Over the past ten years London’s economic fabric has been permanently altered by key business zones, with start-ups flocking to Silicon Roundabout and a renewed appetite for East End properties following the 2012 Olympic Games. But of late the prestige of the West End has seen home-grown and international businesses flock in their droves.
The area is home to a number of industries – investment and law firms flock to exclusive Mayfair for a postcode guaranteed to impress clients, while creative Soho is the corporate base for a number of media, PR and advertising companies. Covent Garden is suited to both finance firms and retail ventures, and Oxford Street is famous as a fashion landmark.
Known for its hub of innovative businesses and entrepreneurs alike, companies such as Burberry, Mulberry and Thomson Reuters have established themselves in the West End.
Doing Business in West End
The West End district offers serviced office and co-working environments with history and character in period buildings in prestigious locations. There are great award-winning restaurants, fantastic shopping opportunities, transport links and local facilities.
Sarah Pollard, Communications Director at advertising agency Bartle Bogle Hegarty, said “We can walk to many meetings from where we are and, of course, we are surrounded by the best restaurants and shops in the world!”
Grade A flexible office space prices in the West End are based ‘per person’, which normally equates to approximately 60 sq ft for a fully furnished and cabled office on a ‘ready-to-go’ basis.
Price estimates for West End areas: (Per person, per month)
• Soho – £600-£700 per person per month
• Mayfair – £700-£800 pppm
• Convent Garden – £900-£1200 pppm
Daniel Szweda, Head of Broking at Instant Says: “London’s west end continues to be a strong market and a key market for us globally. We receive a large number of enquires not only from existing London-based business but also internationally. The area is attractive to tenants as it has a vibrant culture, excellent transport links and central location. Its diversity also ensures that many types of businesses are located in the area from hedge funds in Mayfair to film production companies in Soho. Demand is always very high in the west end, which means a high price per square foot but the benefits are superb and the quality of office space exceptional.”
The new series of Instant’s city guides provide international business owners with insight into noteworthy locations in London. Research for the West End city guide has shown that offices in Berkeley Street Mayfair are some of the most sought-after in London.