We hear it everywhere, “digital and creative industries are driving growth in our cities”, and it’s true.
However, in commercial property terms, the sector is often linked with smaller lettings and shorter leases with low covenant strength occupiers who are less attractive to landlords and investors.
Tech North recently launched its Digital Powerhouse Report, which said that the digital economy accounts for £9.9billion GVA. Not only that but the North’s digital economy is creating jobs at 10 times the rate of other sectors and is on course to have 363,000 workers by 2020.
But whatever the size or location of the lettings, we can’t ignore the sector – the North’s digital workforce grew by 28% in the last five years, compared to 3.1% for the region’s non-digital workforce. So, if the sector’s growth continues at this pace or at a higher rate, hedging individual occupier risk by focusing on the sector makes good investment sense for the future.
So why Inspired Spaces North?
As an established media platform aimed at a digital and creative audience, we wanted to join forces with Prolific North to create Inspired Spaces North because this rapid growth and potential opportunity excited us and we wanted to delve deeper and find out more…
What motivates the creative and digital occupier when acquiring and fitting out their office space?
What galvanises the North’s workforce into action to increase inspiration and productivity in the office?
We wanted answers…
The judging
We received an eclectic mix of entries. We saw large industrial floorplates with individual workspaces and open plan, collaborative areas. Others have opted for smaller, more intimate settings with communal meeting rooms. 48% of the shortlisted companies for Inspired Spaces North have more than 50 members of staff, illustrating that the sector is experiencing some serious growth and is definitely one to watch in terms of real estate.
Inspired Spaces North’s is sponsored by Capital & Centric, Brabners and Zut Media
Find out more about Inspired Spaces North
The shortlist
Part 1
