There are always winners and losers at any stage of the market cycle. Recent headlines have been full of government department spending cuts to meet chancellor George Osborne’s deficit reduction target.
That some departments located in central London might relocate to cheaper offices in Greater London – or even outside London – is something that gets talked about at least once a cycle, but with changing rules about the rents these departments pay acting as leverage, these moves might actually become a reality. What is central London’s loss could potentially be Croydon’s gain, or Stratford’s or Wembley’s, but which is best placed to capitalise?
Waterloo has long been a loser in the regeneration game. King’s Cross has been transformed and is now a benchmark for success. Paddington arrived as an office location and then stalled, but Crossrail might put it back on the map again. London Bridge’s rise has been cemented by the Shard’s silhouette on the skyline, but Waterloo? Well, despite its credentials of riverside location and transport links it just hasn’t realised its potential – but that might finally be about to change.
