Expert Office Advice

Stats and information for businesses considering relocation to or setting up an office in Central London.

The term Central London refers to the districts of London which are considered closest to the centre. London’s metropolitan area is divided into 33 political units – 32 boroughs and the City of London. The core of this urban area is known as Central London. It contains about 12 of the 33 political units including the City of London, the City of Westminster and districts in the West End.

The City of London often referred to as just the “City” or as the “Square Mile” is the world’s leading international financial and business centre alongside New York City. The City of Westminster is the seat of the national government and contains most of London’s West End. The West End is the entertainment and retail hub of London.

Population
2,985,700 – Mid-2005 Population Estimate for Inner London
Source: Office for National Statistics (ONS)

Migration, immigration, ethnic diversity, basic population demographics
• 65.7% of the population is white.
• 66.3% are born in the UK, 26.8% are born outside the EU and 6.9% elsewhere in the UK.
• 54.6% are Christians, 11.7% are Muslims and 18.3% have no religion.
Source: ONS Census 2001

Unemployment/employment rate
• Employment rate is 63.7%.
• Unemployment rate is 8.8%.
Source: ONS Annual Population Survey Inner London (July 2005 – June 2006)

Average Income/salary
₤617.20 – gross weekly pay
Source: ONS Annual Survey of Hours and Earnings Workplace Analysis Inner London (2006)

Location within the UK and closest major location
Most of Central London is located north of the Thames, on a gentle slope that rises to the north.

Transport options to and within
• The easiest way of getting around Central London is by the “underground” also called the “tube” – the most comprehensive underground system in the world.
• Central London also has an extensive bus network.
• Its rail network is well-connected to the “tube”.
• Taxis or the distinctive black cabs are plentiful in Central London.
• International flights are routed through London Heathrow and London Gatwick Airports.

Closest airports with average distance from town/city centre
• London Heathrow Airport – 15 miles west of the city
• London Gatwick Airport – 28 miles south of the city centre
• London Stansted Airport – 24.9 miles

Dominating sectors/industries
Central London is UK’s primary business centre. The financial and business services sector account for 80% of Central London’s businesses. The City of London is at the forefront of finance and related business services which include law, accountancy, regulation, business education. Central London has also one of the highest concentrations of creative and media companies in Europe. It is also the focal point for London’s tourist, leisure and entertainment industries. Central London attracts tens of millions of tourists annually. The West End is regarded as London’s shopping and entertainment enclave.

Large companies that have headquarters or major branches in the location
• Deutsche Bank, HSBC Holdings, JP Morgan, Goldman Sachs
• KPMG (accountancy), Linklaters (legal services)
• AstraZeneca PLC, GlaxoSmith Kline, BT Group

Areas that are considered to be prime business locations
• City of London
• Oxford Street, Piccadilly, Knightsbridge
• Leicester Square, Coventry Street

Major or annual business-related events
The Tour de France will be held in London and Kent on July 6 – 8. The opening ceremony at Trafalgar Square will be a spectacular celebration of Tour de France arrivals in London.

Awards
• London was voted “Europe’s Most Internationally Accessible City” in 2004.
• London was chosen “Best European City for Telecommunications Links” in 2004.

Restrictions
• Congestion Charge is levied on traffic entering Central London during peak hours to alleviate traffic gridlock.
• From 1 July 2007, a new legislation was imposed making all enclosed public places and workplaces in England smoke-free including bars, clubs, restaurants, offices and cafes.

Special business benefits/dispensations
• London Business Growth Fund is set up to help entrepreneurs with sound business proposals gain access to bank finance in order to start or expand their businesses.
• The Baring English Growth Fund helps finance small to medium sized well-managed companies with growth potential.

3 best things about the location
• Central London has an extensive business and professional services network.
• It has a stable economy and a tradition of tolerance and diversity which is great for business.
• It has the best access to both domestic and international markets.

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