Many companies increasingly choose not to locate their office in the centre of expensive London business districts, but instead opt to be on the more cost-effective periphery of each area. This offers a significant saving in office rent, and thanks to the tube, an off-centre location is often only just a few minutes travel time to the centre – convenient enough for business meetings with clients or suppliers who are located more centrally.
Cross rail will slash London commuting times
Once Crossrail is fully operational in 2018/9, I expect this trend to be maginified dramatically. Crossrail will run from Reading and Heathrow in the west – travelling directly under the West End, the City and Docklands – to Shenfield and Abbey Wood in the east. Travelling from Ealing Broadway in West London to Tottenham Court in the centre will take a mere 12 minutes!
Overnight, seriously off-centre locations – think Ealing, Acton, Southall, Woolwich, Romford – that are currently not recognised as suitable office locations suddenly become plausible options – and at a much lower cost!
Huge potential savings for businesses
Potential savings in rent, business rates are a given. However, Crossrail will create other potential savings for forward thinking businesses. Most of these locations are largely residential and therefore have a huge potential staff pool. With commuting time and costs all but eliminated, potential employees may be happy to accept a lower salary.
Are you planning to take advantage?
Initial Crossrail services between Liverpool Street and Shenfield will be open in May this year, with further services to be rolled outo ver the next 4 years. Time to start planning, so you can take advantage of the big changes ahead…