Though home prices in central London have dropped, news from the commercial space is upbeat. Global technology companies on an expansion drive have chosen London’s best neighbourhoods, a move that is expected to boost property prices slowly but surely over the next few years.
According to our estate agents London, leading tech companies are driving up investment in the UK, eager to leverage a growing talent pool and government’s incentives even in a new Britain. There is also the affordability factor: rental prices in San Francisco, on an average, surpass London’s by nearly 71%. A weaker pound has also translated into lower relocation costs for tech companies.
Last year, Facebook opened its new headquarters at Fitzrovia’s One Rathbone Square. From its reputation as a creative hub, Fitzrovia seems set to earn the moniker ‘creative tech hub’. Snapchat’s parent Snap signed a ten-year lease on the whole of 7-11 Lexington Street. If Snapchat is moving into a 12,570 sq ft building, Google is also coming to King’s Cross, and called the UK a ‘great home’ as it broke ground on the construction of its new headquarters yesterday.
It will be interesting to observe how Silicon Valley companies’ interest in London impacts properties for sale in Soho, Fitzrovia and Covent Garden in the near future. Watch this space for news and updates.
Estate agent in London
If you would like to speak with a London Estate Agent please call a member of the Greater London Properties Team who would be delighted to help. We specialize in Residential Sales and Lettings plus Commercial Offices and Retail. Our branches are based in our Soho and Bloomsbury the team are always on hand to discuss property in Central London.
Call Greater London Properties, Estate Agent London today on 0207 113 1066.