The volume of office space required cannot solely be provided within the existing boundaries of the City and West End. Areas now considered on the fringe will become mainstream destinations, and new hubs will be developed within London.
This is nothing new for London. The West End was originally built as a residential extension of the City, but for a century or more has been a key office market.
In the 1980s, Canary Wharf provided space for the City’s financial industries to expand, providing them with the floor plates they required in the buildings that suited their image.
More recently, Shoreditch and Clerkenwell have evolved from fringe areas dominated by light industry and residential, to being at the forefront of London’s tech and creative economy.
Kings Cross is also supporting the growth of life sciences with an array of medical research institutions such as the Wellcome Trust and the £500m Francis Crick Institute, due to open in late 2015.
The regeneration of areas such as Kings Cross and Paddington, have provided world-class environments that are offering vibrant retail and other amenities from the outset.