Media reports about the success of London’s ‘Silicon Roundabout’ may be putting companies off looking for commercial property there. Recent reports have suggested that some start up companies have needed to look elsewhere – even outside London. Pearl & Coutts specialise in office space in London. Their advice to firms was that with the right help there are still opportunities in and around ‘Tech City ‘.
There have been reports that a staggering 55% of start ups in the area expect to make a profit in year 1 - double the rate of their American Silicon Valley counterparts. And the media has not been slow to report that many new businesses are indeed doing well there. Surveys by financiers found that 1 in 5 of 125 start ups had shot past their revenue targets in 2012. The area has been promoted by the UK Government as a centre of excellence and innovation for technology. Around Old Street and Shoreditch there has been a rush by technology start ups to occupy space over the last 5 years. In 2008 these areas were estimated to have been home to some 15 firms. Five years later that number stands at anywhere between one and three thousand plus. And the concern is now that the area is becoming a victim of its own success.
In any part of the city, getting the right office space in London is a pivotal part of success. The challenge involves not only the right price for the location, but also access to facilities, transport and the right ambiance and associations for customers and potential staff. In the Tech City area, many small firms could be left feeling that the runaway success of the place means all of these will now be out of reach. Pearl & Coutts are keen to point out they can find premises in and around the area that will work for start ups - and those relocating.
“We have commercial property available in key locations and we help all sizes of businesses. We can often suggest areas or premises that fit the client’s budget, and keep them in the right area. We can also help them with associated premises, for example, solving the headache of parking. We look at what they really need, for example, talking to them about whether they need a dedicated meetings room – and creative ways to source that. The key is to understand their needs and match them to a space that is really going to work. It’s not about a salesman trying to sell them something in a certain area. For us it’s about finding a viable, more cost effective office that still ticks all the boxes,” said a spokesman from Pearl & Coutts.
To arrange a time to discuss your commercial property needs, call the team on 0207 843 3788. All available office space in London and selected UK locations can also be viewed online at http://www.pearl-coutts.co.uk/
