City of London Corporation sees almost 70% increase in office development in 2021
The City of London Corporation has today (21 December) revealed figures showing a year-on-year increase in office floorspace approved within new Square Mile developments.
In 2021, its Planning and Transportation Committee resolved to approve a total of 4,360,944 sq.ft* of new office floorspace. This compares with 2,582,348 sq.ft in 2020 – an increase of almost 70% year on year.
The developments to have been approved this year include 55 Gracechurch Street, 70 Gracechurch Street, 2-3 Finsbury Avenue, City Place House, 100-108 Fetter Lane, 120 Fleet Street, 115-123 Houndsditch and 14-21 Holborn Viaduct.
Chair of the City of London Corporation’s Planning and Transportation Committee, Alastair Moss, said:
“I am delighted that there continues to be such strong confidence in the City of London as the place to build world-leading offices for the businesses of today and those of the future.
“Throughout 2021 we have seen unprecedented interest in developing office space within the Square Mile and it is now abundantly clear that the future of the City office is flourishing.
“Importantly, much of this has already been pre-let or has gained strong interest from potential occupiers - such as the recently approved development on Holborn Viaduct.
“Office occupiers are increasingly demanding to be situated in top-quality and sustainable buildings with flexible space suitable for new ways of working. That is why these world-class developments are crucial for the recovery of the Square Mile, and indeed for all of London.”
There remains a substantial number of office developments in the planning pipeline expected to go to the Planning and Transportation Committee for decision in 2022.
Notes to Editors:
* These figures are the gross floorspace and therefore do not take into account any existing office floorspace within developments nor any floorspace which will be utilised for other uses.
The City of London Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK. www.cityoflondon.gov.uk
Media Officer, City of London Corporation
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