City of London reports strong post-pandemic interest in office space
The City of London Corporation approved 70% more office space for the Square Mile in 2021 compared to 2020.
The local authority鈥檚 planning and transport committee gave the green light to a total of 2,582,348 sq ft of gross floor space in 2020 and 4,360,944 sq ft in 2021.
Alastair Moss, chair of the committee, said: 鈥淚 am delighted that there continues to be such strong confidence in the City of London as the place to build world-leading offices for the businesses of today and those of the future.
鈥淥ffice occupiers are increasingly demanding to be situated in top-quality and sustainable buildings with flexible space suitable for new ways of working.鈥�
Much of the office space has already been pre-let or has gained strong interest from potential occupiers, Moss added, such as .
He also said there were a 鈥渟ubstantial number鈥� of office developments in the planning pipeline expected to go to the committee for decision this year.
Developments to have been approved last year include:
On approving 55 Gracechurch Street, located between Monument station and Leadenhall Market, the council noted there were 鈥渆merging trends for post-pandemic office space 鈥� delivering a 鈥榳orkplace destination鈥� alongside extensive retail, cultural, public art and open space鈥�.
Gross floorspace does not take into account any existing office floorspace within developments nor any floorspace which will be utilised for other uses.
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