Mayor urges companies to move to London

Thursday, March 12, 2009

Boris Johnson encourages companies to London

Boris Johnson, the mayor of London, has urged foreign businesses to undertake a commercial relocation to the city.

He was speaking yesterday at the Marche International des Professionnels d'Immobilier property conference in Cannes.

The comments were made as the Touchdown London scheme, operated by Think London, was extended to offer overseas companies rent-free office space for up to a year as well as an adviser to help with the transition to the city.

Mr Johnson said: "London offers magnificent opportunities for overseas business with unrivalled access to western markets, a skilled workforce and one of the most diverse social and leisure scenes in the world."

However, the Times reported that 13 per cent of offices are vacant in the city which has led to a decrease in rental rates.

The Economist Intelligence Unit released figures last week to show that the cost of living in London had fallen below that of New York for the first time since 2002.

Source: ask-re The Property People LLP