London has a long and distinguished history as one of the leading cities in a variety of service industries. With over 4.3m people employed, London boasts the fifth largest urban economy worldwide.
One of the world’s most crucial financial hubs, London is an essential component in the global financial system. Financial services account for 12% of Britain’s total economic output and pay more in tax than any other industry. Represented by over 250 global banks, as well as around a third of all Fortune 500 companies, London is the world leading insurance and reinsurance market. In addition, they are the only city globally where all the top 20 insurance firms are active.
In addition, creative and technology sectors are rapidly growing in importance in London, turning the city into a hub for hi-tech industries. With areas such as the City Fringe, Aldgate, and the Silicon Roundabout in Shoreditch becoming massively successful hubs for both start-ups and established technology companies. In addition, many global technology companies such as Google, Facebook, Apple, and Snap have chosen to base their European offices in London, once again highlighting the importance of London as a creative and technology hub. Indeed, the growth in digital jobs is anticipated to outstrip all other sectors by 2020.
Having been based in Central London since 1962 we have seen many changes within the London property market. We are certain that London will continue to go from strength to strength, despite the uncertainty caused as a result of Brexit and the fluctuations in the value of the pound. For more information on our prime investment properties in London, take a look at our investment page. In addition, if you are looking to make this thriving global city the home of your business, take a look at our portfolio of prime Central London Commercial Space to let.