W12 – Commercial Property Prices Continue to Rise in London

Savvy businesses are now hiring meeting rooms to avoid rising commercial property prices

06 May, 2015 – United Kingdom – Property prices in the UK have always been expensive with London leading the way for both residential and commercial property. A recent study by Paul Statham, CEO of Condeco, found that the UK is one of the most expensive places to own commercial property. To put this into context, companies spent $700bn on real estate last year and given the economy is improving, this figure is likely to rise above pre-recession levels of $1tn dollars within the next five years.

“With the economy starting to emerge out of recession, the cost of commercial real estate is forecast to continue to spiral and businesses will still haemorrhage money unless they have access to the facts about how efficient their office space usage actually is,” said Mr Statham. He went on to say “the most worrying aspect of this is that businesses are not aware of the extent to which their office space is under-used or their meeting rooms left empty, and it is large corporates, who own vast amounts of real estate across many cities and countries that experience this pain more than anyone else.”

Tony Steadman from W12 Conferences, a conference and meeting room supplier said “savvy businesses are realising that they don’t need to have their own meeting rooms and are instead hiring them on an ad hoc basis.”Mr Statham predicts that the cost of office space in London is set to rise saying “a major trend for fast-growth multi-national companies right now is the leveraging of USPs within their workplace, such as collaborative spaces, in order to attract and retain the world’s best talent. A flexible workspace, geared to the daily demands of evolving business will not only work towards supporting better employee engagement and satisfaction, but also seriously enhancing productivity,” he adds. Mr Steadman went on to say that “many companies rarely use their meeting rooms and they are left empty most of the day. Buy getting rid of their meeting rooms and instead hiring one when they need it, they are better utilising resources and saving money.”

W12 Conferences provides meeting rooms for hire in London at affordable rates.

For more information visit http://www.w12conferences.co.uk

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Company Name: W12 Conferences
Contact Person: Tony Steedman
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Phone: 02033131609
Address:W12 Conferences, Artillery Lane, 150 Du Cane Road
City: London
Country: United Kingdom
Website: http://www.w12conferences.co.uk