The demand for serviced office space in Croydon has jumped by over a third in the last year as the area’s burgeoning reputation as an emerging tech hub continues to go from strength to strength.
According to new figures released by Flexioffices, searches by users for office space in Croydon had jumped by 38% year-on-year driven by the relative affordability of desk space in the area. The average monthly price of a desk in Croydon currently stands at £255.54 making it 37% more affordable than hip Hackney and as much as 56% more affordable than the average desk in Westminster. The wider Croydon area itself has recently enjoyed a raft of infrastructure improvements while schemes such as Croydon Tech City have emboldened the borough’s reputation as a desirable, up and coming area to set up a business.
Paul Slinn, Managing Director at Flexioffices, identifies rising prices in London’s trendy East End hubs as the reason behind the continued flight of businesses and entrepreneurs to cheaper and more up and coming spots. He said: “As prices in trendy East London hotpots such as Shoreditch and Old Street rise, we have noticed that people are seeking a slightly cheaper alternative and Croydon provides great solution for this. It’s not just the face of Croydon that has changed in recent years, but its reputation too. Croydon is now a real contender for companies looking for a cool and affordable business location.”