Lambeth set to foster future industries through London’s biggest office space expansion
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Credit: ByWater Properties
Lambeth is set for London’s biggest increase in office space over the next decade with an estimated six million square foot of extra space for business set to be created. Our newly commissioned report provides more detail on how this will support the borough’s growth priorities and why the borough is fit for the future of work.
Our report ‘Lambeth: The Future of Sustainable Work’ sets out how expansion supports the council’s bold ambitions to foster well paid jobs in growth sectors for the borough’s young people, to achieve its Net Zero by 2030 outcome and to create an environment for local entrepreneurs to flourish.
Existing and start-up businesses in the life sciences sector, the low carbon economy and creative and digital industries are already gravitating to Lambeth, particularly around the borough’s dynamic and aspirational neighbourhoods of Brixton, Waterloo/South Bank and Vauxhall/Nine-Elms.
The expansion of office space is set to support further growth in these areas by creating new office and working spaces that are flexible, support collaboration, meets high sustainability standards and enables a strong focus on the health and wellbeing of all workers.
The driver of this growth in Lambeth, as highlighted in the report, is that the borough is incredibly well connected with excellent transport links, has a diverse, ambitious population and a creative streak that shines in the emerging tech industries which are set to provide future proof, well paid jobs, long into the future.
However at present, the report found, Lambeth only has a three per cent share of London’s total office space, and that much of this is aging meaning it no longer suits changing ways or working or meets the borough’s ambitious climate objectives, including achieving Net Zero by 2030. Further the amount of office space in the borough has fallen over the last decade.
Cllr Danny Adilypour, Cabinet Member for Sustainable Growth and New Homes, said: “Lambeth is set to unlock its potential over the next decade with huge potential for the expansion of office space that will put this borough in a position that means it is fit for the future.
“Our borough profile, our diverse population, our location and our huge as yet unmet potential means that businesses providing the kind of well paid, future proof jobs we are seeking for our residents are set to increase significantly.
“Lambeth has long been a globally recognised cultural centre for London that is much loved by its residents as well as across London and beyond. It is now evolving to also be a destination for world-class sustainable workspaces.
“As a council will continue to work together with developers, occupiers and key stakeholders to deliver offices that meet our Net Zero ambitions as well as making Lambeth the destination for businesses whose mission and values centre on sustainability and delivering benefits for our communities.”