Pearl & Coutts Comment On London Office Space Shortage

Commercial property letting agents Pearl & Coutts respond to reports of a shortage of prime office space in London.
  • (1888PressRelease) October 20, 2010 - Leading London commercial property letting agents Pearl & Coutts gave their response to reports of a severe shortage of prime office space in London this year. Particular problems were reported for the City and West End locations, against a background of many firms announcing record Christmas sales figures last year. Pearl & Coutts support both international and UK businesses by supplying high quality office and retail space in various prime & secondary locations.

    The need for prime commercial property in London reflects many retailers announcing either strong or record trading in the run up to Christmas last year. Much of London's retail business sector certainly managed to perform exceptionally well, despite the frequently negative press coverage predicting a retail slump. Correspondingly, many international and national firms have needed to either establish or maintain their position in the capital. This can present a challenge due to the shortage of available premises to rent. Furthermore, many analysts are predicting that this year's Christmas sales could benefit from a 'consumer rush' to beat the introduction of a higher UK VAT rate in January 2011.

    "We have specialised in London's commercial property sector for over 15 years and were among the first to realise the potential of Noho. We are part of the Structadene Group, which is a property investment company and Pearl & Coutts act as in house letting agents for Structadene. So we are able to offer businesses a wide portfolio of properties suitable for many business needs".

    Technology is also helping the retail market adapt to busy Londoner's lifestyle needs. The introduction of better web and walk technology means time-pressured London executives can now buy online wherever they go. Some analysts predict this year's Christmas period sales online will be as high as 1.26 billion. There are also predictions of annual online sales worth 25 billion throughout the year. With strong indications the market has strong prospects for retailers with both high street and virtual stores, the demand for office space in London is likely to remain high. Ancillary suppliers, intermediaries and transportation companies are also going to need to be accommodated in the capital.

    "Our dedicated Commercial Lettings team offer a number of languages as well as English and we do have a long standing reputation for retaining our staff. We aim to make dealing with us exceptionally easy, whether that means knowing that you can have a relationship with the same staff member over time, or that you can speak to us in your first language."

    Any company needing to occupy prime retail or office space in London (including relocations from existing premises) should contact the Commercial Property Lettings team at Pearl & Coutts on 020 7843 3753 or visit the website at www.pearl-coutts.co.uk where you will find details of the numerous languages spoken by the team.

    Quote: Leigh Peters Marketing Manager, Pearl & Coutts

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