Leading South London property agents Henshall & Partners have a reported a steep increase in demand for ‘fringe neighbourhood’ commercial space in London. Henshall & Partners reveal that the demand, which has increased by 60% in the past six months, is due to more people remote working which has in turn increased daily occupancy in London neighbourhoods.

Cafes, restaurants, and supermarkets have favoured expansion out of central London into areas such as Tottenham and Lewisham by way of example. Henshall & Partners report that several food and beverage businesses have acted quickly, foreseeing the impact of the pandemic, and saw the opportunity of more home workers visiting local shops.

In recent months, Henshall & Partners have secured several deals in typically less viable areas of London. These deals include a German Donor Kebab franchise on Eltham High Street, which let for 40% more than the previous tenancy, a Turkish grill and lounge bar on Lewisham Road which let for £40K a year, an organic café in Greenwich which let for £30K a year and a unit on White Hart Lane in Tottenham which was sold for £700,000 and is set to open as a supermarket.

The recent string of deals in fringe London locations highlights that the flexible working shift is facilitating a return to neighbourhood shops and restaurants. Not only does the move increase turnover for businesses, as people working from home choose to eat locally or order deliveries but rent in places like Greenwich and Lewisham is markedly cheaper than in the West End or the City.

Henshall & Partners see this shift as a positive for local neighbourhood business with flexible working as the emerging way forward for London business. However, the City and West End have overcome the worst as we see workers begin to make their way back to the office and balance their time more evenly between the two.

Chris Henshall, Founder and Managing Director of Henshall & Partners commented: “In recent months we have seen an increased demand for commercial property in London’s fringe neighbourhoods, most notably from the food and beverage industry. This uptick in commercial demand highlights flexible working being implemented across the capital. I am however keen to see a more balanced approach from employers as restrictions are eased with time in the office essential for productive business and its importance to younger employees to learn and prosper’.

Henshall & Partners was founded in 2017 by Chris Henshall, who has over ten years of experience in the commercial property industry. Henshall & Partners offer services focused on land, development and investment properties across London and the Southeast. The company retains a loyal client base due to their extensive knowledge on emerging areas and evolving plans implemented by local government alongside forward-thinking marketing strategies.