Flats For Rent London

According to figures in the latest report from a leading global property advisor, around 14 million square feet of office space in London is now lying unoccupied. This figure is at its highest since March 2007 and shows an increase in vacancies of 36.5% in the last 12 months alone. The commercial property market is directly tied in to the behaviour of the banking system; with banks like HBOS and the Royal Bank of Scotland now being controlled by the government, the likelihood is that even more unused office space will appear on the market as the Treasury implements its plans to streamline the systems of these major financial institutions.
As the banks seem to be setting the template for other businesses, the immediate future for the London office market from a Landlord’s point of view still looks bleak: many corporations are making redundancies and are either down-sizing on their premises, moving out of the capital or, in some of the more extreme cases, declaring themselves insolvent and shutting up shop entirely. For landlords of office space in London, this spells further bad news, but for tenants looking for office space this is fantastic news. With more and more office space in London coming onto the market and less being taken up, empty and unused premises are simply going to cost Landlord’s money that, in the present financial climate, they can ill afford to lose. Selling their properties is an unlikely option and, if they do so, it is likely to be at a considerable loss.
For tenants looking to rent office space in London, the news is far better. What was once a market firmly controlled by the landlords, is now a tenant’s market, with fantastic opportunities available across the board. In an attempt to court tenants, landlords are trying to ensure that their premises remain unused for as short a time as possible. This means that there has been a sharp drop in rents. According to Commercial Property News, London’s rental rates have already taken a cut of around 23% and the figure looks set to increase as the recession bites hard into the banking system and beyond. Coupled with low rents, landlords are also offering substantial rent-free periods. In the West End alone, incentives have tripled in length over the last 12 months.
This current economic situation is offering tenants the opportunity to relocate to more favourable London office space at a fraction of the costs that they would have been facing 6-12 months ago. With the decline in the strength of the pound, London is becoming increasingly popular with international businesses, as it no longer retains the title of the World’s Most Expensive Capital, but continues to offer some of the best business links and services across the globe. While these corporations are looking to exploit the downturn and move into top-end London office space for reduced rates, it also leaves the door open for smaller, home-grown businesses to take advantage of the stagnancy of the small and mid-scale markets. Whilst the credit crunch is spelling disaster for many institutions, prospective tenants are seeing a landscape of financial opportunity.
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Shivani Gurtu-Louth
Devono Operations Manager
Tel(DDI): +44 (0)20 7096 9911
E-mail: sg@devono.com

According to Reuters, the amount of office space in London lying empty has risen by ten percent since the beginning of 2009, meaning that the number of London offices that are immediately available to rent has risen to in excess of 10 million square feet. There are many advantages for a business looking to lease office space in London and there has never been a better time to find a real bargain.
The reason for this surplus of available London office space can be traced back to the beginnings of the current economic downturn. As banks and other major financial institutions saw the potential results of surfeit lending, they began to downscale and streamline their workforces. As it became no longer viable to have such small numbers of staff in such large spaces, they looked elsewhere for office property or have taken out short-term leases in favour of long-term contracts. In response, landlords decided to reduce the cost of office rental in London in a bid to prevent their properties from standing empty. Many even offered substantial deals in a bid to court custom, such as extended rent-free periods and capital contributions. The Investment Property Forum’s European Consensus Forecast has predicted that rents will continue to be driven down further, by as much as 26.6%. They also predict that there will not be much room for recovery until around 2011, when the beginnings of a recovery are expected.
While this is certainly bleak news for landlords and freeholders, the good news for business-owners is that the market for London office space has turned in favour of the tenant. Grade A office space (the industry’s term for the best of the best) has already fallen as low as £45.00 .0 per square foot, the lowest since 2004. These figures, paint a picture where business-owners will be able to undertake office rental in London for unprecedented prices, allowing them to take advantage of all the benefits of a London office space.
The Royal Institute of Chartered Surveyors has recently raised another factor that could force the prices of renting London office space down even further. It is their belief that the growth for office rental in London could fall to ’sub-inflation’ levels by the end of 2009. The reason behind this is that, with so many offices threatening to become unoccupied, there is also an excess of supply over demand. Once again, this looks set to work in the favour of the tenant. Add this to the fact that there are over 12 million square feet of office space being built in the capital and the future for landlords looks pretty grim.
To take advantage of the low prices and the prime locations, prospective tenants would be well advised to hire the services of a commercial property acquisition agent. Using their knowledge of the property market, they will have the best informed knowledge of the locations that are going to offer the best value for money and their negotiating power gives tenants the opportunity to push falling prices down even further.
While the recession may be spelling bad news for certain pockets of the London office rental market, it is offering opportunities for business-owners that, ultimately can only help to improve the state of the economy at a later date.

