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Metro

16 / 02 / 2012

Tech revolution will transform life of the city

by JAYNE ATHERTON
THE skylines of Britain’s big cities are changing with finance giants giving way to the emerging technology, media and communications sectors.

From the BBC’s MediaCity in Salford to Google and Groupon’s new presence in London, they are looking for the biggest and most ‘tech friendly’ office spaces.

While take up of London’s office space fell 27 per cent last year, demand from the technology industry doubled, says letting agency Knight Frank.

Property company DeVono says business from these firms is booming, making up 33 per cent of inquiries last year compared to 15 per cent in 2010 and just nine per cent the previous year.

The firm is at the sharp end of the race to find suitable sites for the expanding industry. Founded in 2003 by 32-year old Robert Leigh, it started in a basement in London’s Mayfair with a small business loan of £40,000.

Now it has turnover in excess of £2million and boasts a record of being
central London’s top office finder for the last five years.

Adam Landau, 33, a co-director of DeVono said: ‘This phenomenal change in the nature of the business is changing the face of cities and creating business hubs in places which were ignored.’

London’s ‘silicon roundabout’ in Old Street had only 15 tech firms in 2007 and now has more than 100.

Twelve sites in this start-up hub are set to be completed by 2014. It will be interesting to see what happens when general economic growth returns.