Should your company make the move to Mayfair?

In recent months, demand for office space in Mayfair has risen – recovering confidence after the financial crisis and expiring leases on existing spaces has influenced this to some degree. It’s estimated that around 3.3 million square feet of office space was on the market for potential tenants in the first 3 months of 2014. This figure is almost twice as much as the previous year, with deals concluded amounting to 2.4 million square feet of space.

Pack leaders

Whilst Canary Wharf and Docklands are leading the pack in terms of prime office locations, upmarket neighbourhoods such as Mayfair and Knightsbridge are also seeing their share of big names. Companies poised to sign leases for London office space include Google (they’re looking at offices comprising 161,350 square feet of space at St Pancras), Transport for London and Estee Lauder, as well as DLA Piper and Societe Generale.

Competitive market

There’s definitely healthy competition for office space in Mayfair and across the capital and as the year progresses, choice could diminish whilst rental rates are set to rise. Those looking to make the move to Mayfair can take their pick from several commercial property consultants in the area. Occupa on Yarmouth Place can provide advice and assist in the hunt for the perfect office space, whilst renowned property experts Carter Jonas LLP have been in business since 1855 and are sure to help you find what you are looking for.

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