London and New York will remain untouchable as the world’s top two leading cities, delegates heard at LREF.
Peter Victor, head of Cushman & Wakefield’s international desk, said the two “symbiotic” global hubs had grown to a point where they could no longer be considered anything but world leaders. He added that they were so far ahead the next top 10 biggest global cities that the pair had become untouchable.
Talk on the London/New York panel then turned to the cities’ changing living and work offerings.
Patrick Nelson, WeWork’s European head of real estate said the company’s new model or working was being equally well received in both cities. The group currently has 31 outposts in the Big Apple and 10 in the UK capital.
He said: “In both cities we are 100% full almost as soon as we launch new buildings. We have waiting lists. This is because the way people live and work and that desire for a work/play lifestyle is so strong. We are like a mix between Facebook and LinkedIn. The offices are like a Facebook on Friday and then a LinkedIn on Monday and Tuesday.
“As for London v New York? All I would say is that New York attracts all the most ambitious, brightest people in America and London attracts the most ambitious, brightest people in Europe. So we want to be growing on both.”
He would not be drawn on whether WeWork is seriously looking at housing saying only that two projects – one in New York and one in Washington DC are still in “beta phase”.
But Marc Vlessing, founder and chief executive of Pocket Living, said that the starter homes company was looking into the WeWork model with a view to potentially moving into office as well as living spaces.
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