City of London planning to fast-track applications to convert unused older offices for new purposes such as hotels.

Paul Jayson, Partner at global law firm DLA Piper commenting on news today about the City of London planning to fast-track applications to convert unused older offices for new purposes such as hotels stated that, "The rise of hybrid working has fundamentally changed the dynamics of office spaces, with employees having more control over their presence in the workplace. With projected demand for high quality office space projected to grow over the next decade and with fierce competition for environmentally friendly spaces, owners of offices which do not meet minimum energy efficiency standards may consider retrofitting their buildings to raise their sustainability credentials.

 “This would involve incorporating ESG principles, upgraded power infrastructure and reconfiguration to accommodate flexible working, whilst remaining compliant with planning regulations. For many buildings, this may prove to be too costly and owners may seek to repurpose older buildings for other uses such as hotels which would still align with the City's ambitions to remain a renowned business centre.”