At Amber Moves, we have noticed a trend in office moves and it seems more offices are moving into prime areas such as Canary Wharf, The City and the West End. A report by NB Real Estate and Oncor International have confirmed why this is such – the City of London is no longer in the top three of a league table showing the most expensive office locations in London.
The West End of London has seen the steepest fall in rents, with almost half wiped of its rental values. This is good news in all for London. London office rents had been viewed as pretty pricey but they are now much more competitive and the collapse in Sterling versus the Euro has helped the process along. As confidence comes back offices will need to make decisions on where to locate new operations and account for corporate team building facilities, meaning London’s cheaper real estate costs should now work in London businesses favour.
What does all this mean for Amber Moves? The time and investment we have put in to increasing our share of the corporate relocation market should pay off. Our membership of the British Institute of Facilities Managers also raises our standing within the industry and it is safe to assume, that there may be a bumper crop of London office moves to look forward to in the coming months.