London to create new homes from empty offices
April 28, 2021
Offices in London’s City finance district left empty by the pandemic will be transformed into at least 1,500 new homes by the end of the decade, the City of London Corporation said on Tuesday.
The governing body which runs The Square Mile unveiled plans to work with the property industry to refurbish and develop deserted buildings, including for culture, retail, hospitality and start-ups.
The announcement comes as many office workers have permanently adopted remote work during the pandemic, leaving prime real estate vacant in the UK’s historic financial centre. The corporation’s head of planning and transportation, Alastair Moss, said the City home to some of the world’s major blue chip firms would adapt and prove resilient .
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City Corporation unveils action plan to be world’s most innovative, inclusive and sustainable centre What is city talk?
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The Square Mile must adapt to post-pandemic economic and social trends in order to remain a world-leading ecosystem, according to a new report published today by the City of London Corporation.
The Square Mile: Future City, produced by the City Corporation’s Recovery Taskforce inpartnership with Oliver Wyman, sets out a vision for the next five years with detailed actions to enhance the City’s competitiveness and attractiveness.
The Recovery Taskforce’s mission is to ensure the Square Mile is the world’s most innovative, inclusive and sustainable business ecosystem as well as an attractive place to work, live, learn and visit.
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The City of London is planning to transform empty office buildings into 1,500 new homes as part of a recovery plan to boost the Square Mile after it was hit hard by the economic fallout from the Covid-19 pandemic.
The City of London Corporation said it must adapt to “post-pandemic and social trends” to ensure it maintains its position as a world-leading ecosystem, a new report from its Recovery Task Force titled
The Square Mile: Future City said.
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The Corporation said it will work with the property sector to look for “ways to use vacant space” by aiming for at least 1,500 new residential units by 2030 through “sustainable, flexible and adaptable buildings”.
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City of London to create new homes from offices left empty by pandemic
FILE PHOTO: The City of London financial district can be seen as people walk along the south side of the River Thames, amid the coronavirus disease (COVID-19) outbreak in London, Britain, March 19, 2021. REUTERS/Henry Nicholls//File Photo
27 Apr 2021 09:36PM (Updated:
27 Apr 2021 09:40PM) Share this content
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LONDON: Offices in London s City finance district left empty by the pandemic will be transformed into at least 1,500 new homes by the end of the decade, the City of London Corporation said Tuesday (Apr 27).