Glasgow and Edinburgh ranked among top five leading tech locations in UK - CBRE study
The latest report follows on from the firm’s 2017 and 2019 studies, which used the same methodology to rank the top 15 technology destinations outside of London, in order to inform the decision-making process of both occupiers and investors.
All markets across the UK were scored and ranked based on a number of factors including access to skilled talent, availability of office space, proximity to institutions providing high quality tech education, cost of living and cost of employment.
CBRE said Glasgow had continued to attract tech talent and companies, maintaining its position in the top three.
With high levels of educational attainment coupled with “relatively low” house prices, Glasgow is seen as an attractive location both for talent seeking a high quality of life and for companies wishing to employ them. Adding to that, 2.2 million people live within 45 minutes of central Glasgow and a high percentage of those are millennials.
With some 570 “creative occupiers” based in Glasgow, it is expected that a new wave of start-up tech companies will be drawn to the city. Currently, Pacific Quay is a main hub for media companies with the likes of BBC Scotland and STV based there.
Building on its strong reputation as a hub for financial services, Glasgow has emerged as a UK leader in the fintech - financial technology - sector. Due for completion at the end of 2023, One Central on Argyle Street will house JP Morgan’s European Technology Hub, a building with capacity for 2,700 employees.
Andy Cunningham, senior director from CBRE Scotland, said: “Glasgow is home to some of the world’s most creative and talented engineers, architects and designers, and in the last few years it has managed to attract a new generation of innovative tech start-ups with a strong focus on data science, so it definitely earns its position as the third leading tech city outside of London.”
Manchester topped the overall rankings, followed by Birmingham.
With five universities located in Edinburgh, the Scottish capital scores highly in the computer science degree scoring, resulting in its high placing in the overall rankings. The city is also home to a number of unicorns (a privately held start-up company valued at more than $1 billion) which has created a “clustering effect”.
Angela Lowe, senior director from CBRE Scotland, said: “Edinburgh continues to rank highly in the UK with 2,580 tech companies in the city. This is evidenced by the volume and variety of tech occupiers signing up for new offices.
“The city offers a quality of life which appeals to an international talent base, together with having home grown talent from the universities.”
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