Investing in Commercial Property in London
London is one of the most exciting and thriving cities in the world for businesses to establish themselves. Not only is there a bustling financial district, there’s also a growing arts scene and a fashion industry that makes the UK economy millions year upon year. Whatever type of business you operate in, there’s definitely advantages for your company investing in some commercial property in London, the only problem is choosing the right area. Here’s how to make a decision on where’s best to invest:
- Source the best area for your industry
London rental prices are sky high, especially when it comes to commercial property. Weighing up whether the cost of a trendy and well know location will help benefit your business is crucial before choosing an area to settle. With many areas of London cropping up as the new hip place to be year on year, depending on the type of industry you work in, you may be able to get more for your money in a less known borough which is set to become popular over the coming years. Areas that are synonymous with certain industries can have both benefits and drawbacks as it can give your business more credibility or be positioned too close to strong competition, speak to experts at Bilfinger GVA for advice on the best places to invest.
- Think about the future
Financially, investing in property in an up and coming area may seem like a great idea but when it comes to thinking about the long haul, it may be worth re-evaluating your location of choice. If you’re planning on making a long-term investment for the future of your company, an up and coming area may be only be the in –thing for a couple of years and investing in somewhere more established could be more beneficial in the long run.
- Cost
Undeniably, London is expensive and the most well-known business streets are going to be competitively priced. Looking at locations close to these areas could be a good idea to try and mitigate the cost whilst still being close to the most well-known districts for your industry, in order to boost your business’ credibility.
Wherever you choose to invest in commercial property, doing your research beforehand is essential. Check out where competitors are based, what the better areas for your business are and most importantly where you can get the best building for your money that will help to expand and grow your business.
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