Rent Free Offices In London For Overseas Businesses

Boris Johnson, the Mayor of London, this week launched a campaign to entice foreign businesses to London by offering companies up to a year’s free rent.

Speaking at Mipim conference in Cannes, Mr Johnson talked of the plans known and a range of incentives, including up to 12 months of free office space and the use of a dedicated adviser to help overseas companies to establish an operation in the capital. Think London, an agency set up to attract foreign investment to the capital, will introduce potential clients to Avanta, a serviced office agency. The free rent, to the value of £150,000, is funded by Avanta, in the hope that clients will stay on after the offer period expires.

An estimated 13 per cent of offices in the City are vacant, pushing down rental rates while new jobs in the financial services industry, which has driven the capital's economic growth this decade, dropped 64 per cent in January.

Mr Johnson said: “My message to overseas businesses is loud and clear. You will not only receive the warmest of welcomes, but we will do all we can to ensure you get off to a flying start.”