Technology companies are paying record rents to join hi-tech ‘clusters’ according to Royal & Sun Alliance Property Investments. And the Thames Valley could be the most significant area to be affected by the trend.
Commenting on the government’s first comprehensive report on UK cluster development Director Alan Bate said that the desire of technology companies to locate close to each other is pushing up rents in the region. “Clustering has taken place because these IT companies are so dependent on human capital and the skills crisis that currently exists in the IT sector exacerbates that.”
Bate made his comments following the publication of the government’s first comprehensive report on the development of clusters in the UK.
According to Insignia Richard Ellis, up to 80% of offices let in the Thames Valley over the last 12 months has been to telecom and IT companies.
EGi News 14/02/01
