice. A standard leasehold agreement for a conventional commercial office space in London would be for 5 years with a break in the 3rd year so represents a far more long-term commitment. However the flexibility of serviced offices comes at a premium and generally you would pay much more compared to a conventional space.
2. Flexibility of space
While contracts are flexible with a serviced office, your use of the space will not be and it is likely that, not only will you have to abide by regulations when using the space, but you will also be unable to redecorate or personalize the space to suit your business needs. That said, you can upgrade or downgrade as required – so if the physical nature of your business changes you can adapt quickly and easily.
Conventional commercial office space provides a much more bespoke environment for your office – you can redecorate, refurbish and redesign the space totally according to your needs: for customer-facing and cutting-edge industries such as design agencies, media companies or architects for example may require a more flexible space that reflects their business more effectively, provides a showcase for their services and an attractive place to bring clients. Of course, such a space will mean a certain loss of flexibility in terms of ability to expand or contract at will and therefore will suit well-established, essentially predictable businesses better than new, uncertain or rapidly changing businesses.
3. Price
For most businesses, the bottom line with office space is going to be cost and, while serviced offices offer a great deal of flexibility they are not a cost effective way of housing your business in the long-term. A conventional office space in London, particularly if you have sourced it through a company who can aggressively negotiate rents on your behalf (rather than a commercial estate agent who represents his clients interests first and foremost) will virtually always make the most commercial sense for an established business.

With the take up in office space in the City expected to rise within the next few months, the clamour to get the proverbial ‘foot in the door’ will be high on the agenda for those businesses seeking the most desirable premises within the Square Mile.

Here we give a guide to the various districts in The City to assist those looking for office space to select the right location for their company:

Holborn and Chancery LaneLocated on the western boundaries of the Square Mile, this area is hugely popular with many solicitors and law firms – including the Law Society of England and Wales which has its headquarters at 113 Chancery Lane. Whilst office space options in the area are abundant and varied, for many there are two business addresses that top everyone’s wish list – Southampton Place and Lincoln’s Inn Fields. These two locations are some of the most prestigious across London and rental prices here do reflect this.

Cheapside, St Paul’s & MoorgateHome to multi-nationals including BT, Institute of Chartered Accountants and Legal & General, these three areas have seen a number of major redevelopments recently completed to make the area the principal choice for businesses seeking larger office space requirements within the Square Mile. And with projects such as One New Change and British Land’s proposed 90 metre office tower on Ropemaker Place also past the planning stage, the area will undoubtedly receive yet another boost to its already growing reputation. But for those seeking more traditional premises commonly associated with The City, there are plenty of options still available to you – notably around Gresham Street and St Martin’s le Grand.

Bank and Liverpool StreetFamous throughout the world for being the home of the Bank of England, the roads around Liverpool Street and Bank are a magnet for financial institutions and insurance giants looking to portray the very best image to their clients and rivals. Demand for office space here is on the rise once more and rents will undoubtedly climb to reflect the prestige that comes with occupying such a renowned business address. The vast majority of property around the vicinity of the BoE is Grade II listed; providing occupiers with the history and reputations that many come to expect when seeking offices in The City. For those seeking for a more contemporary space requirement in the area however, skyscrapers such as the iconic 30 St Mary Axe (‘The Gherkin’) will more than cater for your desires. The network of passageways and alleys that burrow their way around the area house many historic pubs and bars ensuring you will always have a venue on your doorstep to entertain clients.

Once you have chosen the area that best suits your business needs, the proactive search for office space in the Square Mile begins.

Abbey Business Centres operate two business centres in the City of London that offer a range of serviced office suites that would be ideal for the smallest start up right through to the largest blue chip brand.

