Hammerson Buys 999 Year Lease

16Sep11

Hammerson has paid for a record-breaking 999-year lease on an office
building in London.  The extraordinary lease for the commercial property
known as 99 Bishopsgate cost the company no less than £100 million
(which translates to around 160.7 million US dollars).  They also intend
to perform some refurbishment on the office space contained within in
order to capitalise on the current shortage of such space that is
afflicting businesses in the London area.  The commercial property was
reconstructed 17 years ago in 1994 and Hammerson has purchased the
lease, which does not expire until the year 2100, from PRUPIM, who were
acting on behalf of Prudential Assurance Company. 

 

Hammerson says that 99 Bishopsgate is currently occupied by Charles
River Associates International, Korea Development Bank, Latham &
Watkins, and primarily by Deutsche Bank (DBKGn.DE), while also noting
that “Deutsche Bank is expected to vacate the majority of its space
later this year”. 

 

Around 13,500 square metres of the available office space in Canary Wharf
within this building will be refurbished by the Anglo-French property
investment company, to be finished for 2012 “during a period of expected
undersupply”.  “We have an exciting business plan for the property,”
says Hammerson’s chief executive officer, David Atkins. 

 

The number of major office developments in the London area has gone
up by more than 50 per cent in the first half of this year, with Land
Securities and Great Portland Estates being among those involved in the
projects.

 

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Big Brother Company Arrives in Manchester

14Sep11

The television production company behind the
internationally successful reality television series “Big Brother” is
moving to Manchester. Remarkable Television, which is actually a
subsidiary company of international television production company
Endemol, which made what was arguably the first reality TV phenomenon,
is opening an office in the city of Manchester for the very first time.

The London serviced offices leased by the television production company is based in
Invicta House, in the centre of the popular Manchester business district
of Spinningfields. The move to regional locations for television
production companies follows on from similar moves being made by the
BBC, which has relocated its central offices from London to MediaCity in
the heart of Salford.

Spinningfield has reinvented the core
commercial district of the city of Manchester and is one of the largest
financial and professional services destinations not just in the United
Kingdom but throughout all of Europe, providing both retail and office
space, in addition to space for other commercial, civic, hotel, leisure
and even residential areas. The business district of Spinningfield
alone covers six acres of land, with over 2.37 million square foot of
offices in Soho playing host to more than twenty five thousand office
workers.

“The BBC is committed to regional production and where
possible often looks for opportunities to make programmes around the
UK,” a spokesperson for Endemol announced. “Manchester has exceptional
production facilities and a pool of talented media professionals, so the
production team at Remarkable Television, an Endemol company, decided
to make series four of “Snog, Marry, Avoid?” there.”

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New Home for London Office Space Articles

11Feb09

As from today all future London Office Space Articles can be found at a new home. Reflex Office Space solutions the unique office space providers in Central London have kindly agreed to absorb the articles.

Over the next few weeks this domain will be redirected to its new location and all past articles will be accessible from there. Thanks everyone and see you on the other side!

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Restrictive Leases Spell Doom for Today’s Businesses?

12Jan09

With the credit crunch affecting all aspects of business, it’s important for companies to realize the areas where increased supply and falling demand can benefit them in terms of commitments in the short term.  Using serviced office providers as an example, an office building occupier that utilizes serviced over traditional office buildings has just unencumbered themselves of a restrictive lease (which for the most part are priced at pre-credit crunch levels) that never takes into account the currently falling prices of property throughout the multi-year term.

With traditional office leases, the owner/landlord may begin to offer more free rent periods in the hopes of ensnaring businesses that see this as a counterbalance for the higher-priced, restrictive leasing terms.  Unfortunately for them, in a year when the office market could very well reach record lows, they will be stuck in the same economically undesirable leasing agreement while their competition that have opted for trying out a short-term office solution like serviced/managed offices will be able to enjoy forging new rental agreements that exploit the adjusted market prices.  Imagine that the company with the traditional office is in the same market, and same area of business as the serviced office—it’s not hard to extrapolate the result of one company having a huge financial and flexibility benefit over their rival.

While not every business will benefit from short-term office solutions, it certainly remains the least expensive, lowest-risk alternative option for testing out new business locations, avoiding restrictive leases, and freeing-up revenue for the rough economic ride that many companies are in for as the full-effects of the possible recession come to fruition in the years to come.

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Real Character With Your Office Space

22Dec08

There are lots of places around Soho and London to have your office space, but most of them look just like any old place would. One of the most challenging aspects of finding great offices in Soho or managed offices in London is that you find buildings that are unique a different.

Unique Victorian style buildings make fantastic offices for several reasons. First of all, your office should say a lot about you and about your business. You truly want to be sure that when someone walks into your office building, they feel like they are walking into a place that is professional, neat, and vastly different. Let’s face it, there are loads  of office buildings all over the area, and there are also loads of businesses. One of the most important things that you can do for yourself and for your business is to make sure that you stand out from the crowd. Having your office in a unique Victorian style building can do that. Not only will your customers and clients be able to remember the name of your business, but they’ll have the actual office building stuck in their minds. You can stand out from the crowd in this way, and so can your company.

It isn’t hard to find managed offices in Soho or managed offices in London. However, it is hard to find buildings that aren’t just like everyone else. Whether your business is hip and artsy, or whether it is professional and refined, the Victorian style buildings will add to the general appearance of your business, and help you to gain customers.

Customers and clients want to visit a business or office that is clean, beautiful, and unique. Don’t simply settle for the same old office space that everyone else is offering. Whether you want serviced office North London complexes, or whether you want office space London Central complexes, choose a company that will offer you the same great selection ,the same flexible offices in London, and the same deals – but with the added charm of the beauty  and excitement of Victorian style buildings. Your office says much about you – and these exquisite buildings will help you say even more. The buildings aren’t marked in any way ,which means that you can truly use them to make a mark on your particular industry with the offices that you’ll have there.

There is much competition in the world today, so be sure that you are providing yourself with the best offices possible. Don’t settle for offices that are the same as everyone else. You want what’s modern, what’s up to date ,but also an office that will help you explain to everyone just what you are about. You’ll be surprised to see how well you’ll be received if your office is in a unique and Victorian style building in Soho or London. Remember, what is on the outside might not reflect what is in the inside – but why not have the outside make you look very good as well?

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