4 Top Reasons to Rent Offices in London’s Bank Area Over Purchasing

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Bank might already have a long-standing reputation as a top financial and business district in London, but companies from other industries will also find that this is a great area to base their business. This district can be located in the City of London, and it boasts superb transport links. From Bank Station, you can hop on the Northern Line, Central Line, and Waterloo & City Line. Moreover, Bank and Monument are interlinked stations, and together they have become the third busiest interchange in the London Underground.

In addition to the impressive public transport hub, Bank plays host to a plethora of historic buildings, iconic landmarks, local stores, and a thriving food and drink scene. There is no wonder why many business owners have chosen to base their company in Bank. Here are 4 top reasons to rent offices in London’s Bank area and why many choose to rent rather than buy.

Other Successful Companies Call Bank Their Home

London’s Bank area is already home to corporate giants, such as Lloyd’s of London and the London Stock Exchange. Not to mention, the UK’s central bank, the Bank of England, is headquartered at this prestigious district. Choosing to rent your business here means that you will be in close proximity to companies that have had tremendous success. Not only is it motivating to be surrounded by successful companies, but you will also attract and retain talented recruits with the right skill set too. This location will help companies get the traffic they need, especially during the early stages for relatively new businesses.

Accessibility to Prime Commercial Space

A common reason why business owners choose to rent rather than purchase offices in Bank is that it gives them more accessibility to prime commercial spaces. Bank is a high-profile location with an excellent reputation for finance and business. Therefore, you will find plenty of commercial landlords looking to lease their office space rather than sell it. The Workplace Company are an office agency that can help you find the ideal office space to rent. They know the local area well and can help you find the right solution to suit your needs.

Try Before You Buy

It can be a struggle to pinpoint the ideal office space for your business. If you can’t find the ‘perfect’ home, why settle? Leasing an office space allows you to try out the area before making a huge commitment. It also gives you a chance to test out offices with different types of facilities, which will help you determine what you need in a permanent workspace.

Avoid Initial Capital Costs

It is generally less expensive to rent an office than to buy one outright in this area, which makes it a smart business move for some companies. Due to up-front capital costs, you need to shell out a lot before you can even move in. From office equipment and furniture to branding and overheads, buying an office outright in Bank is a costly affair. Not to mention, you will be responsible for the upkeep and maintenance if you purchase office space.

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