The Savills Blog

Peterborough's growing connectivity attracts new business

Fibre Optics

These days the internet is everything and the speed of your broadband could make all the difference when it comes to setting up your business. According to Savills What Workers Want report, only 43 per cent of office workers in the UK are currently happy with the quality of their office wireless connection, however this could shortly change as the creation of Gigabit Cities across the country is looking to revolutionise the way we work.

One such example is Peterborough. In less than a year, CityFibre has transformed the city by laying 90km of fibre optic cable connecting 107 sites in the area, benefiting Peterborough’s previously underserved business community. Due to its success, Peterborough Council is now increasing its utilisation by adding a further 220 sites to the city's CORE network, positioning Peterborough as a leader of tech innovation. As a result, we will see internet speeds reach up to one gigabit per second (Gbps) – around 100 times faster than the UK average.

Businesses across the city are now taking advantage of the superfast internet on offer and the tech scene, while still comparably small next to the likes of neighbouring Cambridge, is starting to grow. On a larger scale, Thomas Cook recently reaffirmed its commitment to Peterborough, relocating its 1,200 staff to West Point House, a 110,000 sq ft office building on Lynch Wood Business Park. While the great wireless connection was undoubtedly not the only draw, it can only have a positive impact on the business going forward.

Peterborough continues to grow in popularity as a business location and has seen more than 6,000 office-based jobs created in the past five years, with a further 3,000 expected by 2021, according to figures from Oxford Economics. This represents a growth of 5.7 per cent in comparison with the UK average of 3.3. per cent. This can largely be attributed to the city’s good value office space and its strong links to London and the surrounding areas. However, as proven time and again, digital connectivity can also serve as a catalyst for economic growth.

Decent internet is no longer a luxury but an essential and Peterborough is firmly at the forefront of the wireless revolution.

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