Serviced Offices in London
The serviced office space market in the UK is a thriving industry. London's West End market offers the worlds most expensive commercial real estate. Relief may be around the corner though, as developers put together construction plans for the city. London is one of the leading financial capitals in the World and the ability to do business with both North America and Asia in the same day, remains a strong draw for many large organisations.
Some areas of London are less expensive, particularly on the outskirts. Rental could cost £25 per square foot compared to the £85 tag of the West End.
Employment rose by about 0.9% in 2005 from the previous year and this looks to continue. In response to this growth developers are expected to create over 10 million square feet of new office space by the end of 2008. Property lease value is determined by a ratio of supply versus demand and it appears that the market is stable at the moment in London.