So this week the report from TechCity Insider from Gfk has been the subject of a few headlines focused on office space becoming too expensive in Shoreditch for many emerging start ups. Tech City Investment Organisation has been dragged across the coals for too much chat and not enough action, but as Ben Southworld rightly points out, this has been spun, and doesn’t tell the whole story. In fact the report is not focused on Tech City Offices but more about an underlying lack of talented staff.
It is a true that rents have gone up in recent months in Shoreditch, and in some cases they are nearly double what they were 2 years ago. Shoreditch Office Space only represent tenants looking to secure offices or studio space in the East London area, and of course Silicon Roundabout is a key factor in the people we help. We still find value in the Market and help our clients from over paying. Certain buildings like The Tea Building or Zetland House are actually not full of Tech Companies as some people would expect, but they are bang on trend for what people want, and that is what we’ve seen driving pricing as much as anything i.e. people are overpaying for what looks cool and trendy.
We come across a mismatch almost daily in supply and demand. People who want offices, but can’t afford the ones they want, but it doesn’t mean they can’t have an office. If you are prepared to be unfashionable, Shoreditch is still cheap.
The most interesting thing we’ve read this week is actually not the Gfk report but actually the Guardian newspaper reporting on a piece of analysis carried out on the Tech City map. An alarming statistic that under 150 companies make up a list of about 1350 companies looking to be lauded as a Tech Start up, or at the very least part of the Tech Scene. No doubt worrying for TCIO, but for Shoreditch a healthy mix of Tech and Creative based industries strikes a good balance.
Joanna Shields says that “Tech City has become a thriving hub of tech-based enterprise and creativity,” “We have a vibrant community here, full of exciting emerging businesses that are growing alongside some of the world’s most respected tech companies.”
So if you are looking for good value office space in Tech City or Shoreditch please get in touch, as we’d love ot help you find your perfect office space.
Shoreditch Office Space are 100% independent and work with every building and space in the area. That’s our story.