To work, that is. London’s Mayfair district has become the world’s most expensive place to rent an office, but HF managers don’t care. "If you’re going to impress clients, it as to be a nice space," John Angelo of Angelo, Gordon & Co., told Bloomberg News. His $12 billion firm pays close to $200 a square foot for the privilege of having his shop in the area affectionately referred to as hedge fund alley. The prices are so high, that many a business denizen of the neighborhood are moving elsewhere, just as hedgies, flush with cash, have decided they were tiring of long cross-town trips to work. "It’s all about lifestyle," Christopher Brandon, co-founder of Rhicon Currency Management, said in an interview with Bloomberg News. Brandon is among a growing number of hedgies are moving closer to work in the area populated for centuries by aristocrats, top military men and even a bishop. One might wonder why rents are so expensive and why hedge funds in particular are attracted to the area. For one thing, London city planners have banned the construction of skyscrapers in the neighborhood, and for another, hedge funds don’t need a lot of space to ply their trade. The high rates are contagious and are catching on in nearby West End, where they’ve zoomed more than 50% in the past three years. Rates are not likely to stop rising or come down any time soon: real estate agent CB Richard Ellis says the current vacancy rate is just 3.7%.