Regarded by many as the most ideal location for office space on the globe, the West End area of Soho, London represents the most prestigious and highly sought-after location for corporate offices in the world. This trend continues even in the face of the downward spiral of the world's economy, specifically with respect to the credit industries, a fact that flies in the face of the number of private equity and hedge fund companies that continue to rent in the West End office space areas at current present.
Whereas the rest of London has started to see a decline in rental rates and a general increase in vacancies for serviced, managed, and conventional offices, the West End enjoys a maintained rate of rental throughout Q1 and Q2 2008. For the corporation seeking to be situated in the most profitable area of the world, the West End is practically the only choice one can make as of today in consideration to the world's slumping economy. Indeed with the average cost per sq ft for office space still at pre-recession premiums, the best option to go for many corporations seeking to bounce back in this troubling economic climate is to seek out a serviced office space in West End--the most affordable solution so that even a new start up company can rub elbows with highly-successful businesspersons in the West End (and perhaps glean away some of their success!)
A recent news report by CBRE is that Q3 2008 may mark the beginnings of West End's decrease in rental values. An overall 3.2% fall in rental values may represent the first chink in the armor of the prestigious area's office market. While the decrease brings West End closer to the rest of Central London's rates, the area remains an unrivaled location for businesses seeking to be located in the most successful economic segment of the world.
