According to estate agency Savills, office relocations in Greater London and the South East are primarily undertaken in a bid to retain staff and acquire a better standard of accommodation. The majority of business owners opt to remain in the same area, with the most popular relocation distance at just 0.5 miles.
However, the agency believes this may be set to change as property costs in the Greater London and South East region continue to rise. Several companies have relocated all or part of their operations to other areas to benefit from cheaper rents.
Jon Gardiner, head of South East office agency at Savills, said: “As our analysis shows, moves over a shorter distance have been most common over the past five years with occupiers in Greater London and the South East, who are much more likely to move within the same area than risk losing staff for the sake of reducing their overheads by moving to a more cost-effective location.
“However, we think that this is likely to change with businesses considering longer distance moves in the face of growing property costs. This is particularly relevant for those companies looking to relocate out of Central London, where property costs are significantly higher.”
In addition to cheaper rents, relocating to an office outside London, and looking for office space for rent on the South Coast can offer significant advantages - not least the space for easy parking and on-site amenities which all help to make work life easier and keep staff happy.
Langstone Technology Park – a case in point
At Langstone Technology Park, office tenants can take advantage of 1,500 free parking spaces, for example, while many London locations offer limited or no parking. Within easy reach of London, Langstone Technology Park is based on the South Coast, offering excellent transport links across the South East.
Just a stone’s throw from Havant town centre, the park offers beautiful walks as well as onsite and town-based amenities. Onsite amenities at Langstone Technology Park include a gym, a nursery, a Starbucks, a restaurant and an occupational health centre. With so much to offer, and with London rents increasing in price, more companies are expected to seek affordable office space in Havant and the surrounding area.
Flexible office space in Havant is extremely popular and can be hard to come by, but there is limited space still available at Langstone Technology Park. With a variety of offices, meeting rooms and warehouse space on site, businesses of all sizes can find a home at the park. Contact the Langstone Technology Park team to find out more about their high-quality office space for rent on the South Coast.