Renting serviced office space is a cost-effective way of relocating to prestigious areas like Mayfair

There are more registered businesses in London than in all of Scotland, Wales and Northern Ireland combined, according to government statistics.

Where you choose to locate your business, and the type of office you move into, is vitally important. Being in London means you’re at the heart of the capital’s bustling and diverse business community. For 18 consecutive years it was voted the best city for business by senior executives of over 500 European businesses.

Mayfair is a prestigious area located near the West End of London. Many businesses based there benefit from the prestige of the area’s understated glamour and its highly practical transportation links.

You’ll probably remember from playing Monopoly as a child that Mayfair is the most valuable property on the board. In the game it costs £400 to buy, with rent rising up to £2000 if you build a hotel on the property. It’s the property that gets snapped up as soon as possible; the target for any Monopoly veterans.

Businesses are often faced with substantial set-up costs if they want to relocate to Mayfair. SMEs who want to move in order to maximise their potential for growth can be prevented by steep leasing costs or the need to commit to lengthy tenancies. However, there is a way to side-step this issue that means your business can move to Mayfair, which also happens to be a less stressful way of renting property.

Serviced office space in Mayfair allows businesses to relocate to an environment that allows them to focus solely on the business, rather than worrying about who they can find to install telephone lines or clean the office and wash the windows. Serviced office spaces are fully equipped and run by a facilities management team for you.

There are numerous other benefits to renting serviced offices; the significant savings generated by this type of property are particularly popular. Businesses can cut their costs because they don’t have to employ, and manage, people to clean or maintain equipment and carry out repairs. These savings begin the moment the business moves in.

Mayfair proved to be a particularly popular area to do business during the economic crisis; last there was an influx of boutique banks opening as investment bankers flooded to Mayfair to start their own enterprises that could weather the recession.

Perhaps the most valuable offering of serviced office space is that it remains flexible. You can expand or contract in response to your business needs, rent offices by the hour and they are instantly available.