CAPITAL WATCH ISSUE 1 2018

Over the past five years, London has demonstrated its ability not only to accommodate the capital’s startup scene, but also to attract leading global tech companies. The range of locations and properties available to tech companies in London matches the diversity of its tech ecosystem and provides environments where talent can thrive both inside and outside the office. Collaboration between startups and established sectors like finance, creative industries and life sciences means that the tech scene is now a London-wide ecosystem. Several urban campuses have taken shape across London in locations such as Stratford and King’s Cross, providing opportunities for large-scale workplaces, flagship HQs, and entire districts that nurture talent, innovation, and inclusion. Established office locations like the City and Canary Wharf are increasingly attuned to the needs of tech occupiers in terms of flexibility, digital connectivity, and the dedicated services that can be provided by incubators and accelerators. The City Core saw more large tech company in-movers than any other submarket during 2017, and in the latest Tech Advocates report the City was named the London borough that would see the fastest growth in tech companies in the next five years. Looking forward, the demands of the large tech-cos and startups are starting to converge and coalesce - both in terms of sub-sector agglomerations and at the level of individual buildings, where coworking facilities increasingly play host to a mix of early-stage businesses and corporates who value the benefits of co-location. Twelve months age, Sadiq Khan set out his vision for London to become the smartest city in the world, with digital technology and data at the heart of making the capital an even better place to live, work and invest. London already boasts strong smart city foundations. Open data is at the heart of many policy initiatives. London was at the forefront of contactless transport payments, Oyster cards and autonomous trains - all of which are designed to help ease congestion around the capital. Meanwhile, City Corporation recently launched its free high-speed WiFi network. Despite these successes, parts of London lag in terms of digital connectivity. An improved digital infrastructure is at the heart of ensuring that London both makes up ground with other global and UK cities and is also 5G ready. City Hall has announced plans to install half a million brick- sized miniaturised mobile masts on lamp-posts and other public buildings to make London Europe’s biggest “gigabit city”. Other key initiatives include bringing a 4G mobile signal to Underground tunnels by the end of 2019 and creating a new high-speed fibre optic with the Tube network at its heart. Bigger open data sets and new smart city technology create exciting possibilities to overhaul systems and new ways of running our capital that will foster talent, accommodate population growth and support the development of sustainable prosperity across London. Several urban campuses have taken shape across London in locations such as Stratford and King’s Cross The role of property The growth of the Smart City CUSHMAN & WAKEFIELD 07 COVER STORY