10 new towers planned for the City of London

The recent news that planning permission has been submitted for the construction of ten new towers in the City of London [1] comes at a time when the media would have you believe that the end of the world is nigh and that we are in economic meltdown.

This is not what we are seeing in our Work Space division. 

News of a deep, dark recession seems ill-timed and pretty redundant when we look at our contract numbers which are at an all-time record high and the significant optimism that our clients have in their plans for the year ahead.

These ten new towers represent not only increased economic confidence in the future of the City but in the construction industry as a whole. What is particularly heartening is that these particular buildings are not intended purely for use by the financial industry, as has traditionally been the case. Occupants are set to include creative arts companies, a number of technology firms and businesses involved with media and education. Many anchor tenants are said to have been secured already, which could represent a significant economic boost for the Capital.

Back In Business

Data provided by Bloomberg and Transport for London indicates that London really is back in business following the COVID-19 pandemic, with the "Pret Index" putting the city's financial recovery ahead of rivals New York and Tokyo, and passenger journeys into the capital at up to 80% of pre-pandemic levels and expected to continue to rise. 

There is no doubt that the King's coronation later this year and the 300th anniversary of the death of Christopher Wren next year will draw in hundreds of thousands of visitors from around the world who will be keen to visit St Paul's Cathedral, Buckingham Palace and a variety of other historic London landmarks. 

Modern Office Space 

Many businesses operating out of the Capital are investing heavily in their facilities in order to deliver a better working environment for their staff, creating green spaces to improve employee wellbeing, collaborative working environments for touch-down workers and other improvements all designed to tempt home workers back into the office. Requirements by planners for existing buildings to be retro-fitted rather than demolished are costly and, in many cases, challenging, so it is no surprise that businesses are looking to move to more modern facilities when their leases come up for renewal.

It is anticipated that these ten new office blocks will deliver modern and efficient working environments for businesses of all sizes. They will enhance the appeal of the Capital for workers who may utilise them on a hybrid or full time basis as appropriate and create a stunning new visual skyline for the city that will attract and appeal to visitors from all around the world.

Build Space Involvement

As a specialist talent solutions provider, we are ideally placed to support innovative and exciting builds of this scale with the skilled, experienced and knowledgeable personnel required to create or supplement teams, right from the initial planning and design phases, through construction and fit out, to sign off and the capture of lessons learned.

Our talent pipeline consists of skilled personnel from all areas of the industry who can be deployed at short notice to support evolving, short notice or urgent requirements on both temporary and permanent contracts. 

To find out how we can help you to fulfil your obligations, ease your resourcing burden and secure the best balance of skills that you need at any point in the construction journey, please call us today. We look forward to helping you grow.

Resources:

[1] https://www.standard.co.uk/news/london/ten-new-towers-planned-city-skyline-55-bishopsgate-85-gracechurch-skyscrapers-planning-b1050752.html