Virtual Office

London Virtual Office & Office Space (Part 1)

City of London (the Square Mile)

The city of London is the largest city in the UK (United Kingdom), with an economy that contributes 17% of the entire GDP of this nation. This stems from the fact that London has been established as a center for finance, fashion, communications, arts and entertainment, in addition to being a major city historically and even till today, therefore one of the best place to setup a vitual office or rent an office space. It remains as a city with the highest number in population within the European Union, with 7.5 million people living in the city of London, and 14 million people located in its metropolitan area. Additionally, the strategic location of this city has earned it the reputation of being a transportation hub in addition to a popular tourist destination. Furthermore, this city acts as the center for many global institutions and multinationals, and also a city with many world famous museums, concert halls and stadiums.

The City of London is essentially inclusive of a huge area known as the Greater London, which consists of 32 London Boroughs and the City of London. All the other districts within London are located around or surrounding the City of London, which is the main financial district area. In terms of size though, the City of London accounts for only a small land area within Greater London. This is why it is known as The Square Mile, as this major financial district is only a square mile in size right in the middle of London.

In terms of location, the City of London is bordered by the City of Westminster on the western side, with various other streets and boroughs forming the boundaries. These would include the Strand, Chancery Lane, Moorgate, Goswell Road, MiddleSex Street and the borough of Tower Hamlets and Bishopsgate, among others.

Major streets in the City of London include Aldersgate Street, Aldgate and Bishopgate, all of which were named after gates of the London Wall. Along Aldersgate Street lies the Museum of London, while the Bishopsgate Street is where the banks such as the ABN Amro and the Royal Bank of Scotland are situated. Perhaps one of the more popular streets is Fleet Street, which is renowned as home to the press. This is despite the fact that most of the major newspaper corporations have already moved out of this location to other areas within London. The last company to leave was Reuters which moved out in 2005.

Other important streets within The City of London include Queen Victoria Street, King William Street, ThreadNeedle Street, Leadenhall Street and the London Wall Street. The area surrounding Queen Victoria Street is particularly renowned for a high density of multinational corporations and skyscrapers offering thousands of square feet of office space and forming the major financial district in London. One of the prominent buildings here is the 60 Queen Victoria Street, which has been developed with a bronze façade and bronze columns. The major tenant of this building is the renowned management consulting firm, Accenture.

Other corporations which have set up their offices along Queen Victoria Street include Aurora Gender Management at 49 Queen Victoria Street, BP Gas Marketing at 146 Queen Victoria Street, Bank Mandiri and the Commonwealth Bank of Australia at 85 Queen Victoria Street, International Insider at 181 Queen Victoria Street and Philippines National Bank at 128 Queen Victoria Street. Amongst these buildings is the Albert Buildings, which is a host to many tenants from various industries such as David Alan Associates, a recruitment agency, Connelly-Manton, a printing company and Grier Olubi, who are solicitors. Therefore, having a virtual office or renting an office space along Queen Victoria Street in the midst of the City of London would be an ideal option for many industries.

One prominent tower within this central business district would be Tower 42 on Old Broad Street, which was the tallest building in the United Kingdom for a period of 10 years before being surpassed by One Canada Square in 1991. At a height of 600 ft, this tower had once been known as the NatWest Tower with an automated mechanical external cleaning system. However, after 1993, NatWest no longer remained as its anchor tenant and subsequently sold the building. Today, one of the most prominent tenants within Tower 42 is Vertigo 42, a restaurant and bar located on the 42nd floor. Other tenants here include the Bank of Korea, City Osteopath Clinics, Daewoo Securities, legal service companies such as Orrick Herrington < Sutcliffe and System Access, a computer systems development company. With such a variable mix of tenants, Tower 42 would be a good venue for virtual offices of many industries, as its location within the City of London is truly strategic and ideal.