Serviced Office Providers Demonstrate Confidence in London Office Market
Serviced office providers remain confident about the need for flexible office space in London, as a flurry of London business centre launches shows.
The latest new entrants come from Clarendon Business Centres which has announced plans to open two new locations in the capital. The Oxford headquartered company already operates ten business centres, one of which is in London. Their new centres ΓÇô both due to open in October this year ΓÇô will be in Marble Arch in the West End and Fulham in West London.
The company opened its first London business centre, also in Fulham, last year. Such is the demand for serviced offices in this location that they currently have a waiting list for space.
Clarendon is far from alone in identifying the demand for serviced office space in London. i2, which specialises in providing Grade A space in major cities across the UK, will soon launch its latest centre within one of the most iconic buildings in Bank. The company has already expanded its Mayfair premises this year, indicating strong demand for its serviced office product in both the City and the West End.
Serviced office giant Regus too has been expanding its Central London offering with new business centres set for several locations, including Euston, Piccadilly Circus, Kensington and Paddington.
ItΓÇÖs a similar story among serviced office providers specialising in design-led space. The Office Group continues its rapid expansion in Central London with the acquisition of a building in the West End, while Landmark Plc has taken an additional floor in Old Broad Street for an expansion which was 77% pre-let before work had begun.
Indeed, despite London office prices being the highest in the UK, demand for space in the capital shows no signs of slowing down. After all, serviced office space offers the opportunity to secure space in London without having to make a long-term commitment. For many businesses this is a more attractive option than signing a five-year lease.
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