London Office Lowdown: Is Everyone Moving to Midtown?
The coming months will see new serviced offices launch in Holborn, Euston and KingΓÇÖs Cross. Is LondonΓÇÖs Midtown having a moment?
Occupying a location which borders on the City and the West End, Midtown spans several key areas in Central London. These include Holborn which has traditionally been popular with legal firms, Covent Garden which is home to many media and creative companies, and the bustling transport hubs at KingΓÇÖs Cross, St Pancras and Euston.
As a number of office providers prepare to launch new serviced offices here, we take a look at whatΓÇÖs making Midtown an attractive location right now.
Flagship business centre for Holborn
Targetspace is the latest provider to announce new offices in Midtown, revealing plans to launch a business centre in Holborn. The centre will span three floors, offering up to 280 workstations. Significantly, the provider has stated that following fit-out, the new offices will serve as the flagship centre for the brand.
Targetspace isnΓÇÖt the only provider to recognise Midtown as a key location. Last year saw Orega launch a new premium business centre on Chancery Lane, while a number of forthcoming centres are set to transform serviced office options across Midtown. These include a new Regus centre in Euston, as well as three new centres in KingΓÇÖs Cross all being developed by The Office Group.
But itΓÇÖs not just business centres seeing the benefits of this Central London locationΓÇª
Room for a groundscraper (and a brand new business centre or three)
There arenΓÇÖt many places in Central London that can boast room for a groundscraper, but Midtown, or KingΓÇÖs Cross more specifically, is one of them. ItΓÇÖs this availability of space which has attracted search giant Google to the area and will see it unveil its ambitious new London HQ here in 2017.
GoogleΓÇÖs presence alone is enough to shine the spotlight firmly on KingΓÇÖs Cross. But the new HQ building is already part of much wider plans to regenerate the KingΓÇÖs Cross/St Pancras area, with plenty of other large projects underway.
Among these, The Office Group is currently developing three new business centres ΓÇô including its first complete build from scratch. ItΓÇÖs an unusual move for a serviced office company, but one which suggests their confidence in the strength of Midtown as a serviced office location.
The home of international tech giants
With its ΓÇ£Tech CityΓÇ¥ moniker, you could be forgiven for thinking that Shoreditch is the only place in London where youΓÇÖll find tech companies. Nothing, in fact, could be further from the truth.
Google has a campus there, but they donΓÇÖt work there ΓÇô rather, their Campus London site provides co-working space for small businesses and startups. Right now, theyΓÇÖre split between Victoria in the West End and St Giles in Midtown. Once their new HQ is complete, theyΓÇÖll be based solely in Midtown.
Other major tech companies based in Midtown include Amazon at Sixty London in Holborn (again, they wanted plenty of space), Facebook at RegentΓÇÖs Place in Euston, Skype on Chancery Lane and Asos just a few minutes from Euston on Mornington Crescent. Twitter is also rumoured to be looking for space in this part of the capital.
In other words, when it comes to tech companies, Shoreditch is for the startups; but Midtown is where youΓÇÖll find the well-established international tech firms.
More than a moment?
With all the high-profile businesses settling in and all the new business centre launches, it looks likely that Midtown isnΓÇÖt so much having a moment, as starting on a longer and more lasting journey.
And why not? It offers the opportunity to build larger offices, is home to the thriving transport and leisure hub at KingΓÇÖs Cross and St Pancras, and has some of the worldΓÇÖs biggest companies moving in.
With all that in mind, Midtown is definitely a location to keep on your radar. WeΓÇÖll certainly be keeping it on ours.
What do you think? How does Midtown compare to the City and the West End? Share your thoughts in the comments.
(Image top: Targetspace’s new Holborn business centre)