Croydon Council has been hosting a competition recently to help build Croydon Tech City to find a co-working partner to help them foster a start up culture in the town. They have earmarked a building from their portfolio which will be transformed into a hub of ideas, enterprise and commerce – or at least that’s the idea.

Can Co-working in Croydon help the town’s Tech City Credentials?

For those co-working landlords lucky enough to be selected for the beauty parade it presents a dream opportunity to become a pivotal player in this emerging destination or rebel outpost depending on who you speak to.

So will the injection of co-working into Croydon Tech City be the catalyst for a sustained increase in start ups choosing Croydon Offices rather than Shoreditch?

Well from a cost point of view Croydon is better suited to start ups. Shoreditch desk prices are averaging £350.00 per desk per month, with some co-working landlords seeking £600.00 per desk per month. However from a pure transport or cool factor there can only be one winner!

But in our biased opinion Shoreditch offices provide better value for money when you take into account every thing you have on our doorstep and the access to the already established eco-system of funding, collaboration and coffee.

Shoreditch was a natural place for start ups to congregate in the early beginnings of the Tech City initiative. The government further endorsed what was already happening in the area with its Tech City Investment Organisation which created various cheerleaders and advocates.

Some Shoreditch advocates believe that Croydon is trying to force the issue and artificially create something and it won’t work. However just consider the success of Canary Wharf, where as once upon a time the City of London was in the same position of Shoreditch. Both clearly now co-exist and remain wholly relevant.

So we wish the Croydon co-working centre every success and we’ll monitor the availability of affordable office space given the amount of enquiries we get for cost conscious tenants seemingly becoming frustrated with the price increase in the City Fringe.

Shoreditch Office Space. A property firm helping start ups, people, companies and organsiations every day no matter what their budget would love to hear from you – give us a call on 020 3434 3860.

EC2 Office Space to Let, Worship Street Shoreditch, Approx 18,100 sqft . At Shoreditch Office Space, our team of expert property consultants are always out scouring the streets of East London looking for new and exciting spaces. This is an example of something we came across on our travels…

This corner building provides fully refurbished media style space with tremendously generous exposed ceiling heights from top to bottom. You can see from the photo below that the building provides exceptional natural light and with sensible glass partitioning you can imagine this space being one of the hottest in town later this year. Each floor plate is nearly identical at 3,100 sqft, making them well suited to occupiers with 20-40 staff seeking trendy office space in the heart of Shoreditch. With the landlords high quality refurbishment works completing late 2014 the building is set to be launched to the market next month with likely lease start dates new occupiers in the Spring.

The building is two hop skips and a jump away from Google Campus on Bonhill Street and  occupiers will be a 5 minute walking distance to both the Northern Line at Silicon Roundabout and the Central Line at Liverpool Street station.

We don’t let buildings we help people find and secure them. So if you are looking for an office space like this in Shoreditch, or would like to learn more about the services we provide to our clients, please contact sales@reesa.com

How flexible are office leases in Shoreditch in 2015? There is no doubt about it one of the biggest challenges facing occupiers in the Shoreditch office market is finding flexible office space. Whether you are startup (funded or otherwise), a small business (zero to ten staff) or a medium business (ten to thirty staff), aside from cost, flexibility is often the single most important factor in their decision making process for a new office in Shoreditch. Despite the continued efforts, campaigning, and lobbying from the property team at Tech City UK, available flexible office stock in Shoreditch remains in short supply. For this reason we have seen the rise of co-working and serviced office space over the last 18 months and they are playing an integral role to solving the flexibility crisis in Shoreditch.

However, despite the fact that these landlords are very often providing plug and play purpose built / designed creative space with valued amenities such as break out areas, meeting rooms, roof terraces and event space – the actual physical space that they are offering their clients for the prices they are charging is leaving many occupiers feeling unsatisfied and in a state of limbo because the alternative of a more conventional office lease in Shoreditch, solves the lack of physical space by generally offering occupiers more than double the physical space that they have in say a serviced office for the money they are spending, but frustratingly they are only available on 5 year leases with commonly 3 year lease breaks being quoted, failing to offer occupiers the flexibility that their fast growing business demands.

