Aldgate is fast becoming the latest part of the City fringe to undertake major regeneration, not only to the residential sector but also the commercial sector, in particular in terms of offices. The rise of the TMT age has seen Shoreditch and Clerkenwell rents soar, with some offices achieving up to £42.50 per square foot. The huge demand from TMT companies for the converted-warehouse style of office space has drawn many clients out of the West End and into the City fringes.