The genie is out of the bottle – what next for commercial property in the capital?

Chris White_01

The City of London’s workspace market has weathered a turbulent few years, but shifting workplace strategies and sustainability-driven renovations are shaping a resilient, adaptable future for the capital’s offices, says Chris White of CPMG Architects

Given the strength of the various crises that have buffeted the City – and indeed the country – in recent years, it is not entirely surprising that London’s commercial property market has taken a hit. The unprecedented disruption to market trends brought about by the pandemic is still being felt five years on, while the twin challenges of ongoing economic uncertainty and evolving workplace dynamics are causing decision makers to think long and hard before putting their hands in their pockets.

However, when you speak to those in and around the City’s office market, it is clear that those once-hurricane force winds are slowly but surely beginning to ease. Despite its challenges, London maintains a unique reaction time and level of investment compared with other areas of the UK. Sustainability-driven renovation projects are now proving key to continued, aspirational investment, and this is working hand-in-glove with some of the changes to workplace strategy we are seeing across various office markets.

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