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When a company is looking for new offices in London, offices to lease in Canary Wharf and the rest of Docklands are often overlooked in favour of the City and the West End. For many the location may not be suitable but for a growing band of smaller companies, it is proving hard to resist the low rents and rates available when considered in the context of the excellent transport links that now serve the area.
“Whilst offices in Canary Wharf and the surrounding area have often been seen as the sole preserve of large financial institutions, there is a growing band of businessmen and women who see the area as an ideal base due to the proximity of London City airport and the new Eurostar terminal at Stratford International” says Sean Dooley, Director at Morgan Pryce. “We recently relocated a company from the West End to Marsh Wall solely because the Managing Director lives in the South of France and couldn’t ignore the ease of commute from Nice to London City.”
Offices in Docklands and Canary Wharf are served by both the Jubilee line and the Docklands Light Railway which now extends all the way from Bank, in the heart of the City, to City Airport itself. It is quicker to get from the Square Mile to London City airport than to either Heathrow or Gatwick, and the overall experience of flying from a smaller airport is preferred by many business travellers.
“It is definitely true that rents and rates, especially in the non-tower areas of Docklands, such as Marsh Wall, offer fantastic value for money” confirms Dooley. “If you are not wedded to an area and simply need well connected and affordable accommodation, offices in Docklands are definitely a way to go.”
Morgan Pryce is a specialist tenant acquisition agent with offices in the City and offices in Oxford Circus. Operating from No.1 the Poultry, the Morgan Pryce City team runs a desk dedicated to locating and securing office space in Canary Wharf and the Docklands.