June 13, 2011
London’s commercial property market looks to have turned a corner after the recent post-recession decline, as a growing number of organisations have begun making enquiries regarding relocation to London.
Current reports show that sectors enquiring about commercial space in the capital include accountancy, law and IT companies, as well as the more predictable financial services.
The average value of commercial real estate in London increased by 20% in May, according to industry expert WA Ellis, who claims that as well as moves within the UK, "London property appeals to foreign investors because of the continued weakness of sterling, the expected continuation of capital growth and ever-increasing rental yields."
That view was echoed by Andrew Horne, Media and Communications Manager at the London Chamber of Commerce and Industry, who labelled the English capital the best place in the world for commercial activity.
He suggested that success breeds success, so setting up in the midst of such a prestigious city can only be considered a huge positive.
The possibility of developing alongside some of the top firms in the market is available to those in the city.
"Key selling points of the capital are a quality workforce, favourable time zones and a stable legal system. We firmly believe London is the best place in the world to locate a business," Mr Horne stated.
