Businesses advised to seek "scarcer resources" in London

Date: 26/08/2011

A growing number of companies may wish to purchase local 020 numbers and set up offices in London.

This is because, according to head of investment management at London Central Portfolio Hugh Best, the city is a leader in the property investment market.

In particular, the expert urged enterprises to target regions considered to be a "scarce resource".

These include locations such as Mayfair and Knightsbridge because "you can't put a 40-storey skyscraper up in the middle of the town" due to the listed nature of the area.

"So we always say target the scarcer source, it is harder to find the property but the rewards are higher," Mr Best continued.

He noted there are more development opportunities in other parts of the capital, such as around the Olympic village.

This comes after director of commercial research at Savills Mat Oakley said there are an "endless" number of retailers looking to establish themselves on London's prime shopping streets.