Looking for some new office space for your business? If you are, chances are that London is among the places youre considering. Should that be the case, its worth investigating the advantages of different areas of the capital, such as Southwark, before making a final decision.
London = prestige
Before we look at Southwark in detail, it is worth just briefly considering the advantages of locating in London - assuming you do not have an office there already. Having an international reputation in the business world, the capital is a highly sought-after address among all kinds of companies, from real estate firms to communications giants.
Whether your business is large or small, this reputation is something you can capitalise on, should you invest in offices here. Of course, your location within the city carries a certain amount of weight, too - so we will weigh up the pros and cons of choosing Southwark.
A brief introduction to Southwark
A London borough, Southwark is situated south of the River Thames between London Bridge and Waterloo. Its most northerly section sits on the river, making up the esteemed Bankside area, which includes landmarks such as the OXO Tower and galleries like the Tate Modern.
Rotherhithe, Bermondsey, Camberwell, Borough and Dulwich are also all part of Southwark, which means there is a broad spectrum of offices and locations to choose from.
One of the most significant advantages of selecting offices in Southwark is the location. Indeed, while the borough may not be as famous as the City or Canary Wharf in terms of its high-end office space, it has much else to offer business owners:
• Southwark is in close proximity to Canary Wharf and the West End, with the Jubilee line allowing you - and your clients - to reach either in a matter of minutes.
• Waterloo is just one stop away on the Jubilee line and connects to national rail services, making Southwark an excellent base for businesses whose employees will need the flexibility to travel with speed and ease.
• Southwark offers a good balance between being close to key locations and providing cost-effective office space, giving it a particularly strong appeal to businesses keen to manage their money tightly.
Excellent location aside, Southwark has more to offer businesses considering moving to the area. In fact, in September 2012 Southwark Council announced the borough is to receive a substantial £800 million cash injection, which will go towards regenerating the area. This financial boost is expected to give the local economy a new lease of life.
So, what are the downsides of investing in office space in Southwark? Well, after careful consideration it certainly seems as if the positives outweigh the negatives, so what you perceive as cons will largely be based on what youre trying to achieve.
For example, while the location has much to offer, if you are hoping to secure a place in the capitals financial hub, you are likely to want to base yourself in the City of London or somewhere nearby north of the Thames - in which case, Southwarks south-of-the-river location may prove problematic.
Additionally, there are certain areas of Southwark that do need some attention; fortunately, the regeneration funds mentioned above should give this boost, but until these kick in it is worth carefully scouting out potential offices to make sure they offer everything you would expect.