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West End Office Space is ‘Worlds Most Expensive’ report Abbey Business Centres

02/12/2009

Recent research from commercial agent CB Richard Ellis showing that London’s West End has yet again held on to top spot as the world’s costliest office market will not come as a great surprise to many observers out there.

Even with the recent economic downturn severely affecting office rental prices in the area over the last 18 months, the district has managed to stave off competition from Tokyo, Moscow and Hong Kong to retain the ‘accolade’.

For those organisations looking to rent West End office space on a budget then, the prospects of sourcing suitable workspace may seem bleak – even with the plentiful supply of commercial space currently available.

But there are options open to you:

  • For those with smaller requirements, you could share an office with another company. Many businesses with spare office space have chosen to supplement their income during the recession by renting desk space to other firms on a monthly basis.
  • Have you considered other parts of London outside the West End? Whilst the area and its transport links may play a key benefit to certain businesses, it may not be that vital for others. Office space in the City or Canary Wharf for example may be better suited to your budget and brand image.
  • Finally, have you weighed up the benefits of a serviced office? With all utility costs covered and no costly agent fees to pay, serviced office space is the avenue of choice for many SMEs looking for that perfect office location. You also receive a bill covering all your costs once a month allowing for an easy budgeting process – ideal in the current economic climate.

Choosing the best course of action for your business is vital and shouldn’t be taken lightly.

Abbey Business Centres operate four business centres in Central London, including our serviced office space in Victoria, and we would be more than happy to discuss your London office space requirements with you.

Call us today on 0800 634 6346 or calculate how much serviced office space you may require online.