Boris backs property deal for start-ups

A new initiative to help start-ups find affordable premises has been set-up by the Mayor of London, Boris Johnson and the British Property Federation.

The campaign sees the launch of a new website, London New Enterprise, which brings together up and coming firms looking for office space and landlords with property to let.

Johnson says: ‘It’s absurd that right now, across the capital, there are so many properties lying vacant while new businesses are looking for space and the opportunity to grow. These innovative firms are the backbone of the London economy and with the launch of this fantastic new website we can help both businesses and property owners get the right deal.’

Property vacancy levels in the capital have increased considerably since the recession. A report compiled for the BPF showed London had a 13.9 per cent shop vacancy rate compared to a national figure of 12.5 per cent. 

Liz Peace, chief executive of the BPF, which represents developers, landlords and investors, says: ‘This initiative is about demonstrating the industry’s responsible attitude towards new businesses and its desire to help them find a stable platform for the long-term.’

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