Located in central Westminster and named after Victoria Station, Victoria is one of London’s most renowned districts, and ever popular amongst businesses seeking to locate in the capital.
Sitting in the shadow of Buckingham Palace, and peppered with some of London’s finest places to drink, dine, sleep and shop, Victoria is a relatively compact area. But that hasn’t made it any less attractive to the likes of Google UK and The Telegraph who are headquartered here.
For the business looking to neighbour these big names, there is plenty on offer in terms of commercial property. Victoria is well located, and offers a good variety of property types. But the question is, how to structure your search?
To help you, we’ve put together a guide to take you through the key steps to finding your ultimate commercial property in Victoria.
Step 1: Decide on your preferred property type
There is a diverse offering of commercial property Victoria wide. It’s a place where modern buildings sit
alongside traditional period properties. From serviced office space and self-contained options, to modern open plan workspaces, you’ll find ample choice, and plenty of cutting edge and sustainable features that are important to today’s workforce.
For those businesses seeking a hassle free route to workspace, a serviced office makes a good choice.
One of the most attractive features of the serviced office is that everything comes as a package. With all costs rolled in, including utilities, cleaning and other services, it is easier to budget and manage
cashflow.
Serviced offices are often available on a flexible lease basis too. This can prove advantageous, especially for the younger or start-up business.
Self-contained office space on the other hand tends to be suited to the more established business. There is more control over utility and business service choices, allowing companies to strike the best deal and keep costs as low as possible.
Step 2: Decide on your must-have features
When searching for commercial property in Victoria, it is important to prioritise your must-have features early on. Consider what you will definitely need, versus nice-to-haves, as your budget will ultimately dictate which you will be able to settle on.
Examples of features to consider include:
- Natural light
- Bicycle storage
- Shower facilities
- Concierge / commissionaire services
- Meeting rooms
- Dedicated reception
- Customer lounge
- Administrative services
- Car parking
- 24 hour access
- Daily cleaning
- Video conferencing facilities
- WiFi and telephone system
- LED lighting
- Good EPC rating
- Kitchen facilities
- Air conditioning
- Passenger lifts
- Outdoor space
Step 3: Think about transport
If your workforce relies on public transport, then you will need to be clear on how well located your chosen commercial property in Victoria is to the various types of transport available in the area.
Consider where your employees or clientele will be travelling from.
Victoria mainline station offers services to and from Canterbury, Brighton, Guildford and Epsom, as well as many south coast locations including Eastbourne. The Gatwick Express runs services to the airport within 30 minutes.
Victoria Station also provides access to the London Underground Victoria, District and Circle lines. You may find some commercial property in Victoria is situated closer to other London Underground stations, such as Green Park, Piccadilly, Knightsbridge, St James’s Park, Westminster or Sloane Square,
all of which are equally accessible.
Victoria Coach Station is served by numerous coach operators, providing access to cities including Glasgow and Edinburgh, Newcastle Upon Tyne, Liverpool, Cardiff, Bristol and Bath, Salisbury and Penzance, Gloucester, Coventry and Canterbury and many more. It is also possible to get to Paris within seven or eight hours by coach from London Victoria, useful if you do business across the
border.
Step 4: Decide whether to rent or buy
Perhaps one of the most important considerations is whether to rent or buy your commercial property. Victoria presents a choice of both options.
Essential things to think about when weighing up the pros and cons of buying versus renting include:
- Initial costs – purchasing a property tends to incur more initial outlay than renting
- Flexibility – changing rental properties is more straightforward than having to sell and move from a purchased property
- Maintenance responsibilities – landlords will usually take care of rental property maintenance, whereas as a property owner, upkeep costs will fall to you
- Investment potential – buying a property may open up opportunities for future capital gains, which could be used to fuel business growth
It is vital to take time to calculate the financial implications of each option. It is also wise to take professional advice on things like investment potential if that is important to you.
Step 5: Decide on the size of property required
Office space needs are evolving. Hybrid working is becoming increasingly popular, impacting on the need for physical workspace. Taking time to calculate precisely what you’ll require is important, otherwise you may end up paying for more square meterage than you may need.
Think about the size of your team and how many days per week they actually spend in the office. Then factor in growth projections, as well as the need for meeting spaces or collaborative zones.
It’s also useful to look at how you can maximise space. Flexible furniture arrangements are one option, and it’s also worth looking at shared amenities if you are keen to offer facilities to your staff, but want to keep a keen eye on space costs.
Options for finding a commercial property in Victoria
Once you’ve made all your considerations and choices, it’s time to start your search for commercial property in Victoria.
Whilst there is always the online property search route and the option of word of mouth referrals, the benefits of using a trusted local commercial real estate agent with specific area knowledge are manifold.
An agent will provide you with access to off-market listings, negotiation expertise, investment guidance and insights into local market trends.
Commercial properties in and around Victoria, London
A snapshot of the commercial properties available in Victoria…
Nova North SW1E – a fully fitted, entire floor to let inside a stunning, modern building
l1 Hobart Place SW1W – a long leasehold Grade II listed building for sale
10-11 Grosvenor Place SW1X – fully fitted offices for let
16 Old Queen Street - 29 fully furnished serviced offices with meeting rooms, customer lounge and video conferencing facilities
Mellersh & Harding – Victoria Commercial Property Specialists
Seeking commercial property to rent or buy in Victoria? At Mellersh & Harding we have an extensive portfolio of commercial property Victoria wide. Why not get in touch to discuss your individual requirements? You can reach our dedicated team on 020 7522 8500.
Back