As more and more and more multinational technology companies look to London for their European headquarters, they are regenerating parts of the city previously viewed as undesirable.
As one of the few countries in Europe where almost everyone speaks English, Britain, and especially London, is the ideal place for technology conglomerates to base their European headquarters. From Apple, to Google, to Facebook, and countless more, every major technology player wants their own little slice of London.
One part of London which is particularly famous for technology firms is the ‘Silicon Roundabout’ in Shoreditch. Many start-up technology firms were attracted to the area due to its proximity to the City of London and cheap rents. However, as more technology firms based themselves around Shoreditch, rents crept upwards and now outstrip many other prime London locations according to analysts.
Another prominent example of this growth of technology companies with is London offices is Google’s £1bn ‘landscraper’ office which they are constructing in Kings Cross. Viewed previously as an undesirable area, home to brothels and abandoned buildings, Google’s presence has increased the prominence of Kings Cross. This has improved its standing amongst businesses looking for office space.
In addition, Kings Cross is not the only area to benefit from largescale investment from a multinational technology company. Battersea Power Station which had been left empty for many years was recently announced as the UK home of Apple’s new offices. This has revitalised the area and justified the significant investment made by the building’s Malaysian owners.
Facebook is another major company which has confirmed that they are making long term investments in a London headquarters. They are based in one of our core areas, having invested in their Rathbone Square offices in Fitzrovia. Additionally, Snap, the company behind photo messaging app Snapchat, have based their offices in another area which we know very well, Lexington Street in Soho.
Here at Robert Irving Burns, we welcome this new investment from technology companies both large and small and look forward to further long-term investments in our fantastic and vibrant capital city.