London 'is world's best place for business'

06 December 2011

Written by Steve Olejnik

London is the best city in the world for a company to locate its offices, it has been said.

Iain Smith, spokesman for the London Chamber of Commerce, noted the time zone enables trade to take place between the east and the west.

Other reasons firms may wish to take out a commercial mortgage to purchase property in the city could include its public infrastructure and transportation system, both of which were described by the expert as "great".

He stated the English Language is the "lingua franca of business" and the capital has a more extensive history of global trade than any other location.

"Non-immediate business benefits" include the large talent pool and the amount of cultural activity taking place in the area, such as theatre shows in the West End, Mr Smith continued.

However, the recent Who Owns the City report, which was researched by the University of Cambridge and published by Development Securities, revealed 52 per cent of offices in the Square Mile are owned by foreign investors.