Technology companies are increasingly seeking
central London offices from which to operate - but high demand across the market means there is a shortage of space.
This is according to Bloomberg, which reports that start-ups in particular are keen to take up residence in the centre of the capital, but the growing scarcity of commercial space has forced them to move to other parts of the city.
"Small tech companies need extremely skilled and specialised labour," remarked London School of Economics professor Paul Cheshire, adding that this means centrally-located offices are particularly important.
Even larger companies are finding that
central London offices are in high demand, pushing them towards districts located elsewhere and creating more competition in these areas.
This appears to tally with figures from the most recent UK Commercial Market Survey by the Royal Institution of Chartered Surveyors, which revealed a rise in requests for Greater
London offices during the first quarter of 2011.
Around 43 per cent more surveyors recorded increases in demand rather than falls for this area, while 39 per cent more members saw rises within the central London sector than decreases over the same period.
Posted by Sarah Dudley
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