’There continues to be nervousness and uncertainty in the development world post Brexit. The greatest challenge is not a willingness to seek and develop new opportunities but accessing affordable funding for speculative development. The decision by AXA to progress 22 Bishopsgate is significant given it is a speculative building (i.e. doesn’t have a prelet to an occupier) and perhaps it will provide other financiers with confidence to release more funds to stimulate speculative development.
’As a practice we continue to see projects, including speculative ones, being designed up-to planning and this seems to be the main source of architects workload in the short term but the challenge is whether (or not) these projects will make it onto site in the medium term.
’As significant, if not more, is the decision by Apple to locate its European HQ in London; it demonstrates that there is real confidence and optimism in a post Brexit UK. Whilst we know the future is uncertain and the journey will be bumpy we must embrace the optimism that the AXA and Apple decisions provide and use it as a catalyst for bigger and better ideas. This is where the future workload lies.’back to news