London is one of the leading global centres for creative industries such as publishing, film, TV, media, computer programming and information services.
Over the past five years, the tech sector has seen significant employment growth with 24,500 new jobs added in Central London, reflecting 87% of overall employment growth by creative industries.
This has had a significant effect on Central London office space, with extremely high levels of take-up reinforcing traditional clusters and spilling over into new markets. The contribution of creative industries to the UK’s economy is set to increase in the coming years, with London at its epicentre.
London's competitiveness as a centre for creative industries
Background to London's success as a cluster for the creative industries, and a comparison with other hubs such as Berlin and Paris.
Current and future locational trends
Looking at locational drivers such as cost, proximity to clients, connectivity and amenities; the breaking of traditional locational ties and the spread eastwards; the remaining desire from some tenants for more traditional corporate office space; and new creative locations.
The drivers and risks to future demand
Asking the question: is the tech boom sustainable? Can London cope with the expected growth, including supply of workers, fulfilling structural demand and coping with rising costs - and how will future demand impact upon office take-up in Central London?
How technological innovation, work and play are changing office workplace strategies
How far are flexibility of workspace, collaboration, and fit-outs a necessity for the creative industries - and will flexibility of leases come into play?
We interviewed a range of creative industries businesses for this report, including Warner Brothers, Google, Groupon, Hewlett Packard, YPlan, Recommind, TechHub and more. Download the report to find out what our interviewees think too.
From media startup to global tech giant, our Creative London team works with tenants across the creative industries, advising on location, rents, leases, fit outs, and workplace strategy in key markets such as Old Street, Shoreditch and Farringdon, and up and coming destinations including Hackney, Dalston and Haggerston.
And because we know where the creative industries are going and growing, our office agency and investment specialists can bring this insight to landlords, investors and developers who believe that a strong position in the TMT growth story is critical to their success.
If you'd like to discuss what the findings in our report mean for you, please feel free to call us for a chat.