INDUSTRY NEWS

Office space located away from capital’s centre holds great potential, according to expert

London office space situated on the edge of the city centre is fantastic for businesses looking for a location with a significant amount of potential, according to one expert.

Chief executive of the British Council for Offices, Richard Kauntze, stated that the once-overlooked parts of London, such as Paddington, were now becoming areas of great importance for businesses – with regular new developments undergoing construction, thus attracting even more firms to these areas.

Mr Kauntze stated: “Those kinds of areas… still have enormous potential and they generally do offer significantly cheaper rents than the traditional centres of the West End and (the) City.”

He finished by adding that while the ultra-premium markets were still located in the heart of London, the market is expanding, opening up new areas to potential redevelopment projects and future investment.

Unsurprisingly areas with low crime rates hold a significant pull for businesses – with the likes of St Johns Wood, Belgravia, Chelsea and Mayfair all generating a great amount of interest.

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office space