Real Estate

Unused City offices could soon become hotels and galleries

The Square Mile's governing body wants to be quicker to react to financial pressures and a shift in work patterns

While demand for prime space will continue, planning committee chair predicts need to act fast on 'stranded assets'
While demand for prime space will continue, planning committee chair predicts need to act fast on 'stranded assets' Photo: Pietro Recchia/Getty Images

The City of London is on a mission to turn offices left dormant after the pandemic into hotels, galleries and more.

The City of London Corporation’s planning and transportation committee chair Shravan Joshi told the Financial Times that amid a drive towards hybrid working and greater sustainability, some of the Square Mile’s offices were at risk of becoming "stranded assets".

WSJ Logo