• Screen Shot 2012-02-27 at 19.26.59
  • Other News

    Tech Industries Snap Up London Office Space

    Rhys - February 27th, 2012 7:30 PM

As London’s financial services sector continues to downsize, it has been left up to technology companies to take up the resulting slack in the property market.

2011 saw the amount of London office space taken by telecoms, tech and internet startup companies double, with the tech industry as a whole snapping up around 1.3 million square feet of commercial space over the year. This figure is up from just 610,000 square feet taken by tech firms in London in 2010.

This significant surge in demand for property by tech firms is great news for graduates and trainees hoping to find IT jobs in UK companies, and indicates the increasing importance of the sector to the recovery of the country’s economy. London’s Old Street has been a focal point for tech firms in London over the past ten years, spawning the name ‘Silicon Roundabout’ and its popularity continues. Schroders now owns property in the area, further strengthening its image as a thriving business community.

Screen Shot 2012 02 27 at 19.27.14 Tech Industries Snap Up London Office Space

Old Street Roundabout

However, while Old Street receives significant amounts of press and attention as the epicenter of London’s technological renewal, data from property group Knight Frank has shown that tech firms are also taking up office space in other areas of the city. James Roberts, head of commercial research at Knight Frank, explained in a recent interview with the Financial Times why tech companies were spreading themselves around commercial areas of London.

“Silicon Roundabout has been a magnet for the start-ups for some time but the bigger companies are realising that they need to be in London to hire the best people,” said Mr Roberts. “The difference is they need the kind of space usually taken by banks and big consumer-facing companies, so they come into the City or the West End.”

Screen Shot 2012 02 27 at 19.27.23 Tech Industries Snap Up London Office Space

Covent Garden Market

In 2011 alone, tech behemoth Google took up 155,000 square feet of commercial space in Covent Garden, while Groupon took 43,000 square feet of office space in the City. With Nokia set to take office space in Paddington for its UK headquarters, things are looking good for those wishing to build IT careers in London. Companies see the city as a source of rich pickings for new staff, and the future for UK IT professionals, as well as IT recruiters, is looking bright.

Comments are closed.

Latest Articles

Latest Competitions

Latest Reviews

Latest Articles

Which Apple iPad should you choose?

Which Apple iPad should you choose?

If you’re looking to purchase an Apple iPad, there are a few things you need to consider. Are you going to really notice the Retina Display, use the upgraded 5-megapixel camera or use the new 4G connectivity? If you answered no to any of those, then you might want to take a look at this guide on choosing the right iPad.

Read Article » How to replace cracked iPhone 3GS screen

How to replace cracked iPhone 3GS screen

So you’ve just been to a party and woken up with a throbbing hangover to find your iPhone screen is cracked. Familiar story? It’s happened to me, too many times! Fret not though, it’s really easy to replace a cracked iPhone screen and can be done for a just a fiver!

Read Article »

Related Content

Nov 12

Vodafone launches high definition calling across the UK

Mobile phone service providers are consistently trying to add technology to their networks to outshine themselves against rival companies. This time it is Vodafone with their recently launched technological enhancement, ‘high definition voice calls’. As its name implies, this brand new technology allows for HD quality calls to be transmitted for clearer and more vivid […]

Read the Story »
Nov 03

No Consolation For Consoles: Why PC Gaming Will Never Die Out

It’s no secret that some people prefer consoles over PCs for gaming and vice-versa. Games consoles are often seen in most people’s homes. But is it rare to spot a gaming PC somewhere in a friend or family member’s household? It turns out that PC gaming isn’t as rare as you might think. In fact, […]

Read the Story »
Oct 27

How Online Slots Took New Jersey By Storm

New Jersey players can now enjoy online casino slots from the comforts of anywhere they go!

Read the Story »
Sep 26

How technology has pushed the casino industry to the top

You don’t have to venture out far nowadays to notice just how prevalent the gambling and sports betting industry is. Whether it’s having a cheeky flutter on the latest football match or trying to make some cash on the gender of the Royal Baby, gambling has come a long way since the days of strolling […]

Read the Story »