Many technology companies are expanding and there are numerous new technology startups. This has fuelled a high demand for rented commercial property.
In February 2018, Relocate Magazine reported on Harwell Campus in Oxfordshire, which is a centre for science, innovation and technology businesses. It has let 160,000 sq. ft of space that represents 40% of the total leased commercial property in the Oxford region. Around 83% of the companies occupying space at Harwell Campus are tech form. Half of them are expanding, and the other half are relocating to Harwell.
The attraction of Harwell Campus is that it is close to Oxford, so has easy access to Oxford University’s research labs and research scientists. Much research at the University is being applied to commercial projects.
One company expanding at Harwell, is Keit Ltd. whose CEO, Dan Wood said:
“The benefits of being at Harwell for a start-up tech company are significant. We have access to world-class testing facilities and experts in a uniquely collaborative environment. On a practical level, the flexibility of leases allows small companies to focus on developing technology and their business, without losing time on administrative tasks.”
Harwell is one of a number of areas in the UK that specialise in high-tech companies. As technology is an expanding business area, there are many opportunities for investors to provide commercial property in science parks and campuses to fulfil the high demand from tech companies.
Commercial mortgages are available to finance purchases or build property intended for hi-tech company tenants.