London office development shifts toward building reuse

Commercial development in London is undergoing a structural shift toward building reuse and adaptive retrofit. Data from the Deloitte London Office Crane Survey indicates that refurbishment has overtaken new construction in terms of office-development starts.

In 2021, refurbishment accounted for approximately 54 per cent of new office-development starts in central London by floorspace, compared to 46 per cent for new builds. By 2025, the refurbishment share rose to 66 per cent. Recent observations show that in the City of London, almost twice as much office floorspace is starting on site through reuse as through new build.

This trend toward a circular built environment involves moving away from virgin materials and toward the use of reclaimed and regenerative materials. Industry forecasts suggest that refurbishment projects could account for 65 per cent of all new activity by 2030. Even among the largest office developments scheduled for 2025, the majority are refurbishments rather than new-build projects.