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Business News

Capital's transport links help entrepreneurs

New and growing companies are being encouraged to spread out across the capital thanks to better transport links, London's leading landlord for entrepreneurs Workspace has revealed.

Jamie Hopkins, the chief executive, hailed a "transformational" year for the company, which has raised pre-tax profits 58 per cent to £76.4m over the year to 31 March and refinanced its £410m banking facilities.

Mr Hopkins said that customers in the technology, media, telecoms and creative sectors were moving into its properties elsewhere in London: "They are not always willing to pay the higher rents in places such as Mayfair. We are seeing people spreading out." Cross Rail, the Jubilee line and East London line had persuaded them to eschew high-rent locations.

Workspace has more than 100 properties across London.