Victoria landlords should address the needs of growing tech sector

As Victoria starts to benefit from the surge in the tech industry, commercial landlords are seeing increased demand for innovative space for these creative firms.

Tristan Spark of Colliers Victoria told the Times Colonist that the techies are the bright spot in the commercial market with many taking up space vacated by the downsizing provincial government.

Figures from real estate firm DTZ Victoria show that there is little improvement in unoccupied space though which has stayed at around 7.8 million for eight years.

The firm’s Randy Holt noted that Victoria's tech sector has been an important force in avoiding the amount of empty space growing.

The agents say there is disconnect though between the needs of the sector and the way that landlords generally work. The tech firms want flexible terms while property owners want 5 to 10 year leases. 

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