"London has rapidly emerged as Europe's data centre capital, much to the Government's delight, but locations close to the City, where some of the UK's biggest data users are based, are rare and much prized. That is because, when it comes to financial trading in the 21st century, milliseconds matter. The shorter the physical distance between trader and data centre, the faster instructions can be processed, creating a minute but crucial competitive advantage."
"when it was bought for an undisclosed sum reported to be around the 10 million mark by Baghdad-born businessman Ely Zeloof, who had moved to London in the 1970s to build a garment empire around Brick Lane. The brewery site is now run by his sons Oren, Jason and Ofer and has evolved into a hive of galleries, cafes, workshops, event spaces and independent retailers that has helped make the area one of the buzziest in London."
The Truman Brewery site near Brick Lane is under consideration for a major data centre that would serve the City and exploit very low latency for financial trading. London has rapidly emerged as Europe's data centre capital, and locations close to the City are rare and prized. Financial trading in the 21st century values milliseconds, so physical proximity between traders and data centres provides competitive advantage. Tower Hamlets faces acute housing need, with 29,000 households on the waiting list. The site was shut in 1989, bought in 1995 by Ely Zeloof, and now houses galleries, cafes, workshops, event spaces and independent retailers run by his sons.
Read at www.standard.co.uk
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