Office space is not just a place for employees to carry out their jobs – the right location can encourage more productivity and higher morale, improve relationships with clients and ultimately benefit your business.
Particularly in London, the cost of office space is likely to be the largest expense your company will incur so it’s particularly important to get the location just right. One of the factors determining the best place to locate your business is industry sector. Certain areas of London are strongly associated with certain types of business so this might be your first consideration when narrowing down the choice.
For financial firms, locating within The City of London has been a tradition for hundreds of years, not least because is it home to the Bank of England. This longstanding history as a business hub means transport and communication links are second to none – mainline rail lines into London are designed to head for the City from all around the UK. Rents are obviously very high in core areas but there are more reasonable properties available too so don’t assume it’s out of your price range.
This area of London has become a mecca for media and creative businesses. This gives it a distinctive culture by day, as well as its renowned vibrant nightlife. It is easily accessed from a number of underground stations and Charing Cross mainline rail. Much of the office space here has been converted from light industrial buildings, or old houses, so there are a range of spacious and airy offices available at all price levels.
This is a more sedate area than some others in London, with many quiet garden squares and striking townhouses. It is rich in literary history so many publishing related businesses choose to locate here, as well as some financial services which may have found the City too expensive to make sense for their business needs. Euston station is very close by which provides fast rail links to Birmingham and Manchester.
Many firms who feel they cannot afford central London may be pleasantly surprised by the range of properties available in the Kings Cross area. It has been regenerated due to the Eurostar terminal being relocated there, so there is a large amount of brand new office space available. As it does not have a heritage of a specific industry sector, any type of business can feel at home here.
Although the South Bank is centred around Waterloo mainline rail station it has not traditionally been the first port of call for businesses to locate, focusing more on the arts, with the Tate and Royal Festival Hall being the centrepieces. This means that there are some very reasonable options available in terms of office space. With the Waterloo and City line taking only a few minutes to the heart of the city and Covent Garden and Soho within easy walking distance across the river, this is undoubtedly a well-connected area.