How to Value a Commercial Property and Determine Rent in London

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London serves as a hotspot for commercial property and is known to have one of the most competitive real estate markets in the world, with a wide variety of providers and prospective occupants interacting daily to ensure that businesses conduct their work in an ideal environment. Due to this competitiveness, it is vital that businesses understand pricing dynamics before signing a lease for an office space, retail shop, or industrial premises in the British capital. In this post we will examine how commercial property in London is valued and how these valuations impact rental rates.

What is a Commercial Valuation?

Valuation is a process that aims to determine the value of a commercial building. This process often occurs when a property changes hands (either by being sold or leased), or for tax and insurance purposes. As a prospective tenant, understanding the valuation process can help you determine if the price of the property you’re interested in is fair and competitive.

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Benefits and Incentives for London Small Businesses and Startups in 2021

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Recent events have illustrated the fragility of businesses in highly competitive markets. Small businesses and start-ups were thrown into disarray as potential clients, suppliers, customers, and employees were all heavily impacted by the new normal of the COVID-19 pandemic. Businesses across the world, both new and established, turned to support mechanisms to stay afloat. Business grants and incentives, often provided by the government or local councils, served as the difference between some businesses surviving and being forced to shutter their doors. These grants, often characterised by non-existent interest rates and obligations to pay back, are highly sought after in the London business scene, particularly in times of uncertainty.

Commonly regarded as one of the world’s best places to establish a business, London is home to countless such grants, loans, and incentives, ranging from small monetary rewards to life changing assistance packages that allow businesses to quickly establish themselves and acquire the tools or equipment necessary for continued success.

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10 Ways to Improve Office Morale

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Simon Sinek, a British-American motivational speaker, author, and podcaster, stated that “When people are financially invested, they want a return. When people are emotionally invested, they want to contribute.”

This single quote encapsulates why good office morale and workplace engagement is proven to lead to better business, more positive customer and client interactions, increased productivity, higher employee retention, and an overall healthier working environment. However, ensuring that employees are excited and motivated to come to work each day can be a tough task, one that businesses across the world still struggle to achieve to this day. Here are 10 ways to improve office morale and cultivate engaged and motivated staff.

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An Overview of Coworking Spaces in London

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London offers a wide variety of coworking spaces located in high spec buildings, complete with modern facilities, no initial capital commitments, and excellent flexibility with no exit costs.

Coworking spaces are highly appealing to businesses for a number of reasons, chief of which being the fact that they’re commonly plug ‘n play, no matter if you’re looking to rent a single desk or an entire floor. With coworking spaces there is no need to worry about buying furniture, committing time and effort to fit outs, and negotiating tedious lease agreements.

In addition to their plug ‘n play nature, coworking spaces in London provide:

  • Flexibility: In terms of the cost and length of contracts, which makes this type of space suitable for small businesses and helps them manage their finances better during the initial stages.
  • Range of Options: The growing popularity of this office space arrangement means that there is a wide range of options to choose from.
  • High Specifications: Modern facilities in high-spec office buildings, whether they are purpose built or refurbished.
  • Networking Opportunities: An open plan and communal atmosphere that promotes collaboration, networking, and can help establish new partnerships that could be crucial to the development of a business project.
  • Inexpensive Start up: No initial capital or financial commitment required, and no exit or disposal costs.
  • London Prestige: Provides an opportunity to enhance brand image due to London’s prestigious reputation as a global business hub.

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Overview of The London Commercial Property Market 2nd Quarter 2020

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Following the slowdown of the London’s commercial real estate market due to onset of the Covid-19 pandemic, activity levels have resumed during Q2, although cautiously. Transactions proceeded very slowly over the past three months, since fewer lenders are active and most tenants are on a wait-and-see mode. As a result, only a handful of transactions took place between April and June.

According to market analysts, it is still too early to quantify the true impact of the pandemic on commercial real estate, but the following observations ring true for the city: Continue reading “Overview of The London Commercial Property Market 2nd Quarter 2020” →

London Commercial Property Market 1st Quarter 2020

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London’s commercial property market entered 2020 with forecasted supply constraints and substantial rental growth. During the initial weeks of Q1, the market moved as anticipated.

Offices

Take-up levels were off to a slow start of the year, which translated into above-average availability. Average vacancy rates in Central London neared 4%, but they increased to 10% in East London. Office take-up in the West End and the Tech Belt remained stable. The business services sector was behind most transactions, accounting for approximately a third of all deals during Q1. Other key occupiers were banking, finance, technology, and creative.

