Croydon has been named Britain’s most in-demand location for office space.
The borough scored the highest points in CoStar 50’s 2016 occupier index, ahead of Uxbridge which came in second and Central London – which was 12 points behind.
Croydon is now home to some of the UK’s biggest companies. Health and beauty retailer Superdrug recently opened its new head office on Sydenham Road. The relocation put the business and their 500 employees in a new 50,000 sq ft building, placing them in the heart of the town.
Councillor Tony Newman, leader of Croydon council, said: “It is fantastic to hear Croydon was the most in-demand office location last year. More and more big companies are recognising the excellent transport connections and other outstanding facilities we have to offer and are moving their businesses to Croydon, bringing new jobs for local people and strengthening our local economy.”
HM Revenue and Customs will be making the move from its current location in Westminster to Croydon this summer migrating around 2,500 members of staff into the Ruskin Square development. The government department already employs 600 members of staff based in the borough who will also be moving straight into the building.
These businesses are following in the footsteps of energy giant EDF which moved its global headquarters to Interchange on Wellesley Road last year. The cosmetics firm Body Shop has also relocated its head office and 200 employees to Croydon as well as building a £1 million beauty laboratory where its team works on new products.
Cllr Newman said: “Croydon is rapidly transforming and the index’s findings reaffirm the borough’s reputation as the place to be, whether it’s to live, work or play.”
CoStar’s ranking system measures demand and liquidity by comparing net absorption (meaning the amount occupied at the end of a period minus the amount occupied at the beginning as well as the investment volume in each area over the last 12 months, relative to its stock size).