As the finance sector remains under strain the gap is being partly filled by fast growing technology companies. At the moment they are moving westwards to the City fringes, particularly Clerkenwell, but it will not be long before they are closer to the heart of the Square Mile. The cost equation favours them, particularly cheaper rents than in the West End. Effectively, this is adding another business district to the ever changing London scene as its activities spread in all directions, in this case east. But it is only part of the picture because development continues apace on the South Bank and new schemes are on their way around Battersea Power Station and Wandsworth.
Oddly enough this has left Docklands in limbo with an increasing vacancy rate and over dependence on the banking sector. Nevertheless, the area will come again as London shifts once more. What this means is a real dynamic that reacts quickly to the needs of business and is a major reason for London’s global success. The UK capital and its population are used to the idea of an adaptable international city. Playing a major part in these shifts is transport, such as the rebuilding of Blackfriars and London Bridge stations and the arrival of new services. In the future these will be Thameslink and Crossrail.