27 Apr 2021 - 15:27
The Bank of England and the City of London financial district in London, Britain, November 5, 2020. Reuters/John Sibley/File Photo
Reuters
London: London s Square Mile financial district plans to convert empty offices into homes and offer lower rents to creative businesses as part of a recovery plan from the COVID-19 pandemic, which has left many working from home and once-bustling streets deserted.
Built around the vast fortress-like Bank of England and home to ancient counting houses, narrow alleyways and Manhattan-style skyscrapers, the City of London is having to adapt to lure workers and companies back to normal office life.
HSBC to cut office space by 20% in 2021, halves business travel
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City of London Corporation to convert vacant offices into homes as part of post-pandemic overhaul
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The City of London plans to convert empty offices into homes.
The City of London, a financial hub, is seeking ways to draw people as a shift toward flexible work keeps some professionals away.Credit.Tolga Akmen/Agence France-Presse Getty Images
April 27, 2021, 11:22 a.m. ET
The City of London, the square mile in the center of London that is the heart of Britain’s financial and legal services, once had more than half a million daily commuters bustling through its streets. But the coronavirus pandemic has ushered in a new era of working from home that risks leaving the area permanently depleted. The City of London Corporation, its governing body, is looking for ways to revive it.