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Summary
An analysis of the property requirements of modern industries such as those in the electronics, pharmaceutical and chemical fields, based on detailed interviewing of over 70 companies, is presented. The factors influencing locational choice are considered, as are the specific features of notional industrial schemes. The key points which emerged from the study include: there is no single type of property suitable for all knowledge‐based companies although generally they can be accommodated in existing premises. Location is the most important factor with relatively little importance attached to the particular building scheme. Locational importance derives largely from the need to be close to a highly skilled labour pool. Close proximity to academic centres is only important to a small number of knowledge‐based companies and is not as significant as has been claimed. Flexibility is important in a variety of ways, in terms of space utilization, expansion capabilities and lease structuring.