Situated to the East of the City of London and bordering the main EC postcodes the E1 market has grown to become a dynamic City office location. With easy access to Liverpool Street station, Spitalfields and Shoreditch as well as the City Core the location has wide appeal to both creative occupiers and traditional financial occupiers. Office space near Liverpool Street consists of a combination of impressive modern office buildings and smaller creative suites where cheap rent in the City can still be found. Map of EC1.
The location enjoys excellent transport links with underground services from Liverpool Street, Aldgate and Aldgate East, overground from Shoreditch High Street and national rail services from Fenchurch Street. Crossrail will open at Liverpool Street and Whitechapel stations in 2018 improving connectivity with the rest of London and access to offices in Shoreditch and the Eastern City and fringe.
With such local occupiers as Amazon, Uber and WeWork, UBS and Deutsche Bank this is where the media sector meets the City. The telecoms, media and telecommunications sectors experienced a 42% rise in employment between 2009 and 2014. An interesting dynamic has been the spread of the TMT Sector from Silicon Roundabout in EC2 East and South to Aldgate. Developers reacted promptly to this increase in demand for high quality offices with schemes such as the Relay Building and Aldgate Tower, and more recently with The Steward Building, the London Fruit & Wool Exchange, Shoreditch Village. London contains over 40,000 tech businesses which between them employ over 250,000 people. Whilst the area benefits from neighbouring Tech City, London’s major creative Hub, it shows overall occupier costs that are lower than its competing sub markets.
Other notable office complexes include Resolution’s Thomas More Square, Blackstone’s St Katherine’s Dock, Derwent London’s Whitechapel Building and the keenly anticipated redevelopment by Delancey of Royal Mint Court including two heavily listed buildings.
The restaurant offering is highly varied from the longstanding Brick Lane to many modern eateries and with new openings a regular occurrence, it is no wonder that so many occupiers choose to rent in Shoreditch. Popular offerings include Galvin La Chapelle, Ottolengi, Hawksmoor Spitalfields and the Hoxton Hotel.
Retail opportunities are extensive centered around Commercial St with Urban Outfitters and the Whitbread Brewery and with Brick lane cementing its positions as growing fashion hubs.
BBG has a wealth of experience advising both landlords and tenants in the East London market and has watched the evolution of this exciting central London office location with interest. If you are interested in finding out what offices are available in E1 and to learn a bit more about this exciting market then please feel free to contact us and Rab Douglas would be happy to discuss your requirements.
