OUTLOOK
London
We often view London’s economic resilience as a given. Beyond these headline numbers, however, is a more complex story of fluctuating fortunes both behind us and to come.
Not all assets or locations have fared evenly, and nor will grow alike - our London Outlook report takes a closer look at key trends, challenges and opportunities.
Economy
Despite challenges such as Brexit, COVID-related tourism decline, and retail setbacks, London's economy remains resilient and well-positioned for a new cycle. Contrary to concerns, the city consistently defies doomsday predictions and rebounds from setbacks.
Offices
London, a global business giant and the UK's largest office market, has experienced a robust 15% growth in office stock over the past decade, outpacing other UK cities. Despite widespread hybrid working, the city attracts companies back to the office.
Retail
London, a premier global retail destination, rivals cities like New York, Hong Kong, and Paris. With over 26.5 million sq ft of retail space, London's diverse retail offer surpasses that of any other UK city. Flagship centres like Westfield and Battersea Power Station enhance the city's vibrant shopping scene.
Industrial
In 2023, London's big-box grade A unit market experienced subdued take-up levels, a contrast to the peak in 2020 when 39% of 10.7 million sq ft was let. Depleted availability, declining industrial land, and economic challenges have led to a more restrained occupier demand.
Residential
Despite London’s global appeal for residential investors, capital deployment and home delivery face complexity. Brownfield site viability issues, inconsistent local authority approaches, and social impacts contribute to a significant housing crisis, widening the social divide.
Sign up below to access the London Outlook
For more information, please contact:
