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December 3, 2013

Techspace prepares to double number of startups

Hosting hub will expand into new offices in 2014.

By Joe Curtis

Techspace London is set to expand into new premises, doubling the number of startups it can host.

The entrepreneur hub already operates out of two Old Street locations, and will add a third nearby within the first three months of 2014, CBR can reveal.

Co-founders David Galsworthy and Alex Rabarts said they expect the number of startups based at Techspace venues will double from 30 to 60 with the new address, which will provide up to an extra 5,000 sq/ft of space.

Rabarts told CBR: "It all depends on the size of the teams, which range from four to eight people. We have freelancers who want a hot-desking plan right up to companies of 20 people but typically it’ll be a team of three or four."

He added that while Silicon Roundabout’s growing fame has seen leases rise in price, the benefits of being around Tech City make it a good option for entrepreneurs.

"What it boiled down to is the value of the community, which exceeds the additional cost of office space around here," he said.

But Techspace’s growth also suggests startups are looking at collocation as an option preferable to paying for their own offices, with the hosting space’s rents in the region of £300.

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And Galsworthy said those prices are the same as those offered two years ago.

"Startups come here because of the community and because of being able to recruit quality individuals," he said.

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