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The City vs. Shoreditch: How To Choose Your Office Location? 15th Nov 2016

Search the world for global city that truly lives up to the grandiose meaning of its name, and you’ll find London is at the top of most people’s list. Never deterred by global political events and market shocks, London with its ever-growing cultural atmosphere and with its millions of daily commuters in a perfectly organised chaos is considered the most important metropolitan cities for business in the world. However, its success is also bring challenges, particularly when it comes to finding the right office space.  We took a look at two of London’s key and emerging business districts, loved and cherished but known for very differing reasons.

The City of London

In 2014, total employment in the City of London hit 396,800* and is projected to be 435,700 by 2025*. However, the one thing that continues to remain consistent despite the rising crowd is the City has always been linked to a sense of organisation and productivity; of institution. The area originally designed to be the office hub of London also holds The Clean City Partnership. Thanks to this initiation, businesses in the area are encouraged to reduce their litter, achieve their CSR goals and contribute to the cleanliness of the City streets. Alongside which security is a top priority. The Met has been successfully keeping the crime levels* in the area among the lowest ones in the country. Recently, it also became a founding member of Global Cyber Alliance to fight against malicious cyber activities which is a huge threat to any business. If you work in the City then one of the biggest advantages is being in the centre of a great business network; a home for over 3000 financial and insurance enterprises*, which rightfully grants the area a more traditional vibe. Traditional not at all intending to mean “outdated”. In fact, tradition is the characteristic which attracts those businesses who are considered highly professional and experienced. With huge amounts of investment to cater for city workers and better green spaces like City Gardens, restaurants and bars; the City has been an ideal location for serviced offices in London for years.

  

Shoreditch

London’s leading hub of emerging creative minds and innovations. Shoreditch on the other hand, is more associated with a “feel-good” element. Its growing population of start-up and creative businesses gives the feeling of a stress-free and fun working-life. However on the contrary of the City, Hackney Council is struggling with the increase in the number of office workers, as the area has only recently started to be considered as an office location. Shoreditch office spaces are often wide and open, since many are converted from old warehouses. In terms of rents, Shoreditch properties have seen a dramatic rent increase of 54% compared to previous year, whilst the City rent figures have increased by 21%*. Despite its high rents, the entrepreneurial spirit of Shoreditch combined with its hip-vibe lead many small to medium enterprises to locate here.  The state-of-the-art workspaces and the re-imagined youthfulness of the area are perceived to give Shoreditch a competitive edge when choosing an office space in London. But we all know the pool tables and X-Box corners are being used less and less as the dominant post-industrialised agenda for productivity eventually materializes for all companies. No matter how well funded at the beginning.    

So how do you get the best of the both worlds? 

Offices in the City have started to mimic the fit out specifications of Shoreditch offices whilst having the benefit of being located in the efficient and business oriented part of London. To understand more about flexible, cost efficient and unbranded serviced offices in City of London, click here and contact us for more info.        

*Sources:

Centre for Cities and CambridgeEconometrics

City of London Police Policing Plan2016-2019

UK SIC 2007

Valuation Office Agency