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Silicon Roundabout Office Space - Commercial Estate Agents | DeVono
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What is the providence of Silicon Roundabout?
When David Cameron launched his idea for a California style technology hub to the north of the City clustered around the Old Street roundabout, no-one knew that it would enter the journalistic lexicon with such speed.
It has even now crept into the everyday language to such an extent that if you mention Old Street roundabout, some people may not know where you are talking about. It has been adopted equally by the people and companies who call it home, and the office agents who deal with buildings there on a day to day basis.
However, the emergence of a technology hub to the north of the City wasn't the brainchild of the current Prime Minister. It has actually grown rather organically over the last five or six years, driven by the high prices in the West End (and perhaps from the dot com bubble at the turn of the century). Tech start-ups have traditionally searched for areas with a buzz for creativity, and whilst Clerkenwell and Shoreditch in the east have been a bit oversubscribed recently, the obvious place was the rather windswept ugly midpoint between the two.
The Old Street roundabout straddles the border between the boroughs of Islington and Hackney and is a notorious traffic and accident hotspot. Connections here are excellent though providing access north and south via the Northern Line, and even an overground line to the north. It is the intersection of the Old Street and City Road on its east-west axis.
The term 'Silicon Roundabout' gained its name in 2008 from Matt Biddulph, then CTO of Dopplr, one of the companies based in the area. Another long term tenant in the area is Last.fm, still plying their trade after many years in the area.
However, the area is set for an even more acute transformation in the coming years as Google have given their backing to the area by taking a seven storey building as a hub for new businesses. Google said that the building in Bonhill Street, would host "a range of activities, such as speaker series, hackathons, training workshops and product demonstrations" in addition to providing workspace for new companies (BBC website, 28/09/11).
Derwent London are also planning on redeveloping a significant part of the area with a 270,000 sq ft mixed use scheme that features a new 'white collar factory concept' and a new public square.
It remains to be seen how much of an impact these new developments have on the wider economy, but with more than 300 technology companies already located here, the future is bright.
