Street art and street food are staples of the Shoreditch scene, and it’s long been the destination for artsy adventures and off-beat attractions.
However, in recent years, Shoreditch had developed something of a Brooklyn-esque reputation for having handlebar-mustachioed gentrifiers eating avocado toast on every corner.
In the neighbourhood’s latest reincarnation though, it’s become known London’s start-up hub. (You can thank David Cameron for dubbing it the so-called Silicon Roundabout back in 2010 for that.)
Since then, hundreds of would-be entrepreneurs and businesspeople have flocked to one of the capital’s coolest neighbourhoods in a bid to become the next Steve Jobs. We can only assume that that includes a sizeable chunk of the 10,016 startups which launched in 2017 too.
But is moving to Shoreditch the best move for your business right now? Here are some pros and cons of relocating to London’s biggest business hub.
PROS
It’s established itself as the place for start-ups
After Shoreditch (and Hoxton, to an extent) were daubed with the ‘Silicon Roundabout’ moniker almost a decade ago, they became the places to be for the art, culture and tech start-ups worth their salt. Anyone who’s anyone has an office in Shoreditch and, as you know, location is just as important when it comes to building a brand as…well, actually building a brand is. So, what better way to solidify your enviable (read: enviably cool) brand identity than by establishing offices in Shoreditch?
The residential market is booming
Reports indicate that the residential market in the East End of London is growing at a startling rate, not least thanks to the influx of big businesses in and around the area. For anyone thinking of relocating their offices, considering whether there are good places to live nearby (for both them and the staff who’ll be coming along for the ride) is a necessity. In Shoreditch, this shouldn’t be a problem. While people are clamouring to live there, it seems the real estate market is more than keeping up with the demand.
In addition to that, transport links with the rest of London are excellent (there’s nothing worse than being out in the sticks), and there’s no shortage of fun things to do in Shoreditch either. Downtime is just as important as office time, after all.
CONS
It’s expensive
Sure, Shoreditch is cool. As cool as a place filled with start-up bros can be. But, thanks to its flourishing popularity and status as the ‘It’ place for tech start-ups, it’s also expensive as hell. In fact, the Guardian reported that, not only are many businesses leaving the capital in search of pastures new, the rents in Shoreditch specifically are set to rise even further in the next three years anyway. Can’t we ever catch a break?
There are better options
On that note, there are plenty of Shoreditch detractors who consider the area somewhat passé. Perhaps ten years ago it was the place to be, but nowadays it has strong competition for other, more budget-friendly destinations across the country. Take Bristol, for example, a city whose ‘Enterprise Zone’ is flourishing. While Bristol is just as cool as Shoreditch in many respects—it’s the birthplace of Banksy—it’s also far more affordable and has a wealth of untapped talent that investors and start-ups should be taking advantage of.
There’s Manchester too, the long-established northern rival to London, although it’s worth keeping Newcastle in mind if you’re looking for your perfect start-up office space. Cheaper even than Manchester, it has a storied history of innovation and recent redevelopment in the city is proving popular with start-ups.
Shoreditch just isn’t as cool anymore
Shoreditch is no longer just a place, it’s a lifestyle. And it’s one that has been widely associated with destructive gentrification and overzealous booting out of the working class who’ve always populated the area. In fact, there’s even a word for that—Shoreditchification. Basically, Shoreditch isn’t as cool as it once was.
How can we prove that? Big banks are moving into territory once dominated by scrappy start-ups, according to The Telegraph. You know it’s the beginning of the end when bankers in suits and Audis (as well as Google, LinkedIn and Amazon) start setting up shop in a once-hip area.
In short, for the image-conscious business with deep pockets, moving to Shoreditch certainly isn’t a bad idea. If you don’t mind the ever-more commercialised feel of this once underground area, that is. For everyone else, there are plenty of other up-and-coming locations to consider. But at the end of the day, it’s your decision and you know what’s best for your business!
Regardless of where you end up though, take the stress out of moving day (hell, maybe you’ve even been convinced to move out of Shoreditch!) by hiring a removals company to do the hard work for you. By using buzzmove’s intuitive app, you can browse through removals experts within your price bracket and get quotes for your office move in minutes, saving time and energy.
Deciding where to go might be tricky, but actually getting there needn’t be.
