Is iCity a threat to Tech City as Tenants look for offices to Rent in Shoreditch

Shoreditch office space has been interested in the Tech City movement around Old Street for some time. We’re also interested in the ongoing debate as to whether the concentration of technology companies in London will remain around Old Street.

There is a government initiative to centre Tech City around Old Street based on recent press releases. However the iCity development remains an interesting contender for the technology companies to move into on a longer term basis, focused around the Olympic Park.

Recently companies seeking larger office space of over 10,000 sq ft  have struggled to satisfy the requirements in Shoreditch. During 2012 buildings such as Telephone House on Paul Street let to Emap and the building on the Great Eastern Street where Yammer have moved to have been notable insofar as they were closer to the heart of Shoreditch than some other interesting deals such as Google and Mind Candy moving to Bonhill Street.

The reason that Google and Mind Candy choose the buildings just north of the City we think is driven by the better choice of larger floor plate buildings. Originally developed for the City support services such as old fashioned IT companies or Financial service companies the buildings are often well specified and also on average provide larger floor plates.

It will be interesting to see whether the cool of Shoreditch will see companies focused on image and brand alignment with their office space compromise when faced with real competition further East at iCity.

For further information please contact Shoreditch Office Space.

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