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Shoreditch Tops Wish List for Expanding Media Companies
Start up media companies and particularly digital agencies are more likely to pop up in offices in Shoreditch compared to any other central London submarket a recent Morgan Pryce survey has found.
A key finding of our research is that companies are choosing Shoreditch compared to more traditional locations such as offices in Soho or warehouse style space in Covent Garden because Shoreditch offices are priced up to 60% less for comparable buildings in the West End.
Another driver to go east is the perceived new frontier and blue sky attitude of many of the firms with a cluster effect very much in effect.
Also evident is the availability of desk sharing with a huge informal network or companies renting adhoc space to freelancers or associated companies.
Sean Dooley, Morgan Pryce’s Serviced Office manager has noted Shoreditch also tops the wish list for serviced office providers wanting to open new centres. He went on to comment that the area is under supplied for centres which really understand the needs of fast growing companies, but more importantly there is an under supply of media style space.