Since its earliest development, London has been integral to Britain’s financial and economic advancement. In the first century AD, occupying Roman forces established London as both the nation’s capital and a fortified port city, noting its fortuitous placement for conducting trade with various ports across the European continent. Today London is a prominent influence on the world stage – emblematic of prosperity, cosmopolitanism and entrepreneurial success.
Districts such as The City, synonymous with corporate growth and opulence, draw in thousands of international corporations which in turn conduct business in the capital. Consequently, the distribution of serviced accommodation in London has spread across multiple city districts to meet increasing demand. Read on to discover which districts are trending in bookings for corporate serviced apartments in London, as well as the factors which have contributed to their surge in popularity.
1. Richmond
Richmond upon Thames is a borough often associated with verdant scenery and leisurely Thames-side strolls. This affluent area is home to more than one hundred parks and open spaces, including Richmond Park, Kew Gardens and the WWT London Wetland Centre. Despite its reputation as a sought-after suburban retreat, Richmond has seen an increase of 225% in SilverDoor corporate serviced apartment bookings in the last year alone – prompting the question, why has Richmond become so popular with business travellers?
Seemingly surreptitiously, Richmond has become a haven for tech experts. In recent years it was reported that Richmond had the highest concentration of tech workers of any London borough, thanks to investment in offices and headquarters by leading technology companies such as eBay, PayPal and The Securitas Group. The borough’s peaceful charm combined with its high quality of life rating no doubt makes it an appealing alternative to central London’s more densely populated urban areas.
Similarly, those visiting the capital on business may simply prefer a more relaxed base from which to fulfil their business itinerary. With beautifully appointed properties such as the Flying Butler Richmond Apartments in our portfolio, the attraction to Richmond is understandable.
2. Stratford
Located in London’s East End, Stratford is a district which, prior to its involvement in the 2012 Summer Olympics, underwent an economic decline in the latter part of the twentieth century. Following several successful regeneration projects, Stratford has become one of East London’s leading retail, cultural and leisure centres – home to the famous Queen Elizabeth Olympic Park, as well as a Cultural Quarter which includes a contemporary performing arts venue. The district is defying these stereotypes, however, and is absorbing many business bookings for London corporate serviced apartments - in the space of a year the number of bookings we have received in Stratford has increased by 192%.
The increasing numbers of professionals visiting Stratford is undoubtedly linked to the substantial regeneration projects recently implemented in the area – most notably the multiple developments brought about with the 2012 Olympic Games, and the subsequent International Quarter London project which continues to attract businesses to invest, and establish premises, in the district. As the IQL project nears completion, Stratford’s ranking as a significant business location improves – currently it is second only to Canary Wharf in the east of the city.
Modern corporate serviced apartments, such as those provided by Roomzzz London Stratford, offer a host of on-site amenities (such as a gym, café and 24-hour reception) which appeal to business travellers.
3. Bishopsgate
The London ward of Bishopsgate is a renowned business destination; being located in London’s main financial district and popular with business travellers, it has consistently attracted those seeking corporate serviced accommodation in London. Home to Liverpool Street station, which acts as a mainline link to much of the South East, Bishopsgate is bustling with commuting professionals to the city – making the area more attractive to businesses looking to establish premises within the financial district. With many national and international corporations vying for offices in the area (hence the increasing number of skyscrapers and new build developments), it is reasonable to correlate business sector growth in Bishopsgate with the 233% increase in bookings we have seen in the ward since 2018.
A shimmering symbol of economic growth, 22 Bishopsgate towers over the ward of Bishopsgate and boasts the capacity to house 12,000 workers upon completion. Demand is high for the building’s office spaces, which are described as being the most technically advanced in the capital. In addition to offices, the building will provide a fresh food market, well-being retreat and a free public viewing gallery. Promising to bring in many more businesses as well as thousands of employees to the area, the construction of 22 Bishopsgate has no doubt contributed to Bishopsgate’s recent popularity with business travellers.
As demand for London corporate serviced apartments grows, so too does the number of properties in our portfolio for Bishopsgate. 196 Bishopsgate Apartments are a prime example of the quality corporate accommodation the ward has to offer, providing beautiful interiors and additional features such as on-site parking (for an additional charge).
4. London Bridge
The London Bridge area encompasses a stretch of the southern bank between London Bridge and Tower Bridge. Formerly most famed for iconic London landmarks such as the HMS Belfast and Hay’s Galleria, London Bridge is today pinpointed on the capital city’s horizon by the monumental Shard building. Once considered a ‘gateway’ to the rest of London for commuters – with its train station providing direct links to the centre – London Bridge is steadily becoming a destination in its own right. Within the last year bookings of corporate serviced apartments in the area have increased by 125%, and this trend is set to continue.
In addition to the enhancement of the area’s business portfolio following the construction of The Shard, London Bridge train station has also benefited from a £1 billion upgrade. The expansion and advancement of London Bridge Station resulted in a passenger capacity increase of 66% and a new system capable of running 24 trains per hour. In conjunction with The Shard and the renovated train station, additional developments such as Shard Place residential building, The News Building and The Retail Arcade continue to bring new investors, clients and employees to the area.
For homely and beautifully furnished corporate accommodation when visiting London Bridge on business, look no further than London Bridge Hotel Apartments. Within walking distance of The Shard and boasting a regal and sophisticated finish, these apartments are suited to business travellers who appreciate space, light and home comforts of the highest standard.
5. Southwark
The borough of Southwark is expansive (and in fact envelops the aforementioned London Bridge area), with multiple areas and neighbourhoods endowing it with a true sense of diversity and cosmopolitanism. Home to many famous attractions, such as Borough Market, the Tate Modern and Shakespeare’s Globe Theatre, Southwark is, unsurprisingly, a popular tourist destination. Conversely, the borough also features many residential areas, with modern developments such as Shad Thames offering contemporary, youthful apartments, and the district of Peckham earning renewed popularity amongst young professionals. In addition to this residential and tourist focus, Southwark is receiving more business visitors than in previous years, with a year on year rise of 150% in corporate serviced apartment bookings.
Corporate growth in nearby London Bridge may be partially responsible for the boost in business interest in Southwark, but it is likely that the multiple development projects underway in Elephant & Castle are bringing corporate clients and contractors to the region. The regeneration projects being implemented in Elephant & Castle are set to transform the landscape of the area, providing new public spaces, residential developments and office buildings and units. With many of these developments spilling into Southwark, the borough is beginning to experience an increase in business travellers eager to take advantage of the excellent available corporate accommodation.
London Bridge Weston Apartments in Southwark are perfectly outfitted for such business stays. With immaculate, modern design, these spacious residences also boast weekly housekeeping and a welcome pack on arrival.
To view our entire portfolio of serviced accommodation in London, browse our extensive collection of corporate apartments here. You can discover more about what London has to offer by reading about its best event spaces and our accommodation recommendations for long business stays.
Sources:
https://www.standard.co.uk/business/stratford-is-the-new-business-hot-spot-in-london-a3649966.html
https://www.arcadis.com/en/united-kingdom/what-we-do/our-projects/uk/london-bridge/
https://www.the-shard.com/london-bridge/shard-quarter/
https://www.elephantandcastle.org.uk/elephant-and-castle-regeneration-map/
