Kings cross for the past 20 years or so has never had the best reputation, tarnished by the popularity of prostitutes and drug users. However, last week Google submitted their initial plans for their 1 million square foot scheme on the 67-acre Argent led redevelopment scheme, which will provide 725,000 square feet of office space. Google have selected this site for a number of reasons; mainly due to the ‘blank canvas to work with’ it offers and the fantastic transport links around London, England and through to Europe as well.

Increasingly, it has been seen that companies are choosing to locate south of the river, acquiring new office space in SE1. A large factor as to why offices in Southbank have become so appealing is rent: so many of Central London’s key areas, such as the West End, achieve comparatively high rents – it is not unusual to see offices in Soho reaching £57 per square foot, and even £92 per square foot in St James’s. As a result many businesses have felt priced out of more popular and traditional areas, and have instead decided to move south.

Investment in London’s property market from overseas continues to flow in, a recent report shows. Partly responsible is the fact that sterling has been trading at one of its lowest rates for several years, thus offering favourable terms to buyers and investors from outside the UK. 

London Victoria, in the London Borough of Westminster, is the next area upon which Land Securities Plc has its eye. The company hopes to convert a tower currently used as offices in the area into an apartment building. In contrast with the rest of the UK, residential prices in the capital rose more than 10% in the past year – with a huge increase in Westminster of almost 39%. A recent study puts the average home in the borough as £1.9m. 

King’s Cross, over the past 20 years or so, has never had the best reputation, tarnished by the image of the seedier side of London life. However, last week Google submitted its initial plans for its 1m square foot scheme on the 67-acre Argent-led redevelopment site, which will provide 725,000 square feet of office space. Google has selected this site for a number of reasons, mainly due to its being a “blank canvas to work with” in addition to the fantastic transport links around London, England and through to Europe as well.

Office space in central London has seen take up increase largely in the second quarter of this year due to companies eagerness to grab office space before the expected shortage of supply kicks in.  

Recent research by BNP Paribas Real Estate has shown positive trends in relation to take-up of office space in London.  The increase in levels of activity noted were significant, amounting to 24% higher take-up in the first half of 2013 in comparison with the first half of 2012. 

Rental growth in any of the property sectors is driven by the relationship between demand and supply of which student accommodation is no exception. The main characteristic of property is that in the short term it is relatively fixed in supply whereas other economic variables such as, in this case, a hike in student fees could result in a sudden drop in demand and in consequence negative rental growth.

The Isle of Dogs is the latest in locations to jump on the bandwagon of converting office blocks to residential accommodation, providing an increase in value to landlord. The Isle of Dogs is to see a new wave of residential towers to come available in the next 5 years, totalling a value of up to £750m. 

A recent report has confirmed, what many operating in London’s property market have known for some time: that Mayfair square footage continues to be some of the most expensive in the world: where £1m may only get you a studio apartment.