This innovative London hub, Tech City, has plenty to offer both new and more established businesses. So, what is the cost of renting an office space in Tech City?
|Location||Grade A||Grade B|
|EC1 – Clerkenwell/Farringdon||£60 - £85||£40 - £60|
|EC2/E1 – Shoreditch/Old Street||£55 - £75||£35 - £55|
|E2 – Bethnal Green||£40 - £50||£28 - £40|
|E8 – Haggerston/Dalston/Hackney||£40 - £50||£28 - £40|
The Silicon Roundabout is London’s answer to Silicon Valley. The area of East London is well-known for its less corporate and more relaxed feel and for being an area of innovation and style. Key locations in Tech City include Shoreditch, Clerkenwell and Old Street. The area has seen unrivalled expansion as an office location over the past ten years. This has been particularly supported by the tech sector with an abundance of well-known successful tech startups all growing up and establishing themselves in this area.
Get in touch with our team of expert London office rental agents for more information on property in the area.
Tech City has been a desirable area of London particularly among the tech scene for the past decade. It continues to see investment from large businesses seeking a less corporate feel, in a trendy area, making properties there in high-demand, and of a typically high standard of fit out.
If you decide it’s not the right place for you, ask our London office rental agents for assistance in finding a more suitable area of London, be that Shoreditch, Hoxton, Islington, Clerkenwell, or further afield in South London.
Tech City is very well connected by public transport, making it easy to get to and from the area.
Old Street is a National Rail station served by Great Northern, while nearby Liverpool Street Station is also a major transport hub serving many lines as well as the Underground. Old Street underground station serves the Northern Line, opening access to King’s Cross and beyond.
Numerous bus routes run through the area including the 43, 205, 214, 394, and the area nearly always has taxis available. For the health-conscious, it’s an easily walkable part of London and there are several Santander cycle docking stations and a decent network of cycle lanes along major routes.
Journey times from Old Street station by tube:
Oxford Street – 15 minutes
Bank – 5 minutes
Kings Cross – 10 minutes
London City Airport: 7 miles, approx. 30 mins via Underground
Heathrow: 19 miles, approx. 50 mins via Underground
With an office in either Shoreditch, Clerkenwell or Old Street, you will not struggle for things to do inside or outside work hours. The area has seen an influx of trendy bars, MIchelin-starred restaurants, and after-work things to do to keep a growing horde of workers in the area after working hours.
If a team lunch is on the cards, then the area is well known for its pop-up food stalls and more relaxed lunchtime spots including Gloria on Old Street which has been hugely popular since its opening, and Whitecross Street market. These sit alongside more formal eateries including the Bleeding Heart in Clerkenwell, and Shoreditch’s infamous Smoking Goat and Brat.
If your staff are more of a healthy bunch, then there are a number of gyms in the Tech City area including Pure Gym, TriYoga and the newly opened Psycle Studio. Wherever you base your office in Tech City, you’ll not have a shortage of things to do after hours.
HOW DO I FIND OFFICE SPACE TO RENT IN TECH CITY?
Ready to be the next big thing in Tech City? We can help get you there. Our office relocation consultants have the knowledge and experience to help you find and secure your perfect Tech City office space. We know first-hand how stressful moving offices can be, which is why we provide support each step of the way – from creating a bespoke office search tailored to your needs, to completing commercial property surveys to give you piece of mind. We even project manage the office fit out on your behalf, so you can focus on your business. Take the stress out of finding your Tech City office space with us.
Tech City continues to be a popular part of London, attracting business of many shapes and sizes into a similarly diverse mix of office buildings. For a basic office suitable for a startup business or sole trader just starting out, prices per square foot can be as low as £15-18 in Bethnal Green (E2). For a similar office in a more desirable postcode like EC1 or EC2 Clerkenwell, Old Street and Shoreditch, the cost between £25-40 per sq. ft. For those looking for a fully kitted out, high-specification office, prices can vary but expect to pay between £40 per square foot in E8 Haggerston/Dalston/Hackney up to £90 per sq. ft. in EC1 (and more than this for office spaces occupied and kitted out by one of the tech giants).
Tech City is the third-largest tech startup cluster in the world behind San Francisco and New York City. It’s become a natural home to several clusters of businesses, which are, as the name suggests mostly centered around tech. Some of the larger industries within this space are tech clusters like fintech, edutech, and healthtech, many of which are relatively young startups. As well as this, software development firms flourish, as do data businesses, ecommerce companies, and those providing tech platforms and infrastructures like cloud businesses, AI & data science startups and cybersecurity.
With a real focus on startup and scale-up businesses, there is a lot of shared office space available in Tech City, as well as coworking spaces. That said, with large businesses like Google opening offices in Shoreditch, larger scale offices across multiple floors and premises have become more widely avaIlable. On top of this, there are an abundance of small office spaces suitable for those with 10-30 headcounts, and SMEs who are looking for relatively affordable London office space.
With a diverse mix of businesses ranging from one-man-band startups to global giants, there are office spaces for all sizes of businesses in Tech City. With these being at a few different price points, Tech City is still an attractive area to launch or relocate a business.
The Tech City area is generally very easy to get to from most areas of Greater London, with excellent public transport options. From Old Street, the Northern Line and Great Northern rail lines provide excellent connections, and Shoreditch has the busy Old Street, Liverpool Street, and Shoreditch High Street underground stations. To the north, Hoxton and Haggerston have Overground stations and are near Old Street tube.
Whether coming from central London or further North or East, Tech City is easy to get to, even via car for those willing to brave the Silicon Roundabout. Those coming from the west of the city might have a slightly longer journey, but as far as Kensington is still achievable in under 45 minutes on public transport.