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City of London plans to create 1,500 homes from empty offices

Given the small resident population, the City’s service businesses including coffee shops, sandwich bars and dry cleaners, have been hit especially hard during successive lockdowns as office workers, tourists and shoppers have stayed away for more than a year. An all-night cultural celebration, as well as traffic-free Saturdays and Sundays during the summer, and more weekend and night-time events are some of the ideas suggested by the City’s governing body as a way of enticing visitors and their spending power back to the area’s shops, hospitality venues and attractions outside office hours. Although the area is known for its large financial services firms, pre-Covid it was home to just over 24,000 businesses, 99% of which were small or medium-sized.

Creative start-ups and private flats: City of London eyes post-COVID future

 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.

The City of London plans to convert empty offices into homes

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.

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