NB Real Estate, the central London office specialist agency, say that the huge interest witnessed from investors in the London market over the past two quarters shows no signs of abating. Many funds have been set up to take advantage of what was often characterised as the best buying opportunity for a generation but have been thwarted by the lack of stock.Yields have hardened, in some cases by over 100 basis points. As a consequence, investors are becoming more adventurous where funding availability allows them to be. Shorter income opportunities are now attracting greater interest as the mist starts to clear and a more positive trend appears to be emerging on the occupier side of the equation.A key factor in this has been the severity with which the development pipeline was switched off. NB Real Estate figures point to a remarkable 92% increase in take-up in the City compared to the previous quarter and an increase of over 50% compared to the same period last year. A substantial proportion of this is represented by Nomura’s take-up of 540,000 sq ft at Watermark Place.  At the same time availability in the City decreased by 14% since the last quarter.Grade A space suitable for major corporate use remains a scarce commodity. It would take only a handful of lettings to take out most of the available space of this type in the City.In the West End there are even fewer ‘destination’ locations with City feel and spec. When such space becomes available they attract premium rents but they do not, of course, typify the general run of West End stock. One is the new scheme at 23 Savile Row where a number of lettings have been agreed at headline rents exceeding £90 per sq ft. Another is Devonshire House in Mayfair where Bain Capital has recently agreed to take about 41,000 sq ft (albeit only 18,000 of additional space). The rent agreed was £90 per sq ft which underlines its premium status but with a rumoured 32 month rent free, a service charge cap and a £70 per sq ft capital contribution there is a bigger story behind the headline figure.

Businesses of all sizes are drawn to London. The capital is the global centre for many diverse industries and is full of attractive commercial property.
With a population of more than eight million and an eclectic mix of people and city offices, London has something to offer every firm. Moving offices or buying commercial property in London is sadly not as easy as one might hope, but with some expert knowledge and office relocation help, firms quickly enjoy its numerous opportunities.
Commercial property markets have struggled following recent international credit shortages. However, falling values have attracted numerous overseas buyers and some commercial property still retains a premium. The recent sale of Mayfair offices by Hermes Real Estate at a four per cent yield is a useful example.
Businesses looking to resize and move to new offices have to consider the cost of moving and the benefits of hiring office specialists to help. By employing an agent, a company can also continue driving its business forward, while an office relocation project manager takes care of the details.
Commercial property agents are best placed to understand these market developments. This ‘inside view’ could be of even greater help to companies moving to London for the first time. Experts say that commercial property agents can offer those looking for office space a number of key advantages.
When representing a tenant, they can be trusted to find a property at the right price – not necessarily one that the landlord is looking to achieve. Equally, the opportunity to harness the insider knowledge of commercial letting agents – who may know about good locations due to come onto the market, can give firms a head-start. Rather than simply scanning available office space and wasting time continually checking what is available, interested tenants can be alerted by those in the know.
The same grounding is also useful when it comes to the crunch. Commercial estate agents are aware of the market moves and will have their finger on the pulse when it comes to knowing what might be around the corner – will the location, for example, be set for major new transport links, like Stratford following the construction work done for the Olympic Games; or is the nearby Tube station set to close for the first six months of the commercial lease? With an understanding of the local area and the market conditions in what are changing times for the property market, an agent can help a tenant find the right space at the right price and make the new site or office relocation that much smoother.
Companies moving to London need first to decide where in the capital they want to be. London has excellent public transport connections, although even small companies looking for budget relocations should consider their choice of location carefully.
By using a commercial property expert, they can find a number of offices and benefit from specialist local knowledge.
New London mayor, Boris Johnson, has new plans to create more open spaces and waterways which investors hope will further add to the city’s qualities. The Times reported his planning advisor, Sir Simon Milton, saying Boris’s big theme is “quality of life”.
So whether it is in or out of work, companies planning office relocations can expect their staff to enjoy the best London has to offer.

