If you thought London’s status as a global safe haven would diminish in the wake of BREXIT, think again. The UK’s capital remains robust and continues to attract businesses and top talent a quality that is reassuring for the relocation market.
If you needed further peace-of-mind that London’s stronghold in the employments, property and cultural sectors remains string, the recent Colliers International ‘Cities of Influence’ report – issued in February 2017 – makes for compelling reading. London’s ability to hold on to professional talent was cited as a key redeeming feature, allowing the city to edge out Paris and claim top spot in Colliers’ ‘TLC’ index – a list of 20 major individual economic cities that are ranked in terms of talent, location and cost.
The ‘Cities of Influence’ report – compiled by one of the world’s largest commercial real estate specialists – also concluded that the mass exodus of businesses relocating away from London following the EU referendum simply hasn’t happened. Damian Harrington, director head of EMEA research at Colliers International, was quoted as saying: “London may be one of the most expensive cities from a real estate standpoint but when taking all factors into consideration, and the ability of the city to re-invent and evolve, it is superior to all other major European cities in this study,”.
The report also went on to discuss the importance of the UK”s more relaxed labour laws, which add a better layer of appeal to relocating companies and individuals. Harrington concluded: “With Trumps latest immigration policy, this could be even more reason for talent to move to London. The ability to hold on to its workforce and continue developing its talent base will be critical to ensure the UK’s capital remains a primary attractor of corporate activity.”
With Apple, Snapchat, Google, Facebook and IBM have all given their endorsement to the future of London by opening new offices or enlarging their workforces, and Hong Kong-based firm CC Land Holdings Ltd agreeing to purchase the Leadenhall Building in the City – also known as the ‘cheesegrater’ – in March 2017, worldwide businesses are showing their confidence in the employment and office-space sectors London.
The future looks bright. The future looks like London.