For a long time I have queried whether providing modern grade-A space throughout London is what is required for all our occupiers, and particularly for smaller occupiers coming to the City.
The City of London Corporation, with the City Property Association, commissioned research launched this year at MIPIM on “Clusters and connectivity: the City as a place for SMEs”. Its findings were significant and built on last year’s research into new ways of working.
Many people’s perception is that London is dominated by major companies and their significance is recognised. However, of the 16,500 firms in London, 98.6% have fewer than 250 employees and they employ more than half of the workforce. Many SMEs prefer secondary space.
There has been a 45% growth in jobs in technology, media and telecoms since 2010 and there are 800-1,000 start-ups formed in the City each year. They value the location because of its ability to attract talent, its connectivity, its proximity to clients, and – music to a planner’s ears – the City’s public realm, amenities and heritage. However, they were concerned that:
• the City remains cost-competitive;
• there was a growing shortage of space, particularly for small occupiers;
• the digital infrastructure needed to improve;
• the image of the City was too corporate.
They valued the public realm and amenities and places to meet, particularly as they are less able to provide them internally than large occupiers.
One of the issues raised was the predominance of chain retailers. The City as a planning authority can only do so much on occupation but would encourage owners and occupiers to see what can be done to encourage independent retailers, markets and street-food traders to provide facilities enjoyed elsewhere in London.
The scale of the buildings, their profile and the numbers working in them make it inevitable that the security measures required are intensive and we work closely with the police and others. Much of this can be incorporated into the design of the buildings and landscaping, but some of it will require wider vehicle management.
The demands of occupiers in the City are changing. It is interesting to see the below-ground requirements of 22 Bishopsgate, EC1. A servicing core, parking for people with disabilities only, and more than 2,000 cycle spaces.
Over the past few years more than 30,000 off-street cycle parking spaces have been negotiated in new developments. When we were first negotiating significant cycle spaces and showers in schemes we were treated as barmy, with cries of “they will never be used”, but now there are not enough and companies are demanding them with high-quality entrances that are not shared with the service entrance.
One of the UN’s sustainable development goals, which we have adopted, is to “make cities and human settlements safe, inclusive, resilient and sustainable” and providing a framework for diverse cities across the world, its applicability to the City’s future could not be greater.
This will be critical to the success of the future of London in 25 years’ time and we look forward to working with our partners to ensure the City continues to thrive.
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This is an extract from the Honor Chapman Memorial Lecture, given by Annie Hampson, chief planning officer for the City of London, on 21 April