Real Estate Opportunities plc,listed in London, Dublin and The Channel Islands, better known here as the debt-laden owner of Battersea Power Station, announced today that it had received full planning consent, through it ’s Treasury Holdings subsidiary, for the £700million redevelopment of Ballymun Town Centre in north Dublin, close to the airport. Most of REO’s assets are in the hard hit Dublin area. At 255,000 m2, Spring Cross, as they say the development will be known, represents the largest mixed use town centre permission that has ever been granted in Ireland.   The scheme includes 360 apartments, 60,000m2 of retail, 35,000m2 of offices and 11,000m2 of other uses including a substantial leisure and civic amenities offer with cinemas, bowling alleys, a public library and restaurants. Whether Spring Cross will ever be built by REO is doubtful, as is the need for such a development in the forseeable future. The company is struggling for survival.  Its interim results showed a 15% fall in the value of its assets, including Battersea Power Station, meaning its assets totalled £1.78billion. Its liabilities are £1.87billion. REO is confident it can secure its future through rolling over and renewing loans, and that it will be supported by Ireland’s National Asset Management Agency, which will take property loans under state control. But its auditors warned that there are “material uncertainties” about the business as a going concern. REO banks principally with Bank of Ireland and Bank of Scotland. But REO is hardly a master of timing, having bought the cursed Battersea for £400million in 2006, it has ploughed considerable sums into getting planning approval for overly ambitious plans which Boris Johnson disliked, and currently it has applied to build  3,700 homes, 1.5m sq ft (139,000 sq m) of office space and 500,000 sq ft of shops, restaurants and leisure facilities, at a cost of £4billion. It also hopes to co-fund an extension of London Underground’s Northern Line to the site. English Heritage has  put Battersea Power Station on its Buildings at Risk Register since John Broome, then chairman of Alton Towers, who bought the site for £1.5million in 1987 to use as a theme park, took the roof off.  He sold it on to the Hong Kong developer Victor Hwang, whose Parkview owned the site between 1993 and 2006, and had argued that it should be allowed to tear down the chimneys, which it said were corroded. REO recently said it was looking for a an equity or debt-financed partner, which would take a stake in the project, for the Battersea scheme. Peter Byers, the REO finance director, said it was “too early to comment” on the sort of partner the Battersea project could end up with but a number of sovereign wealth funds are believed to be interested.

Real Estate Opportunities plc,listed in London, Dublin and The Channel Islands, better known here as the debt-laden owner of Battersea Power Station, announced today that it had received full planning consent, through it ’s Treasury Holdings subsidiary, for the £700million redevelopment of Ballymun Town Centre in north Dublin, close to the airport. Most of REO’s assets are in the hard hit Dublin area.

At 255,000 m2, Spring Cross, as they say the development will be known, represents the largest mixed use town centre permission that has ever been granted in Ireland.   The scheme includes 360 apartments, 60,000m2 of retail, 35,000m2 of offices and 11,000m2 of other uses including a substantial leisure and civic amenities offer with cinemas, bowling alleys, a public library and restaurants.

Whether Spring Cross will ever be built by REO is doubtful, as is the need for such a development in the forseeable future. The company is struggling for survival.  Its interim results showed a 15% fall in the value of its assets, including Battersea Power Station, meaning its assets totalled £1.78billion. Its liabilities are £1.87billion.

REO is confident it can secure its future through rolling over and renewing loans, and that it will be supported by Ireland’s National Asset Management Agency, which will take property loans under state control. But its auditors warned that there are “material uncertainties” about the business as a going concern. REO banks principally with Bank of Ireland and Bank of Scotland.

But REO is hardly a master of timing, having bought the cursed Battersea for £400million in 2006, it has ploughed considerable sums into getting planning approval for overly ambitious plans which Boris Johnson disliked, and currently it has applied to build  3,700 homes, 1.5m sq ft (139,000 sq m) of office space and 500,000 sq ft of shops, restaurants and leisure facilities, at a cost of £4billion. It also hopes to co-fund an extension of London Underground’s Northern Line to the site.

English Heritage has  put Battersea Power Station on its Buildings at Risk Register since John Broome, then chairman of Alton Towers, who bought the site for £1.5million in 1987 to use as a theme park, took the roof off.  He sold it on to the Hong Kong developer Victor Hwang, whose Parkview owned the site between 1993 and 2006, and had argued that it should be allowed to tear down the chimneys, which it said were corroded.

REO recently said it was looking for a an equity or debt-financed partner, which would take a stake in the project, for the Battersea scheme. Peter Byers, the REO finance director, said it was “too early to comment” on the sort of partner the Battersea project could end up with but a number of sovereign wealth funds are believed to be interested.