Commercial Property London: Key Areas For Business

Commercial Property LondonLondon, the capital city of the United Kingdom, has always had a strong strategic advantage over other cities.  With its position in the time zones, it is able to do business with both East Coast and West Coast of America, Europe, the Middle East and the Far East.  This has made London a key financial market in the world and an ideal place for Commercial Property London.   It was feared that the credit crunch and banking collapse would mean London lost its significant but with the return of huge bonuses and the announcement of record profits, it appears that London’s position as a key financial centre has been reinstated.

London also remains a key place for global businesses to have an office or outlet.   So there is considerable global competition for new office space in both the City and the West End.

Commercial Property London : So where are the key areas for business?

City of London

The City of London extends in the East to Petticoat Lane and in the West to Holborn in the north to City Road and in the south to the River Thames.   It is where the financial institutions including the Bank of England and the major insurance companies, the futures and commodities markets and the metal exchanges, Lloyds of London and the Baltic Exchange.   The City is steeped in thousands of years of the history of one of the most significant financial and trading centres of the world.  There are quirky eating and drinking establishment hidden down Dickensian passageways that will make you feel like you are stepping back into history.   The City is bordered by the Petticoat Lane market and next to Lloyds is the delightful Leadenhall Market.  There is no shortage of classy shops and exclusive tailors and shops selling luxury goods catering for the well-heeled workforce.   Similar to New York, the City of London does not disappoint in terms of the stunning architecture and sheer sense of place.   For big business, it is the number one destination in the UK to do business.

West End

Again the boundaries are vague but broadly extends from Holborn in the East to Marble Arch in the west and from the River Thames in the south to Warren Street across to the Westway in the north.  It  encompasses such world renowned areas as Soho, home of the sex clubs, Chinatown, theatreland and the TV and creative industries.   Famous coffee shops nestle beside legendary restaurants, post production houses for film and TV and other creative industries.   As well being home to most of the most famous theatres in London, you have the Leicester Square Odeon where the majority of film premieres are held.  You can find Ronnie Scott’s Jazz Club here next to Jimmy’s Greek Restaurant and a few streets away from Bar Italia.   You also have Covent Garden within this area, the former home of the fruit, vegetable and flower markets of London but now converted into a large piazza with street performers and entertainers.   The West End appeals to any business which feeds off the TV and film industries.   Architects, web designers, graphic designers, animators.  You name it, they can be found here.   The rents and service charges are astronomical but for some businesses it is either here or nowhere.  They need the private clubs (Groucho, The House), the exclusive restaurants (The Ivy) in order to network and schmooze their next project into fruition.  It is vibrant, restless and exciting.  It feels cutting edge and innovative.   An inspiring place to do business.

Westminster

If you need to be near Parliament, to have the ability to bump into the movers and shakers within government, then you are going to centre around the Houses of Parliament based in Westminster.  So this extends north up to Trafalgar Square and the Mall (the broad avenue leading to Buckingham Palace) and again south bordered by the Thames with Westminster Bridge and the view of Big Ben being one of the most famous sights in the world.   Off Parliament Square can be found Westminster Abbey and Westminster Cathedral so it is also home to the ecclesiastical hierarchy.  The Ministry of Defence occupies vast amounts of realty.   This is an exciting area for businesses needing to constantly lobby politicians or wanting to feel near to the power of politics.

Fleet Street/Strand

Situated just north of the Thames the long road which starts as The Strand at Trafalgar Square and the becomes Fleet Street after the Law Courts, this area is home to some very impressive buildings.   There is the Savoy Hotel, famous for its American Bar and Savoy Grill in the Strand and further down the Waldorf Hotel, famous for its tea dances.   The law courts are spectacular buildings both inside and outside.   Fleet Street used to be the home of the newspapers where not only all of the journalists where to be found for the great newspapers of the UK but also the actual papers were printed and distributed.    A lot of this production has moved out to Docklands along with most of the journalists and there is only the notorious El Vinos Wine Bar to remind you of the days when journalists smoked and drank to excess whilst exchanging stories.  An interesting place for businesses with no shortage of good eateries and right next to Covent Garden, home of the English National Opera and the Royal Ballet Company.   Again rents and service charges sky high because of the enviable central location.

Waterloo/Borough/London Bridge/Tower Bridge

South of the river has seen a huge amount of new development.  Even Greater London House, former home of the Greater London Council has found a new life.   There are many large law firms, accountants and insurance companies based south of the river near to Tower Bridge, London Bridge and Southwark Bridge.   Waterloo is a key railway station serving the south of England.  Very near to this station and next to the river is the South Bank, home to the Millennium Wheel, the Royal Festival Hall and the National Film Theatre.  Further  down towards the City on the south of the River Thames is the Tate Modern Art Gallery housed in the former Bankside Power Station and served from the City by the Millennium Bridge.   London Bridge Railway Station serves Kent and the south east.

Kings Cross/Euston

This is where the most exciting developments are in progress with construction work at Kings Cross speeding to develop a high speed link to the European Railway network.   The Eurostar currently runs from Waterloo but will be running from Kings Cross via the high speed rail link when the construction project is concluded opening up the whole Eastern corridor right down to Ashford and Dover.  There will much development of the whole area around Kings Cross which was formerly a depressing red light area of London.   Kings Cross Station itself has had a spectacular makeover and now sports a champagne bar with all the fabulous Victoria buildings restored to their former glory.  This area will be highly significant going forward because of its high speed links to all of the key cities of Europe.   To the south of Kings Cross and Euston Stations are areas such as Bloomsbury and Russell Square leading down to Farringdon and Clerkenwell.  There were some real bargains to be had in these areas but there are few undeveloped areas now and rents and service charges have climbed.

If you liked this article about Commercial Property London or would like a free consultation with Dominic, then fill in the form on the right of this page.

One Response to “Commercial Property London: Key Areas For Business”

  • Bizwrite:

    You do not know what you are talking about. Eurostar goes from St Pancras not Kings Cross. There is no speccific information in this article whatsoever about actual developments in the commercial property market

Leave a Reply

Dominic Beeton, Solicitor
Get Discount
Keywords
  • An error has occurred; the feed is probably down. Try again later.