The largest deal of the quarter involved offices in the EC2 postcode, although overall, the City of London remained the most sought-after destination. Outside of the City, Hammersmith and White City commanded the largest number of enquiries.

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Will the Pandemic Change the Rules of Office Space Size?

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One of the key considerations for office-based businesses is making sure that workspace is efficiently allocated. Over the years, we’ve reached some consensus over what’s the best square metre-to-employee ratio. But with the recent developments brought about by the Covid-19 pandemic, things may be just about to change.

In this post we’ll take a look at the current rules of thumb on office space size and whether this will be affected by the pandemic.

How Much Space Is Enough?

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How to survive working from home during the Coronavirus pandemic

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As Covid-19 cases increase across the UK and the country on lockdown, employees who are able work from home have been asked to do so in order to help slow the speed of the virus and protect the vulnerable.

If you have never worked remotely before this can be a very confusing time. Whether you are a newbie remote worker finding it a struggle to remain productive or a manager who has been tasked with ensuring employees remain engaged and focused, we have created a quick guide to help navigate working from home during the Coronavirus pandemic. As the situation is changing daily we will continue to update this guide as the situation develops further.

So how can you continue to work effectively during this difficult time?

Setting up a designated workspace

No matter where you live, whether in a large house or a shared flat, it’s essential to set up a designated workspace. Working from the sofa may sound ideal for some, but creating a workspace in some shape or form will mean you will be more creative. A desk in a separate room with natural light is ideal however your living space may not allow for that, so at least setting up your laptop on an uncluttered kitchen table or counter top may be the best option for you.

How to stay focused and engaged

Creating a structure for your day is essential when working remotely. Without a structure in place you might find it difficult to motivate yourself, or on the other side of the fence you may find yourself unable to stop working well into the evening. Stick to your normal office hours, tea and lunch breaks. It is important to keep the work/life balance even though you are at home 24 hours a day. Another tip, as simple as this may sound, is to get dressed in the morning. The simple act of getting up at the usual time, showered and dressed will make you more productive and ready to start working straight away. Continue reading “How to survive working from home during the Coronavirus pandemic” →

Everything You Need to Know about the North London Business Park

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North London Business Park is a 16-hectare campus-style office development located in New Southgate, nestled in attractive landscaped grounds with a pretty lake. The park is accessible via Oakleigh Road South or Brunswick Park Road.

Commercial real estate at North London Business Park totals 382,000 square feet and includes a superb portfolio of dedicated office and educational space. Serviced offices are available at the Comer Innovation Centre, and units range from 250 to 80,000 square feet, available on flexible terms, making the park the perfect choice for local businesses and start-ups.

Office space at the North London Business Park is spread over six buildings, although not all currently offer office space:

– Building 3 is a three-storey structure surrounded by 40 acres of parkland that offers Grade A office space as well as serviced offices. Traditional office units are available as whole-floor units or in smaller suites of up to 125,000 square feet.

– Building 4: over 170,000 square feet with on-site security, a cafe, and close to public transportation. The building has open plan office space (sub-divisions considered) and meeting / training space.

– Building 5: a two-storey building complete with auditorium and 140 parking spaces.

– Building 6: the smallest of all buildings at North London Business Park.

Reception is located in Building 2 and there is conferencing and events space available at the Emerald Suite, which is located on the side of the park facing Oakleigh Road. This venue has an approximate capacity of 590 people and has 7 meeting rooms. Continue reading “Everything You Need to Know about the North London Business Park” →

Wembley’s East Lane Business Park

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East Lane Business Park is a commercial real estate development located in Wembley, London. The site has been developed to a total size of 36 acres and consists of multi-purpose industrial, warehousing, and storage units. Nearby amenities include supermarkets, petrol stations (the nearest one being only a couple minutes drive away on East Lane), bakeries, and restaurants. Along Preston Road there are medical centres and pharmacies, but the largest commercial area within close proximity of the park is in Wembley Central, which is 1.5 miles to the south of this business park.

Space for rent at East Lane Business Park

Commercial space at the park is available on a variety of terms, from short lets to conventional long leases and including flexible rental agreements.

Several types of commercial real estate are available at East Lane Business Park. Warehouse units usually range size from 2,000 to 3,000 square feet, but larger units are also available. Average rental rates for warehouse space go just over #30,000 / year for a medium-size unit to more than #83,000 / year for warehouse units of 10,000 square feet. This type of space features amenities and facilities like are side doors, roller shutter access, dedicated loading bays, office space, bathrooms, parking space, and 24/7 security. Units are accessible around the clock. Continue reading “Wembley’s East Lane Business Park” →