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A new report carried out by the City of London Corporation and the City Property Association has found that, despite Brexit uncertainty, businesses continue to see London as the first-choice location for global teams – predominantly due to the city’s international reputation for collaboration and innovation.
The survey of over 450 business leaders, titled ‘Locate, create and innovate: London in a changing world’, revealed that 37% of participants considered London the best location for global hubs, followed by New York and Paris at 26% and 20%, respectively. It appears that increasing technological advancements are prompting companies to prioritise placing themselves in locations that facilitate innovation, and London is still seen as the best environment in which this can be achieved.
According to Christopher Hayward, chairman of the planning and transportation committee at the City of London Corporation, “The businesses said we are ‘the’ global city for innovation and technology, and one of the key reasons for that is the global talent pool that we have… We’ve seen an explosion of technology businesses coming in from the Spitalfields extremities the City. What we need to do, and what we are doing, is anticipate the needs of these businesses, whether it’s flexible floorplates, buildings with flexible design or high-quality public realm. My view is that is a big vote of confidence the report shows business say they have confidence in London.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.