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Wealth and asset managers commit to
St Paul's hub

Earlier this year close to 300,000 sq ft of new office space was acquired by wealth and asset managers within the City Core within a five-week period

October 31, 2019

Numis, Bewin Dolphin and Quilter all agreed pre-leases, at Gresham St Paul's, 25 Cannon Street, and Senator, EC4 respectively, in new repositioned buildings near to St Paul’s Cathedral. 

These latest transactions along with current active requirements have consolidated the area’s credentials as the hub for wealth and asset management occupiers following earlier arrivals.

 

We have identified further central London demand from this sector and understand that requirements from these occupiers currently total 730,000 sq ft with more than 20 occupiers understood to be seeking new space. These include Amundi, JP Morgan, Capital Group and Aberdeen Standard Investments and it is likely that a number of them will gravitate towards the St Paul’s cluster to benefit from both the proximity to their peers and the excellent amenities that the location offers. AXA Investment Managers is also relocating its two London office locations (7 Newgate Street and 155 Bishopsgate) to Twentytwo, a new London workplace development at 22 Bishopsgate to take advantage of Europe's first 'vertical village'.

Wealth and asset managers represent a significant segment of the financial sector and underscore its continued confidence in and commitment to the City of London, despite current political and economic uncertainty. These relocations are being driven by a number of factors including the need of modern occupiers to create the right environment for their staff and business to thrive, organic expansion, increasing use of technology/ growth of online platforms, and simply enabling change within their organisations.

The evolving City continues to have far reaching appeal to all occupier sectors across Central London. The quality and diversity of product, accessibility, competitive overall outgoings and ever improving F&B offering meets with corporate real estate trends.

These occupiers represent a significant segment of the financial sector and underscore its continued confidence in and commitment to the City of London. A number of factors have driven these relocations, including creating the right environment for their staff and business to thrive, organic expansion, increasing use of technology and simply enabling change within their organisations.

The quality and diversity of product, accessibility, and ever improving food & beverage offering means the evolving city continues to appeal to all occupier sectors.”

Jeremy Attfield, Lead Director, Central London Markets