Office Space and Commercial Property in London Bridge
Office Space to Rent in London Bridge: A guide to basing your business on the Southern bank of the Thames
The area known colloquially as London Bridge is loosely defined as the streets surrounding the Thames-spanning bridge itself. A location steeped in history, it’s also an area undergoing extensive development. Numerous new skyscraping buildings such as the Shard (see below), bring with them prime opportunities for businesses to snap up office space in an area that’s already highly desired as a location for offices, but that promises to skyrocket in terms of commercial growth.
At either end of the Bridge, you’ll find a tube station – Monument at the north end and London Bridge on the southern side of the river. Cannon Street and London Bridge rail stations are also nearby. The area houses several shopping centres, such as the famous Borough Market, which sells food from all corners of the globe.
Travelling to London Bridge
The convenience of London Bridge’s transport infrastructure makes it appealing to businesses that need their offices to be easily accessible – especially if many or most of their employees are likely to commute from further afield. Borough Tube station provides access to the Northern line with both Elephant & Castle and London Bridge offering access to the Jubilee, Bakerloo and Waterloo & City lines. The area is also easily accessible by National rail service from either London Bridge or Waterloo station.
For those who wish to avoid the trains, bus services from Clapham, Shoreditch and Dulwich run throughout the day and there are several bike docking stations located nearby.
The Shard and its Effects on Office Space in London Bridge
For years, the south bank of the Thames has been a rather poor neighbour to the high rise, high-end offices in the City. It has slowly changed with the addition of a variety of commercial, residential and leisure buildings that started sprouting up in Waterloo, and gradually spread eastwards. But as any cabbie will tell you, the fastest way from Victoria to the City is via London Bridge. Now though, there is change afoot on this part of the south bank. Residents of the capital have welcomed a new building – a skyline-dominating monolith, extending for more than 1,000 ft (310m). By the time it opened to the public in February 2013, London’s skyline had changed forever.
The Shard, or to give it its more prosaic address, 32 London Bridge Street, extends to more than 580,000 sq ft of top-quality office space and accommodates a 205-room hotel, a spa and several high-end residential units which command high prices.
The impact of a building this size in the city cannot be underestimated, especially in an area where tall buildings have not traditionally been located. Before it was built, it was estimated that the project would create up to 12,000 jobs to service the residential, hotel and commercial elements of the building, and it has certainly drawn more tourists to the already-popular London Bridge area (there is a viewing platform – The View From the Shard’ – situated on the 68th floor, which gives spectacular views of the capital).
There are a number of other serviced offices in London Bridge – or nearby – which are nearing completion, or have recently been completed. With these new developments, which include Harlequin Building, The Place, More London and Blue Fin Building, it is becoming obvious that London Bridge office space is fast becoming a viable alternative to the more established locations of the City and the West End. High-end offices in London Bridge have been rising steadily in price since the beginning of the millennium, and the best space in the Shard costs more than £60.00 per sq ft. This will compete with the City, but it is a significant discount on West End rents, for what may arguably be the best building in London. There are indeed a number of companies which have already given their seal of approval to the area and snapped up an office here including Norton Rose, PWC, Ernst & Young and IPC Media.
About DeVono Cresa
DeVono Cresa first opened our doors in 2003. From the start, we have offered our services to tenants, and only tenants. We don’t work for landlords, as this would present a conflict of interest.