B E R ES FO R D S M A G A Z I N E
THE LONDON OFFICE
TLO - THE LONDON OFFICE ‘POST LOCKDOWN’ FROM LONDON TO ESSEX. CAPITAL INVESTMENT Undoubtedly a world centre of culture, commerce and communication, London is a beacon of not only the UK economy, but the world economy. And while the capital is unlikely to lose its status as a global powerhouse, the way we all do business is set to change forever after Covid-19. Zoom fatigue and a longing to enjoy the creative working environment that comes only from people connecting in person means that large corporate offices are unlikely to be consigned to history. Nevertheless, the acceptance of the latest telecommunication opportunities have without question accelerated forward at a greater pace than anyone could have expected. So what will we do with these new opportunities? HSBC has made projections that it will be cutting its global office space by up to 40%, while law firm Baker McKenzie expects to reduce its office requirements by about 20,000sq ft. And these are far from isolated examples. With a rise in remote working there has been an increasing demand for larger properties that offer plenty of space, but still have good connections to London - and that means Essex. During 2020, London leavers bought 73,950 homes outside of the capital, the highest figure for four years, and that includes a seven-week window when the housing market was closed due to Covid-19. Marketing clients’ properties to London and international buyers is of paramount importance to Beresfords, which is why we are part
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