Taking Stock - The City's Office Space and Occupiers
An in-depth study of the City of London’s built office stock and occupiers, commissioned by
the City Corporation, has been published and launched at MIPIM. The research
undertaken by renowned consultant Sandra Jones of Ramidus Consulting highlights many
interesting and little-known facts about the market.
report shows the diversity within the City’s economy. It confirms the importance of the financial and finance-related sectors (48% of space is taken up by that sector) but equally shows that more than
half of the space has been taken by other sectors. There are 12 key occupier sectors in the
City as identified by the research, of which the financial sector is one. 70% of
units less than 10,000 sq ft are occupied by the other 11 sectors.
development trends are also changing. Since 1997 buildings are growing larger
but paradoxically the average occupier size has decreased. Large-scale buildings and new
developments must therefore be equipped to accommodate multiple occupation. As
such, it can be seen that small businesses continue to be crucial to the City, serving the needs of other larger businesses.
adaptability of the City’s economy to changing circumstances is analyzed. The growth of the technology sector, in particular around Old Street, is highlighting this, providing London with a reputation to equal that of
other cities with similarly well-developed TMT sectors.
Perkins is embarking on a research project with Sandra Jones shortly. For
further information, please contact either David Alcock or Chris Sutcliffe.
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