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Shoreditch property: Sitting on the next Silicon Valley

Anyone considering Shoreditch property needs to know the area is now tipped to become the next 'Silicon Valley'. Shoreditch is about to grow into East London’s premier technology cluster, expanding on the 600 technology firms currently located there. Each firm was shown on an interactive map recently presented to the press by Prime Minister David Cameron. The Government is fully supporting the initiative, whilst firms such as Google and Cisco are moving in.

 

Shoreditch estate agents have long drawn attention to the area’s superb arts and entertainment scene. Shoreditch is a byword for the best of contemporary London culture, blessed with an array of chic bars and restaurants. Then there are the galleries, and the shopping is sublime, with locals and Londoners delighting in a plethora of bijou boutiques. The area also boasts Spitalfields market, with its artisan lifestyle shopping opportunities, open almost every day of the week in the revamped market hall. Petticoat Lane market is another local favourite, alongside the ever-popular Columbia Road flower market, perfect for a Sunday brunch at a one of the gastropubs. The technology cluster therefore brings yet another new dimension to the diversity that makes up modern Shoreditch. It’s a typical mix of innovative cutting edge start-ups alongside the bigger players. According to Shoreditch estate agents Stirling Ackroyd, the development will benefit local property.

 

"We have been working here for a very long time now and it has always been a progressive, dynamic neighbourhood. Creative and innovative professionals have always been drawn to the area; it first became famous for the culture, the nightlife and the shopping. Now we’re anticipating a new wave of UK and international technology professionals keen to rent and buy, which can only be good from a pricing and investments perspective. It’s always been a very exciting place to live; constant fresh investment means the area just keeps going from strength to strength. Shoreditch property itself ranges from classic older London townhouses to state of the art new build apartments. It caters to families and single professionals alike; there are plenty of excellent local amenities for both,"

 

The interactive map endorsed by the Prime Minister features tweets from the 600 odd technology companies currently within the cluster. Official Government support began a year ago. There has been a 225 per cent increase in the amount of research & development tax credit small and medium sized businesses are able to claim. Start-up owners can also claim double the usual amount of capital gains relief tax up to £10 million. A special "Enterprise Visa" also allows for more flexible recruitment to ensure they can source the highest calibre staff. Consultations are underway between Government offices, local business leaders and investors to identify further measures to boost progress.

 

To discuss your investment, selling or rental needs, call Shoreditch estate agents Stirling Ackroyd on 020 7749 3838. Details of their current available Shoreditch property can also be found online at their website.

Elkay Properties

06.12.11

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