Estate agent Kay & Co is predicting a surge of interest in parts of central London, which it says are about to become London’s new tech hubs, as more global tech giants plan to open offices there.
Joining Apple in Battersea Power Station, Google in King's Cross, Twitter in Soho, Facebook and Instragam in Fitzrovia, is the latest tech giant – Snap, the parent company of Snapchat, which has announced it is moving its international headquarters to Fitzrovia - making them the latest in a series of tech companies to see promise in an independent Britain, post Brexit.
As tech giants move into these areas what does this mean for property prices? Based on previous data from Cambridge, Reading and Oxford, which were all transformed into tech hubs, and which have all seen a surge in property prices of up to 60% in five years, Kay & Co is predicting a similar pattern in Fitzrovia, Soho and Kings Cross.
Martin Bikhit, MD at Kay & Co commented:“Tech giants are choosing to move their international headquarters, ramping up their investment in the UK. Fitzrovia, traditionally an art area famous for the rag trade is fast becoming a creative tech hub and with Snap moving in, the area will certainly bring in a much younger crowd.”