London Mayor Boris Johnson has announced plans to attract overseas business to the capital. Addressing the Mipim Property Conference in Cannes, he promised foreign companies rent-free office space in London for one year, in addition to giving them access to advisers to help them establish their business in the UK.
The ‘London Now’ initiative comes at a time when Mr Johnson has been under fire for not promoting London as well as he could.
A week ago some of the High Street’s biggest companies criticised him for failing to market the city’s image adequately abroad. He told the conference: “My message to overseas businesses is loud and clear. You will not only receive the warmest of welcomes but we will do all we can to ensure you get off to a flying start.”
The weak pound makes London commercial property an attractive opportunity for foreign investors.