Traditionally, property classifieds have appeared in local newspapers or in flyers that are meant to advertise estate agents. However, this is the old fashioned way to sell property and these days, you´ll find that you have far more success with online property classifieds.

You can even try to sell your property on your own, without the use of an estate agent. Advertising your house or flat online could be all you need to do to secure the sale at a fraction of the cost. This method would be a great idea if you are planning to move later in the year, you can post a classified ad and test the water. After getting a feel for the interest in your property you can make an educated decision on whether to bring in a estate agent or not.

The internet has made the entire world available to everyone. You can now list your property for sale in London and have someone in Columbia buy it! This opens up a world of possibilities for anyone looking to list property classifieds. Online is a better way to go because you expand your audience.

With property, it´s quite likely that you´ll have People interested from other countries. There are always those who dream of living in a foreign country, or perhaps a national who lives abroad and is thinking of coming home again. In either case, the internet allows you to reach these potential buyers through online property classifieds, drastically expanding your market and making it possible for you to get a higher price for your properties.

One of the big advantages of having your property advertised online is that you can often list for free, or a very low fee. Taking out an advertisement in the local paper will cost a pretty penny and if you want to take out a bigger ad with photos, etc. it will cost even more. Running a print property ad can be somewhat cost prohibitive, but going with online property classifieds allows you to have quite a few options, without having to pay a small fortune.

You will be able to list your property classifieds on more than one website, as well, ensuring complete exposure. Most people look online when they are interested in buying property these days, so you can easily make it work for you.

Tips and Tricks for Effective Property Classifieds

When you place a classified advert online, there are many advantages over print ads. For example, you have the search engines on your side. If someone is going to search on Google for property, they will probably have a specific area in mind. Using the words that they would search for in your ad will boost your chances of having people see the ad.

Not all services will allow the search engines to pick up the ad directly, but those that do will bring you some great traffic. Let´s say you have a property for sale in Cardiff, in this case you would want to include “Cardiff property” or something similar in your ad. This will help the search engines find your particular listing when someone searches for Cardiff properties and they will be taken to your property classified.

Using photos is a great way to boost your views. Most people interested in buying property are looking to see what it is like. Whether you have some land or a home for sale, your potential buyers will probably skip your property classifieds unless you include at least one photo. This gives people an idea of what the property looks like and will let them know almost instantly if they are interested in it.

Let people know in your advert if you are open to negotiation. This will open doors for you and make it possible to bring in more possible buyers who might be interested in negotiating. If they aren´t happy with your stated price, they´ll feel more comfortable giving a counteroffer if you mention it in the classified.

Using a good title will also draw people in. Don´t just say “Beautiful Property”. That doesn´t give them any reason to check it out. But using something more informative, like “4 Bdrm, 2 bath home in Cardiff” will catch their attention faster and bring in more viewers. One of whom might be your future buyer.

For anyone interested in selling their property, online property classifieds are an excellent way to go. You expand your market and make it possible to bring in clients from anywhere in the world. This makes it easier to get the price that you want, as well, since you´ll be able to pick and choose from potential buyers.