How can London remain one of the world’s most attractive places to do business while delivering the high-quality, sustainable office space needed to support its future growth?

This question framed an NLA roundtable held in collaboration with the Greater London Authority (GLA), hosted at Landsec’s Timber Square development, with Howard Dawber, Deputy Mayor for Business and Growth, joining as guest speaker. Bringing together representatives from across the public and private sectors, the discussion explored the challenges and opportunities facing London’s office market, considering how planning policy, development viability, changing occupier expectations and investment in infrastructure are shaping the capital’s ability to compete internationally.

Representatives included:
- Catherine Staniland, Chief Impact Officer at NLA (Chair)
- Howard Dawber, Deputy Mayor for Business and Growth at Greater London Authority
- Maria Diaz-Palomares, Principal Policy Officer at Greater London Authority
- Gerard Burgess, Senior Strategic Planner – London Plan at Greater London Authority
- Oliver Knight, Head of Workplace at Landsec
- Mike Meadows, Head of Planning at British Land
- Tarun Mathur, Director – Office Leasing at Canary Wharf Group
- Laura Fernie, Head of Commercial Offices at Places for London
- Dan Scanlon, President – UK Office at BGRE
- Charles Owen, Head of Asset Management – Regent Street Urban at The Crown Estate
- Chris Valentine, Head of Strategic Clients, Central London and Science & Innovation Agency at JLL
- Peter Wilson, Assistant Director – Development Management, City of London Corporation
- Debbie Jackson, Executive Director – Regeneration, Economy and Planning at Westminster City Council
- Andrew Triggs, Principal Planner at Camden Council
- Andrew O’Neill, Design Director at Kier Group
- Duncan Swinhoe, Regional Managing Principal at Gensler
- Paul Monaghan, Executive Director and Head of Design at Allford Hall Monaghan Morris

Held under the Chatham House Rule, the roundtable encouraged an open exchange of views against a backdrop of economic uncertainty, rising development costs and changing patterns of demand. A central theme was the contrast between continued demand for high-quality, well-connected office space and the increasing difficulty of bringing new development forward. Financial and professional services remain important occupiers, alongside emerging sectors such as technology and artificial intelligence. However, businesses are becoming more selective, placing greater emphasis on building quality, transport connectivity, amenities and the wider workplace experience. This is creating a growing distinction between desirable Grade A offices and older buildings that may struggle to meet contemporary expectations.

Delivering new, high-quality space has also become significantly more expensive. Construction inflation, higher financing costs and changes in investment yields are placing pressure on development viability, making schemes that might previously have been deliverable increasingly difficult to justify. This creates a fundamental tension for London: the capital needs a continued pipeline of modern, sustainable workspace to retain its international position, but the economic conditions required to deliver it are becoming more challenging.

The discussion considered London’s competitiveness within an increasingly global market, recognising that businesses have greater choice over where to locate and expand. Attracting emerging industries, international investment and skilled workers will depend on more than the availability of office space. Housing affordability, access to talent, reliable transport and the quality of the public realm all contribute to the appeal of a business location. The Elizabeth line has transformed perceptions of accessibility across parts of London, while potential improvements such as the Bakerloo line extension and West London Orbital could help unlock further areas for employment growth and support a more geographically balanced economy.

Planning policy and development viability emerged as closely connected challenges. Participants explored how the London Plan and borough-level policies can support growth while securing wider public benefits, including affordable workspace. There was recognition of the importance of supporting start-ups, smaller businesses and a more diverse economy, but also discussion about whether uniform requirements can always deliver the intended outcomes. The costs of discounted rents, service charges, management arrangements and long-term operation can vary considerably between buildings and locations. A more flexible, locally informed approach could help identify where on-site provision is viable and where alternative models may deliver meaningful benefits. Greater clarity and coordination between the GLA, boroughs and developers will be important in translating policy ambitions into deliverable schemes.

The future of London’s existing office stock presents another significant challenge. As sustainability requirements and occupier expectations evolve, retrofit offers an opportunity to improve building performance while retaining the embodied carbon within existing structures. However, upgrading older buildings is not always straightforward. Structural limitations, heritage considerations, energy performance requirements and the cost of works can all affect whether refurbishment is technically and financially feasible. A building-specific approach is therefore essential, supported by better information about the performance of the existing stock and a clearer understanding of where retrofit, more substantial intervention or alternative uses may be appropriate.

The discussion also highlighted that energy performance is only one part of what makes an office suitable for contemporary occupiers. High-quality amenities, adaptable layouts and environments that support wellbeing and productivity are increasingly important. Bringing older buildings up to these standards can require substantial investment, reinforcing the need to consider environmental performance alongside the wider commercial and functional value of each asset. Retrofit and new development should not be viewed as competing objectives; both will be needed to create a resilient and sustainable office market.

Beyond the immediate challenge of office delivery, participants considered how changing patterns of demand could create opportunities to rethink existing buildings and the role of different parts of the capital. Some older offices may require extensive intervention to remain competitive, while others could be adapted for alternative uses. The discussion also considered the relationship between offices and other uses, including hotels and data centres, and the importance of carefully assessing competing demands for scarce, well-connected sites that could support employment growth.

Looking beyond established commercial centres, areas such as Stratford, Tottenham and Wembley offer opportunities to connect new employment activity with investment in transport, public realm and neighbourhood infrastructure. Successful place-making will be essential to this approach. The quality of streets, public spaces, amenities and surrounding neighbourhoods can influence whether a location attracts businesses and workers, making office policy inseparable from wider planning and regeneration strategies.

The roundtable also explored the wider conditions needed to support London’s growth, including skills, training and infrastructure. The construction sector faces workforce challenges, while the transition to more sustainable buildings requires evolving expertise across design, engineering, retrofit and building management. Stronger links between industry, colleges and training providers could help develop the skills needed to deliver London’s development and environmental ambitions. Meanwhile, improved transport connectivity can open up new employment locations, broaden access to opportunity and strengthen connections between established centres and emerging districts.

Ultimately, the discussion recognised that the challenges facing London’s office market cannot be resolved by any single organisation or policy intervention. Earlier engagement between public and private partners, more flexible and evidence-led planning, and a clearer understanding of the economic conditions needed to deliver high-quality development will all be important. There is also an opportunity to learn from successful local examples, test different approaches and share lessons across the capital.

London’s office market is central to its wider economic prospects. Maintaining its competitiveness will require a balance between ambition and deliverability: raising the quality and sustainability of buildings, supporting affordable opportunities for businesses and creating successful places, while ensuring that development remains viable and investment continues to flow. Through stronger collaboration between government and industry, London can work towards an office market that responds to changing industries and working patterns while supporting a more sustainable, inclusive and prosperous city.