With the tide turning for commercial rental market in London and suburbs, strong office demand coupled with dearth of quality space have given way to rising commercial office rents. While a laid-back approach may suit a homebody, taking insistent steps to acquire a suitable commercial property requires hard work and commitment. This is where the team of Davis Brown can help you acquire a suitable commercial property in London.
London is the technological and financial capital of Europe. With the highest level of office development taking place in 20 years, this vibrant city is becoming the city of choice for commercial property sales and letting. Totaling more than 14 million square feet of office space in future development, many international companies are making London their own commercial city.
According to the latest news, following the UK’s decision to quit the EU, the U.K. royal family’s commercial property arm will follow through with a £100m West End development that had been placed under review. The Crown Estate (which owns numerous buildings in the area) completed the £400m St James’s Market redevelopment with Oxford Properties, creating 260,000 sq ft of office space, five shops and seven restaurants.
In addition, Crossrail is expected to run on full speed by 2020. This is having a tremendously upbeat impact on the growth of commercial properties in the London area. Also, London office rents now range from £66 – £149 per square foot (per annum), which create an even more demand for commercial properties in London.
Consequently, the demand for commercial property in London is increasing at a rate not experienced before 2015 and is expected to rise further. A business address in London brings with it an aura of elegance and prestige. The new developments taking place in London, along with London’s image as a commercial hub, bring myriad groups of people, from businessmen to tourists that help push demand for commercial rental even higher.
Sitting back and ‘hoping’ to come across the right property, or looking through numerous newspaper ads to find a suitable property is a thing of the past. One has to be hugely proactive when it comes to finding the space you need. The market is complex and the paperwork ever more perplexing. Developing relationship with the right professional real estate agent who knows the intricacies of the market and its related formalities in a bustling city like London ensures piece of mind in commercial transaction.
Established since 1901, Davis Brown is a specialist real estate independent firm of Chartered Surveyors in London. We offer advice on all sectors of the property market and can advise on sales, acquisitions, investments, letting, inter alia valuations, building surveying, project management, energy performance certificates, schedule of dilapidations and party wall awards, among others. We offer our services as Estate Agents in W1 and the contiguous areas, Commercial Agents in London and the UK. We act for a broad range of clients such as private individuals, corporates, PLC’s, charitable foundations, trusts and offshore companies.
We are the preferred commercial agents in London and have the expertise and local knowledge to find the right property for you in London and the UK.