If you've ever played the British version of Monopoly, then chances are it has coloured your perception of Mayfair. The iconic London district has the double-edged distinction of being the most expensive property in the UK version of the game. Sandwiched in between the Super Tax and Go squares, Mayfair is by far the most prized square for many players. In most games, once you've put some houses or a hotel on Mayfair, the fate of the game has already been decided. But in real life, does office space in Mayfair have the same assurance of success attached to it?
It's hard to say, but one thing is for certain - it's in extremely high demand. For a long time, Mayfair has had a reputation as an affluent, successful area (Monopoly was the chicken that hatched from the Faberg? egg, so to speak). Reputation speaks volumes, so it's natural that businesses will want to associate themselves with this area by buying or renting office space in Mayfair. The district is a favourite hang-out for celebrities, royals and other VIPs - as well as being home to many already-successful enterprises.
But there's more to Mayfair's popularity than star-studded associations. The area also boasts a rich history, and it's close to important London landmarks such as Buckingham Palace. Few areas in the capital - or, truthfully, the world - possess such a beguiling blend of tradition and modernity. For this reason, Mayfair is great for businesses that want to associate themselves with a sense of permanence, as well as display their fashionable credentials.
One common feature of Monopoly games is that it's very difficult to stake your own claim to the most expensive square once another player has filled it with their own properties. To some extent, a comparison can be made to office space in Mayfair proper. Businesses, once they're securely housed in a beautiful Georgian building, tend to want to stay there. There isn't a shortage of office space, by any means, but the properties that do come up tend to be snapped up fairly quickly.
The above-mentioned factors, unsurprisingly, mean that you will tend to pay more for offices in Mayfair than for other, less sought-after areas of London. However, you won't pay a whole lot more than if you choose commercial property in other areas around the West End. If you're looking for luxury office space in an iconic building, then the price does tend to shoot up, but if you're happy with basic or mid-range offices, there are more than a few deals to be found.
For the moment, there are no signs that renting in Mayfair is anything but a sound investment. The area is popular with companies that work in the financial sector, as well as many international brands, so the area is alive and bustling with big business, not to mention the swathes of tourists and shoppers that descend on the area. Real life is never as predictable as a board game, but having office space in Mayfair is sure to put your business in a place where success is a familiar friend.
Mayfair is the most sought-after square on the British Monopoly board - but does office space in Mayfair proper offer the same guarantee of success? This article looks at the benefits of renting or buying a London office in this iconic district.