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Why low office vacancy in London is good news

If you’re looking for office space in London, you might think that it is bad news to find that there is a low rate of office vacancy in the city.

According to Statista, London office vacancies fell from just over 10.2% of all office space in London in 2010, to 7% in 2013, and were predicted to continue to fall.

The report forecasted that London office vacancies would drop to below 5% in 2017 and that by this year, just 4.4% of office space in London would be available to new tenants.

For those currently looking for London office space, an extremely low percentage of available workspaces might sound like bad news.

But while low supply and high demand is generally linked with higher rental costs, it is also good news for businesses as a sign of the capital’s thriving commercial community.

When is low availability of office space in London a good thing?

The low rate of empty office space in London is a sign that demand is good – and that means more businesses are looking to locate in London.

Combining new start-ups with those that have survived over a number of years, this is all a sign of a healthy economy in the capital, which in turn explains why demand is so high and supply is relatively low.

Statista explains: “Office vacancy rates are understood as one of the indicators foretelling the future good or poor economic performance of the commercial sector in London.

“The lower the office vacancy rate, the better conditions for business, as companies have confidence in expanding and upgrading, and the market witnesses numerous new entries into the business.”

How to deal with a lack of vacant offices in London

There are several solutions to office occupancy rates in London being so high at present, and at Serviced Office Company we can help with those.

• Serviced offices in London give you somewhere to work that is already fully furnished and does not require you to commit to acquiring premises or a long-term lease.
• Alternatively, our meeting rooms in London can be used as a location for high-profile meetings, while you work the rest of the time from somewhere else.
• Virtual offices in London take this a step further, giving you a postal address and phone number in the capital even though you are not based here at all.

In this way, no matter how high the London office occupancy rate gets, you can still get access to a virtual office address in London, with all of the usual status that a presence in the capital brings.

With our London serviced offices, meeting rooms and virtual offices based at Davenport House adjacent to Canary Wharf, Serviced Office Company is the solution to a wide variety of potential problems when it comes to finding London office space with immediate availability.

To find out more, contact us today. You can email us on info@servicedofficecompany.co.uk or call 0800 319 6600 to discuss our workplaces in London and also our locations in Manchester.