London is not only Britain’s largest city by some considerable way. As the capital, it is also the centre for most of the country’s commercial and business activity. Indeed, its extensive transport links with Europe and the rest of the world make it a major hub for global business, and those with international markets could do worse than base themselves in the heart of London. Despite having a reputation for being expensive as a city, the large supply of office space means that prices are competitive. Here are some tips on choosing the right office space for you.
Find the Right Office
Size is an important factor. You don’t want to be paying for space that you are not using, but constantly having to move to larger offices will be very costly in the long term. Additionally, you’ll need to have enough space for all your employees to work productively in, and adequate room for storage and filing. Don’t forget to allow for meeting and conference space if required. Leisure and recreational space may also be important, depending on how many employees you have and the nature of your work. Once you know how much space you need, you can set about looking for your office space.
Find the Right Location for Your Business
Claim up to $26,000 per W2 Employee
- Billions of dollars in funding available
- Funds are available to U.S. Businesses NOW
- This is not a loan. These tax credits do not need to be repaid
Your office location is not only important to you and your employees but also to your clients. It needs to be easy to get to and conveniently located for clients that regularly visit your office. The attractiveness of the building in which you are housed and the appeal of the area are also important factors to consider. While most areas of London have public transport links, the city can still take a long time to travel across. Think about who your clients will be and choose accordingly. If your clients are from across the UK, being close to the main rail hub (Euston/Kings Cross/St Pancreas) will serve you well, while those with mainly a London clientele may prefer to be in the central business district between Monument/Bank and Canary Warf.
When you are looking for commercial property Monument stands out. It is in the heart of the city’s thriving commercial centre and has excellent transport links. London City Airport is just a short ride away by Docklands Light Rail (DLR).
If there is no canteen in your building, having cafes and shops where your staff can enjoy lunch is important and having suitable places to host clients is also a bonus.
Choose Between Renting and Buying
Making the decision to rent or buy is an important one. There are pros and cons to both, but even large established corporations often choose to rent because of the flexibility it gives should they decide to move. There are financial benefits to renting office space too, as businesses can deduct their full rent for tax purposes.
Use Experienced Estate Agents
It’s important that you choose letting or estate agents who specialise in commercial property and office space. They will be able to provide useful information on the area and find the ideal property for your business. Agents in London will also help you decide between the various districts.
