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As Silicon Roundabout leads, where do the rest of the UK tech hubs fit in

According to the report, 39,614 tech businesses are registered to inner London postcodes, while the East Central area of the city has 6,792 alone.

Going even further, across the city there are 58 tech firms for each square kilometre almost 50 times the density of the whole of the UK, which has only 1.2 firms per kilometre.

But if you thought that was impressive, the brute force of the Silicon Roundabout on the EC1V postcode means that around 3,228 tech firms are packed into every square kilometre outpacing the Old Street roundabout area of EC2A with 1,580 per kilometre.

Andrew Bridges, managing director of Stirling Ackroyd, said: Creativity and community matter and East London has both in spades. A new tribe of Londoners have made their home in the East, and this kind of movement develops its own momentum.

This is especially true for tech companies. They tend to depend on a small number of highly skilled individuals. They rarely need enormous offices. But they absolutely depend on the warp-speed exchange of ideas.

“You might think a cutting edge tech start up would depend more on remote working but the model for these disruptive businesses relies on a small number of talented individuals working and living near likeminded people.

Elsewhere, while there are 1,2,14 tech businesses per square kilometre in W1 postcodes Regent Street, Marylebone, Charlotte Street, Soho that’s still 62 per cent less than Silicon Roundabout.

It’s not all about tech either. The data showed companies in the Old Street area also rival London firms for creative industries, inclusive of advertising, public relations, architecture, design, publishing and media. As such, EC1V is ranked at third in the UK for creative firms with 1,857 per square kilometre just under Soho’s W1F area which boasts 1,858.

The honour of being the number one creative hub in the country goes to those in W1T home to 2,800 creative companies per square kilometre, with ad firms scattered across Goodge Street and Charlotte Street.

Manchester, which was was the tech industry’s closest non-London rival, is also a force to be reckoned with in the creative stakes. It is the closest competitor outside of the capital, with M2 accounting for 227 firms per square kilometre, followed by Birmingham’s B3 and Glasgow’s G2 on 223 and 66 firms, respectively.

Read more on the creative industry:

Interestingly, areas with the greatest density of technology companies have a more affordable residential property market. Indeed, EC homes are priced at around 20 per cent less than the average 846,000 properties in WC.

A distance of five miles between peak property prices in one part of London and the heart of innovation further east is no accident. Nimble start-ups and a young, innovative population both flourish best in a dense but comparatively affordable environment,” Bridges explained.

Property prices in the East and West are still radically different. But as a wave of activity travels through the East End, rents are catching up much faster than purchase prices which is providing real opportunities for landlords.

He concluded: Startups are shifting the sands of London property as their employees start to trace a different tube line home. And in even greater numbers, a bigger pool of tenants are attracted by the wider appeal of these new cultural hubs in eastern London. That younger, creative population then feeds the flames again.



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