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The lack of footfall around Farringdon, Old Street and Shoreditch is a sad sight, but there are signs that the offices in these districts will be filling up in the new year.

From a number of discussions with tenants, there is an appetite to get back to Central London. Certainly, when considering a return to the office, confidence is key – and clearly the vaccine rollout will help this.

Hub & Spoke Offices?

One trend we are noticing is a focus on hub and spoke offices, where regional offices complement a smaller satellite office in town. The usual suspects in the creative sectors are giving mixed views about dividing up the team. Many have the belief that coming up with ideas works best when the team is together.

One trend we are noticing is a focus on hub and spoke offices, where regional offices complement a smaller satellite office in town.

That said there are, of course, countless companies who have proven they can effectively work from home, with targets being hit and the team enjoying a shorter commute.

A flexible mix of office and home-based work

There are reports of certain tasks (such as staff training) being less productive over Zoom. With that in mind I have had more than one tenant say to me that their team likes the idea of coming to town for the odd day to catch up with the team (and the odd day for training). However, very rarely do I hear that it would be great if this was 5 days a week.

Converted warehouse space in Shoreditch
Converted warehouse space in Shoreditch

The converted warehouses which have attracted creative companies to these City Fringe neighbourhoods have always been inspiring places to work. In comparison with the kitchen table, for a lot of employees, there’s no contest!

Converted warehouses in the City Fringe have always been inspiring places to work. In comparison with the kitchen table there’s no contest!

New year, new hope for London office space

About Jon Franks

Jon Franks

Jon specialises in offices in the City of London and the City Fringes - Shoreditch, Farringdon and Clerkenwell.

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