• 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

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 »
Aug 15

Hardware That Makes Mobile Phones Smart

The use of smartphones has become so common in the world today that it is almost impossible to walk outside without coming across someone that is playing a game or using their phone in order to get to their favorite website. While so many people use these devices each and every day, they do not […]

Read the Story »
Jul 18

What sets Coral’s mobile app apart from the rest?

Coral have long remained amongst the leading lights in the gambling industry, with millions of members regularly placing bets across their sports and casino markets. They continue to provide excellent promotional offers to attract new customers into gambling, with over 1700 stores nationwide for punters to make the most of the latest odds and specials. […]

Read the Story »
Jul 18

Improve your betting skills with trading apps

People who take their betting seriously will probably already be loyal users of betting exchanges over and above placing bets with a standard bookmaker. In an exchange, it’s just normal people placing bets and accepting other people’s bets (laying), with no bookmaker involved. The margins are better and the only commission you pay is on […]

Read the Story »