CBRE recently released a report examining the leading tech cities in Europe. Although the UK is set to leave the Union the data found that London was the number one destination for technology-based companies. It beat competition from well established cities like Paris and Berlin, as well as up-and-comers like Budapest and Istanbul.
The index used to rank the countries looked at a wide variety of factors including employment, growth, opportunities for start up businesses, the number of patents, and the volume of students and graduates.
London has proven to be an immensely attractive destination for tech businesses for several years. The amount of floor space they currently take up in the capital exceeds 2 million square feet and it is set to increase even further in the coming years. Alongside this the growth in employment in the last five years has surpassed recruitment in office-based roles as a whole.
The City of London in particular has become a technology hub. This has occurred because of a shortage of office stock in the West End of the city. The central location of the city and sheer number of commercial buildings makes it very attractive.
The growth in the technology industry has benefitted other areas too. Locations such as King’s Cross, Southbank, Midtown, and Farringdon have all seen growth. Silicon Roundabout is also firmly established as a leading area in the whole of Europe in terms of the number of start-ups.
At Finefair we have seen all of these developments first hand as a result of our comprehensive services. In the City of London we offer everything from estate management to lettings. This means we are well placed to support clients, help them find the right property, and offer ongoing services to maintain it.
London’s reputation as a technology hub is fantastic for the property market because it attracts students, prospective employees, and new businesses too. Each of them needs something different in terms of properties. This provides a lot of opportunities.