Rising London property costs could lead to some firms relocating
but according to property experts, it is unlikely that we will see
a mass exodus of people leaving the capital any time soon. Instead
some larger companies seem to be splitting their areas of operation
between their London based premises and their regional offices
which are cheaper to run and to staff.

One example of this is with HSBC who are looking to open a new
office in Birmingham rather than London later in the year in order
to keep the costs down and it seems that other major companies may
follow this lead.

The rising cost of London accommodation is a serious issue.
Estimates are that property prices are on average three times
higher in London than elsewhere in England and this applies to
commercial property as well as private accommodation for employees.
It all adds up to more business rent and a larger wages bill for
company owners.

That said there are often sound reasons for your business
staying in London. Some firms find that simply having a London
address is important and if you are working in industry across
London or all your clients are based in the Capital you obviously
need to stay in the area too.

However if your business is not tied to London, or if you are
starting a new enterprise there are many good reasons to move and
the West Midlands offers real advantages to businesses of all
types.

One of the best reasons is that there is such a wealth of good
quality affordable commercial property available. Whether you are
looking at industrial units, office space, office suites,
warehousing units or retail space you can find a great selection to
choose from. And all at what will seem like eye wateringly low
rents to anyone who has got used to London prices.

In addition the West Midlands is a great central location and as
near to the centre of England as it is possible to be. This
combined with great transport links including the M5 and M6
motorways and a major international airport makes it easy for
connectivity across the UK and internationally.

We can't see property costs causing London to become a business
vacuum. However the increase of business investment in regional
centres has got to be good news all round!

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