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Disruptive demand

​​​​​​​​Stronger tech and media activity in the last three ye​​ars

Disruptive demand – Tech and media in London

JLL-office-market-update-q4-2015.JPG

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This report explores tech and media (T&M) company trends within Central London over the last three years. It looks at how real estate is evolving due to shifting locational geographies, smaller office premises and escalating costs.

Highlights

  • Between 2013 and 2015 T&M companies accounted for 23% of total office floorspace leased in Central London, well above the 10-year average of 17%

  • For every 1 sq ft of floorspace given up by a T&M company in Aldgate, Clerkenwell and Shoreditch, 8 sq ft of extra floorspace was leased to new T&M companies

  • Freedom of movement and eastern migration of T&M companies are being driven by two main factors: talent led real estate decision making and cost

  • Take-up of co-working space in London has grown exponentially. JLL data shows that 10% of all the office floorspace leased in London during 2015 was accounted for by serviced office providers compared to 4% in 2013

  • Complex dispersal patterns will play out over the next three years underpinned by the eastern shift of T&M companies

  • Tech companies will demand ever more high quality, flexible floorspace. Media companies will emphasise floorspace efficiencies coupled with a compelling talent pitch