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Soho has been a popular area of London for a long time, with its quirky streets, dark corners and the colourful characters who reside in its bars and shops.
Property in the area has historically been owned by private individuals, small companies and of course Soho Estate, but as the area has been regentrified, more traditional landlords are seeing its value, which is also being improved by the incoming Crossrail at Tottenham Court Road.
Office tenants who have typically housed themselves in Soho are production companies, film, and talent agencies; however, many other companies are now seeing the benefits of the trendy area, including venture capitalists and hedge funds.
Managing Director of Morgan Pryce, Eugene O’Sullivan, says; “The area is cleaning itself up but it still has the underbelly vibe which made it famous and also provides a very different type of office to its neighbouring area, Mayfair.”
Rents in Soho start at around £60 per sq ft, with top end offices achieving £90 per sq ft. These higher rates are unfortunately pushing some of the more traditional occupiers out to Midtown, or even parts of East London.
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.