In practice what we saw in 2014 and what will be likely to continue in 2015, is businesses with 10 or less staff will occupy co-working hubs and serviced offices on flexible terms and when their occupational needs demand more physical space to the point whereby their space sacrifice is no longer palatable, and their cash reserves are strong enough to secure a traditional lease because of the significant capex needed (for big rent deposits, fit out, furniture, IT infrastructure, connectivity, agency fees, legal fees ect…), then they will do so with the knowledge that there are flexibility parachutes available when you sign a long term lease to limit your liability. For example you have 25 staff occupying 2,000 sqft on a 5 year lease with a 3 year break and 12 months into the lease you are ready to higher 10 more staff in the near future and you need a larger space, more in the realm of 3,000 sqft. With the demand in Shoreditch remaining buoyant we saw occupiers assign and sub-let their leases / liability with relative ease to give their business the freedom to relocate and exit from a lease as and when they needed to. Of course we are in a boom market right now and this will not always be the case, but it is fair to say that this trend and booming market is looking likely to continue in 2015.

If you are in the market for a flexible office space in 2015 then we would love to help you with your search. Please email sales@reesa.com for immediate assistance.

Lion House on Curtain Road, was launched to the market earlier this year. It is effectively a new building with a grade A specification through out. The office space has attracted attention from companies looking to be in a central Shoreditch location and willing to pay a rent to reflect the buildings quality. The letting agents Hatton Real Estate and Richard Susskind have positioned the building well, as it’s getting strong interest with some tenants placing floors under offer.

Grade A Shoreditch Office Space available to let

Shoreditch Office Space represent tenants in the Shoreditch and East London office market. We don’t represent landlords and are not the retained letting agent for Lion House on Curtain Road. But if you are interested in being advised on finding office space in the area then we’d love to hear from you.

Lion House is just over 15,000 sq ft in total with a typical floor plate being about 2,200 – 2,600 sq ft.

At the moment there is a lack of office space available in Central Shoreditch. There is always a strong demand for floor of about 1000 sq ft as companies come out of co-working and startup office incubators. However these type of companies will sometimes have a restrictive budget, or want a more flexible term that a landlord is willing to offer. In the context of Lion House, the landlord is seeking a new Lease for a term by arrangement.

Please contact Shoreditch Office Space if you are looking for offices, studios, freeholds, or serviced offices in the area.

020 3434 3860 – or email sales@reesa.com

Those who follow our twitter feed will notice that we’ve started to moan about shoreditch offices to rent and what impact Clerkenwell rents reaching levels of around £60.00 per sq ft per annum exclusive of business rates and service charges may have. These rental levels have been expected for the grade A and newly built properties but with recent quoting rents on nice but not new buildings being with a £6 rather than a £5, this marks a significant shift upwards.

 Demand for office space in Clerkenwell and Farringdon has been fueled by companies relocating from traditionally more expensive areas such as Soho or Covent Garden. But when you actually analyse the quoting rents across the different districts in Central London a parity is starting to form. Farringdon in some instances is the same price as Soho !! Although you can still find more spaces in Farringdon for under £50.00 per sq ft p.a. than in Soho.

So where does all this rental growth leave Shoreditch? Lets first look at Shoreditch offices to rent over the last three years:

2010 – £30.00

2011 – £33.00

2012 – £35.50

2013 – £38.50

2014 – £45.00

All rents are per sq ft per annum

Some would argue that the Shoreditch buildings don’t have the specification to achieve a rent over £50.00 per sq ft based on a central London comparative view. Researchers would argue that anyone paying more than £50.00 per sq ft will have demands on their office space beyond simple style and a cool factor.

However Shoreditch does beat to the sound of its own drum. And the City research teams won’t necessarily understand the Shoreditch tenant mix as well as the decision makers choosing which building is for them. Of course most grown up companies need air conditioning, but then whether it’s a four pipe fan coil or VRV system doesn’t matter as much as whether the space has high ceilings and great natural light.

From our corner, representing the interests of tenants in the East London office market we really hope that rents don’t go too much higher as it will restrict the inclusion of startups and young businesses trying to make ends meet.

Shoreditch Office Space is the only company based in East London to represent tenants interests and not Landlords. So if you are looking to pay less rent have us in your corner. Call the office today on 020 3434 3860. Complete understanding of Shoreditch Offices to Rent.