From warehouses, to railway arches or traditional office space to co-working spaces – London has it all. Finding the right rental space for your business is key to your success now, and in the future. Read on as we share our top tips on corporate rental in London.
Location, location, location
This well known mantra really is worth repeating when searching for a new business home. Get to know the area you’re interested in, find out about property availability, rental values and tenant demand.
When seeking out the perfect location for corporate rental in London, consider your business priorities. An office based business will require a location that staff can commute to easily. Restaurants, cafes, shops and beauty businesses will seek out properties where high footfall is at a premium. If you’re running a distribution warehouse, transport links will be your priority.
It could also be worthwhile to check out any initiatives or incentives on offer in the London area you’re interested in. Business Improvements Districts (BIDS) and Local Enterprise Partnerships (LEPs) which give the business owner a voice in determining the future of their trading area.
Know what type of corporate rental suits you best
London is saturated with commercial properties but knowing which style of corporate rental is imperative to finding the right location.
Office Space
A priority for many businesses across the capital. Office space ensures dedicated work space for your employees. Utilised by established, growing and start-ups, office space allows businesses to work in collaborative environments.
Workshop/Warehouse space
Ideally suited to business owners seeking out space to carry out more creative, inventive business practices – those that require access to storage space and ample room for machinery. The workshop/warehouse space is ideally suited to areas with strong transport links, such as rail and tube services and access to major road links across the capital.
Light industrial space
Whilst London is no longer a city focussed on manufacturing, it still boasts storage space for businesses who do revolve around industry. If you’re looking for large loading bays and considerably sized storage space, the light industrial space is an option for you. Focus on areas that offer close proximity to rail, tube and major roads.
Studio Space
More small and condensed than conventional office space, the studio space offers a compact space for the more niche type of business: writing, programming or photography and video services. Studio spaces still provide many of the amenities of a typical corporate space such as staffed reception areas, on site facilities for employees and managers who oversee the general site.
Co-working space
New to the game but thriving within the London business scene is co-working space. It’s likely that many new businesses will never find the need to rent out typical office space. Despite this business owners don’t always opt to work from home, preferring instead to rent out desk space. This corporate rental in London works well for freelancers, remote workers, start up teams and consultants who want to bridge the gap between working from home and interacting with other like minded professionals.
Know what the space provides
Finding the right area is second only to choosing the right rental space. Once you know where you want, hone in one what you want and what you need.
Is the space big enough for today and tomorrow? If you’re a growing business it might be worth opting for a larger space, one that will accommodate your future needs. What room space do you need? Storage, meeting rooms, staff rooms, rest rooms all need to be factored in. Ensuring that your employees can carry out their duties is key to business success.
Consider this possibilities too:
- Local amenities
- Parking facilities and restrictions
- Congestion charges
- Transport links
- Delivery facilities/restrictions
- Broadband coverage
- Proximity to your target clients
Know your budget
A key principle in business – know what you’ve got to spend. Rental is going to be one of your biggest outgoings afterall. Research key trends and forecasts before you commit to anything and do seek out the professional services of a rental agent.
Corporate rental in London offers enviable advantages compared with other cities in the UK. Having a central London business address can significantly improve your business reputation alone. London’s ranked as one of the world’s most influential cities and has been recognised globally for its economic benefits. Setting up shop in the capital reinforces the notion that your company is thriving and can be trusted. And, with good advice and the right commercial property, it couldn’t be simpler.
