Follow Us

We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message

Tech firms acquire more City office space than banks in 2012

Knight Frank Research’s latest figures suggest the government’s Tech City drive is working

Article comments

Technology, media and telecoms (TMT) companies have acquired more office space in the City of London than firms in the financial sector during 2012, according to the latest figures from Knight Frank Research.

TMT firms accounted for 931,000 sq ft of offices in the first nine months of the year, up 39 percent on the 670,000 sq ft acquired in the equivalent period of 2011. The financial sector, on the other hand, has acquired 620,000 sq ft so far this year, down from 680,000 sq ft in the same period last year.

The City of London is an area that is renowned for being dominated by big banks, and the figures are likely to come as good news to the government, which has made a string of announcements around trying to nurture a flourishing technology start-up scene.

The government hopes that by investing in the technology sector it will protect stable growth for the UK in the future.

Core to the government’s’ technology strategy has been promoting Shoreditch in London as the technology hub of Europe, dubbed Tech City.

It was also announced today that the government’s Tech City Investment Organisation has managed to secure a high profile hire in Joanna Shields, Facebook’s vice president and European head.

In other Tech City news, it was recently revealed that three local Shoreditch technology businesses have clubbed together to launch a new high-speed fibre network and secure cloud services.

The Shoreditch Network is a collaboration between bandwidth infrastructure provider euNetworks, cloud hosting provider Carrenza, and network company Optimity.



Share:

More from Techworld

More relevant IT news

Comments



Send to a friend

Email this article to a friend or colleague:

PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.

Techworld White Papers

Choose – and Choose Wisely – the Right MSP for Your SMB

End users need a technology partner that provides transparency, enables productivity, delivers...

Download Whitepaper

10 Effective Habits of Indispensable IT Departments

It’s no secret that responsibilities are growing while budgets continue to shrink. Download this...

Download Whitepaper

Gartner Magic Quadrant for Enterprise Information Archiving

Enterprise information archiving is contributing to organisational needs for e-discovery and...

Download Whitepaper

Advancing the state of virtualised backups

Dell Software’s vRanger is a veteran of the virtualisation specific backup market. It was the...

Download Whitepaper

Techworld UK - Technology - Business

Innovation, productivity, agility and profit

Watch this on demand webinar which explores IT innovation, managed print services and business agility.

Techworld Mobile Site

Access Techworld's content on the move

Get the latest news, product reviews and downloads on your mobile device with Techworld's mobile site.

Find out more...

From Wow to How : Making mobile and cloud work for you

On demand Biztech Briefing - Learn how to effectively deliver mobile work styles and cloud services together.

Watch now...

Site Map

* *