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The London Real Estate Forum convened earlier this month over the 10-11 June, in Mayfair, London.
Delegates heard from leading property advisers, and business leaders, over the two days, covering topics from office design to London’s commercial property dominance, with development briefings running concurrently.
Rohan Silva, co-founder of Second Home, a company at the innovative edge of working environments for fast-growing companies, spoke at the forum, drawing on his experience as senior policy adviser for the prime minister.
In his talk he emphasised the lack of office space for small and growing technology companies. He pointed out that spaces for companies with five to ten people are difficult to come by, but that the ever increasing number of these kind of companies means that commercial property providers should act now in order not to miss out on the benefits this sector has to offer.
He also expressed concern that the kind of space needed by these technology companies needs to be flexible, allowing them to increase or decrease space where required.
He noted also that even large and international companies are taking on such lease agreements, as flexibility can have recognisable benefits for all sectors.
Many cities have set up ‘incubator’ sites/offices, often a cluster of smaller offices in a larger building, accommodating staff numbering between five and 30 people. These hubs provide services, ancillary staff, business advisers, facilities and equipment, reducing set-up and ongoing costs, while the locating of younger companies together under the same roof can lead to ideas-sharing as well as cost-sharing.
Silva also put forward the idea of investing in smaller residential spaces; where a smaller footprint allows more central living and hence an easy walk or cycle commute to work, something that Londoners are increasingly placing high up on their list of needs.
The forum also heard from Jeremy Skinner, head of strategic projects and policy evaluation at the Greater London Authority, who emphasised the growing attraction in the area of Farringdon, boosted by imminent Crossrail as well as the Thameslink Rail Service.
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.