54 commercial property Wake up Thames ‘Tech’ Valley


. . . and smell the coffee The Thames Valley needs to adopt a culture of openness and integration if it is to become a true Tech Valley of the future, delegates were told at the Thames Valley Property Forum (TVPF) held at Ascot Racecourse last month, writes John Burbedge


While ideally located, the Thames Valley also needs to attract young talent and entrepreneurial leadership by providing the right workspaces – meeting places like coffee shops have driven London’s Tech City – and the Thames Valley needs to listen and cater to its more mature and experienced demographic, said TVPF keynote speaker Emma Swift, manager of Entrepreneur Relations at Tech City UK which provides a platform for accelerating digital businesses across London and the UK.


Based on the success of the ‘Silicon Roundabout’ in London, getting the right workspaces and culture could accelerate an entrepreneurial community in the Thames Valley, Swift predicted.


‘Tech City’ was more a mindset than an east London location, she pointed out, with technology startups now happening throughout the capital and many other UK cities.


Innovative talent was not a ‘follow me’ group, unless the destination


held diverse appeal, opportunities, facilities and serendipity. And the destination didn’t have to be a city, simply a location that provided the right welcoming catalysts and identity.


It isn’t by chance that forward- thinking corporates are seeking to bring innovation to their office space as a way to differentiate and reflect their brand, Swift noted.


The Thames Valley had its own wealth of technology-led innovators and entrepreneurs, but lacked the right appeal for dynamic clustering of technological talent.


Louize Clarke, co-founder of ConnectTVT which has just launched a Grow@Green Park innovation hub, went further: “The Thames Valley has plenty of mentors and entrepreneurial startups, but we don’t provide them with the right support. At


Audience participation was a feature of the TVPF Retail: Still taking stock of property needs


The revolutionary change of online shopping is causing retail and logistics professionals to scratch their heads over property requirements.


Their challenge is understanding the fast-evolving retail market. Retailers are struggling with their customer supply solutions, explained Gareth Osborn of SEGRO.


The rapid growth of online shopping has already put extra pressure on supply chains, particularly the dynamics of last mile logistics, and accordingly the need for fresh distribution hubs and warehousing units.


People are now shopping less, but more frequently. They are using the High Street as a showroom, then buying from home, commented Jack Farmer from Sainsbury Property Investment.


Ironically, parts of the High Street retail sector, hit hard by online purchasing, are now seeking extra space for product storage. Apparently, online buyers return many of their previous purchases to the relevant store, when they go in to pick up their ‘click ‘n collect’ orders.


“People have so much choice online, they now want this to be replicated in the physical environment,” said Fiona Brownfoot of Hicks Baker, explaining the success of huge Westfield developments.


One online bonus is that successful e-commerce businesses are now taking up extra office space, added Brownfoot.


The bottom-line is that the property sector will need to be accommodating in more ways than one, while online retailing goes through its formative years.


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present our regional image is like dad-dancing at the disco.”


Rapid change was also essential, said Clarke. Things were improving in the Thames Valley but arguably not quickly enough to be attractive to the fast-moving world of technology talent.


David Gillham, University of Reading’s director of research and enterprise, agreed while highlighting the need for better Thames ‘Tech’ Valley marketing. Clusters and pockets of Thames Valley technology also needed to realise they were not competing with each other, but potential partners who could help grow the technological legacy of the overall UK community.


Swift too stressed the need for speed of change, collaboration and improved marketing, not least because she believed another wave of American tech corporates would soon be looking for European headquarters in the UK.


Turning business parks into


communities that work The Thames Valley needs to create third-generation business parks that fulfil wide-ranging lifestyle and workstyle criteria.


Too often business parks today are tired and bland in the eyes of 21st century companies and their staff, the TVPF heard. They need to become attractive workplaces where people enjoy coming in to work, and companies can recruit, retain and maintain high-quality staff performance.


The good news is that most business parks are well-located and can improve their working environments through creative refurbishment and retrofitting.


But, business parks also need to combat the wider challenges of intensified occupancy, flexible workstyles, ‘green’ energy efficiency, digital and transportation connectivity, commuting times and car parking, and improved in-park amenities, said Steve Lang of Savills and Scott Witchalls of Peter Brett Associates in their Park Life presentation.


Solutions could only be achieved through collaboration between park stakeholders – owners, landlords, occupiers, and local authorities.


Leading business parks now represent mixed-use communities – modern villages, perhaps – with cycle routes, crèches, food, wellbeing and retail facilities (such as click ’n collect), even education and nearby accommodation provision.


One third-generation business park, said Witchalls, has evolved as an integral part of the village of Kings Hill in Kent, recently listed among The Telegraph’s Top 20 places to raise a family.


THE BUSINESS MAGAZINE – THAMES VALLEY – OCTOBER 2014


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