Read Westminster Property Association’s latest research which analyses the future of economic growth in Westminster, one of London’s most important business districts.
Produced in collaboration with Arup, Delivering Good Growth in Westminster explores three possible growth scenarios for the Central Activity Zone within Westminster – balanced growth, business as usual and checks on growth. The study analyses a range of indices, including the latest planning, employment and greenhouse emissions, and projects their performance up to 2045.
The report shows an 81% fall in major planning applications in Westminster since 2016 and a 3.7m sq ft loss of office floorspace since 2019. Should the Council adopt a ‘balanced growth’ approach however, it has the potential to deliver an additional 14m sq ft of commercial space alongside £31m per year more in GVA and £850m in additional S106 and CIL payments.
The paper has been commissioned to help inform the ongoing debate on how we can sustain the success of Westminster and ensure its future as an engine of growth, innovation and sustainable development for London and the wider UK. You can read coverage of its release in Property Week(£) and EG(£).
Read the full report
