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The Changing Face of Financial Workplaces in London – Insights for Financial Sector Firms

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.

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The Changing Face of Financial Workplaces in London – Insights for Financial Sector Firms

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