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Angel Islington runs from around Angel underground station along to Kings Cross and Old Street underground station. The area is largely dominated by residential property and, due to its good access to West End and the City, has become an increasingly desirable place to live. There still remain a fair number of offices in Islington which tend to be a combination of period and 1960s buildings which have relatively low floor-area space. Morgan Pryce, London’s commercial property agent, has also noticed that, despite improvements to surrounding transport routes, especially the regeneration of Kings Cross and St Pancras, rents have not shot up dramatically. With rents currently around £15 to £27 per square foot the area has appealed to many media and charity-based organisations.
Islington will continue to attract companies for reasons other than the lower rents because it is considered by many a trendy and creative area in London. The location has developed a thriving art scene covering a broad spectrum of exciting venues that are unique to London.
The burgeoning theatre scene is a major reason why Islington has developed such a creative image and much of this has developed from an early gentrification of the area. Many venues, including The Kings Head Theatre, have been operating for over 35 years, and the type of venue also varies hugely ranging from a puppet theatre to pub-based venues such as the Hen & Chickens Theatre, which has developed a huge reputation for its stand-up comedy.
Art galleries, restaurants, bars, pubs and music venues are also found throughout the area and this will surely appeal to those who work in offices in London. People who work in such offices in Islington benefit from being able to socialise in a huge variety venues after work.
The London Art Fair from 16th to 20th January is going to be at Islington’s Business Design Centre, highlighting how the area is still carrying its creative image.
“Many media companies are attracted to the idea of getting offices in Islington,” says John Eden, graduate from Morgan Pryce, “and they and their projects will take advantage of being in such a creative and artistic part of London.”
The cultural streak of the area is also demonstrated in the regeneration of offices in Islington. The Angel Building, St John’s Street – just by Angel underground station – was redeveloped in 2008 and completed in 2010 creating 260,000 square foot of grade-A office space. This transformation of a neglected 1980s building included 15,000 square feet of sky terraces as well as some exclusive site-specific art. This has allowed the building to be modernised while keeping the artistic feel of Angel Islington, creating a striking bit of architecture.
Christina Weguelin from Morgan Pryce believes, “if offices in Islington continue to be upgraded in a similar fashion by creating grade-A space, yet still keep in touch with the creative vibe of the area then Islington will certainly increase in popularity.”
Morgan Pryce is 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.