We are delighted to share with you some valuable insights on the changing landscape of financial workplaces in London. Devono’s latest piece of research provides a snapshot of the recent office leasing activity as well as looking at what challenges lie ahead for businesses and their workplace strategies.
Here are some key highlights from the document:
- Leasing Appetite: An uptick in leasing by financial firms across central London has seen the volume of office transactions reach its highest level since 2010.
- Financial Subsector Leasing Activity: Investment & Asset Managers, Advisory, and Venture Capital & Private Equity firms constituted 53% of all leasing in 2023.
- HSBC’s Move: HSBC’s decision to vacate Canary Wharf for the St Paul’s area of the City played a significant role in the rise of leasing activity from the banking sector in 2023.
- Quality and Location: The demand for Grade A quality spaces increased in 2023, with 59% of the space leased being of Grade A quality.
- Challenges and Opportunities: Shifting demographics, adopting ESG goals, responding to regulatory reform, and harnessing AI and innovation will influence real estate decisions.
- Workplace Focus: Crafting an office space that aligns with the multifaceted needs of businesses, employees, and clients is crucial.
Click on the report image below to download the document.
If you would like any further information on this report, please do not hesitate to get in touch, or alternatively you can find out more at our website www.devono.com.
