CAPITAL WATCH ISSUE 1 2018

The future of technology companies in London By Toby Ogden, Head of London Markets toby.ogden @cushwake.com T his understanding then enables them to build and refine their products to meet the constantly changing demands of their target users. Sometimes this works and sometimes it doesn’t – but they are nevertheless listening to how people experience the product. This idea of user experience is also applied equally to the company’s staff. If you understand your people, what they want and how they work, you will intuitively improve productivity. This is about more than just flexible space, workplace sensors and activity- based working: it is the adoption of user-led design to create the most productive workplaces - with the ambition to create the best companies in the world. These companies believe their employees are their most important customers. So how does this apply to real estate? For the last decade the conversation has revolved around workplace design. This has now moved on, and as the “how to run a great tech business” model matures, companies are recognising that the next step is to consider how they can influence the community and the city itself. Technology companies continue to be more discerning than the average, evaluating locations through a decision-making matrix that includes the building, the landlord, the community, and ultimately their ability to influence the metropolitan area. How does this translate to London’s technology sector? London has proven itself to be a flexible, connected provider of some of the most forward-thinking workspaces across the globe. King’s Cross has become the blueprint for mixed-use development, while other developers are rapidly evolving their offer and learning from those businesses that are leading the demand for a different type of real estate. However, without people, London will no longer be in demand. Luckily, it remains one of the few truly global cities. And, in spite of Brexit and wider European political uncertainty, it also remains a place of relative stability. This makes it a safe and attractive place for the best and the brightest in technology to live and work. While political uncertainty continues around the world, London remains a relative sanctuary for global talent. As one of my clients said recently: while the U.S. is building a border wall in Mexico, it’s hard to recruit into the country – but it’s still easy to recruit into London. At the heart of the debate about the future of technology are ideas about its potential to dehumanise our society. Yet the companies leading the creation of tomorrow’s tech innovations are highly people-focused - seeking to acquire a deep-rooted understanding of people’s thinking, actions, and user experiences. OPINION CUSHMAN & WAKEFIELD 09 OPINION