There is no doubt that London on south side of the Thames used to be a bit drab and run down. Not so now!
Over the past few years, there has been extensive development and infrastructure investment in this patch, running along the South Bank from Waterloo Bridge to Tower Bridge, with the eye-catching Shard and the London Eye symbolising the area’s regeneration. This regeneration is expected to continue with ambitious plans in place for the next decade.
Communications are excellent and Waterloo and Southwark is fast becoming a very popular office location. There is a reasonable amount of choice. Most office space consists of large, open floors in new or redeveloped buildings. Exactly the sort of space most London-based businesses demand these days.
Culture, Lifestyle and Food!
Located your office and get the benefit of the multitude of cultural and lifestyle attractions along the South Bank, not least the immensely popular and wonderful Borough Market – selling a wide range of affordable British and international food, with a great atmosphere.
How much does office space on the South Bank cost?
Many companies have moved to this location on cost grounds and – if you have a look our London office rental guide – at a little over £40 per ft2 per annum exclusive for good space, Waterloo and Southwark compares favourably with many other established locations. (though, or course some of the top of the range, new buildings are more expensive). Given that the locational work environment is not dissimilar to Covent Garden, it is worth noting that the cost of offices in Covent Garden 50% higher than the equivalent in Waterloo & Southwark!
What type of businesses have moved the South Bank?
The legal profession has taken great interest in the area: Howard Kennedy FSI and Boodle Hatfield are moving to to the South Bank after spending many years in the West End Architects have also taken to the South Bank . Last year, Find a London Office acquired a brand new office floor of about 2500 sq ft for Tim Flynn Architects (previously located in Mayfair) in the new development at 1 Valentine Place.
With economic growth continuing to gather strength, occupier demand is rising throughout London, and as a rising star, the South Bank will continue to get more than it’s fair share.