Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

HSBC and Lloyd’s of London show differing opinions on the future of homeworking and large HQ buildings

by February 27, 2023
February 27, 2023
HSBC and Lloyd’s of London show differing opinions on the future of homeworking and large HQ buildings

HSBC’s and Lloyd’s rival plans for the futures of their London headquarters have revealed a growing split in attitudes towards the long-term prospects of working from home.

Lloyd’s of London is reportedly in talks to extend the lease on its iconic City headquarters as it works to bring staff back into the office in resisting the post-pandemic shift towards homeworking.

The insurance marketplace is in talks with its landlord to continue working out of its One Lime Street building, well after lease expires in 2031, the Sunday Telegraph first reported.

Lloyd’s previously said it was considering exiting its City headquarters due widespread uptake of remote working during the pandemic.

The world’s largest insurance marketplace later ruled out plans to cut its lease short, by using a break clause to end its contract with the property’s owner, Chinese insurer Ping An, in 2026.

Now, the City institution is in talks to extend its lease well beyond 2031, in a sign it has rejected the post-Covid trend for homeworking.

Lloyd’s is instead considering plans to revamp its ‘inside-out’ building with a view to opening its HQ up for events.

Lloyd’s chief executive John Neal has previously been vocal in supporting a return to the office, as the marketplace readies itself to hire 20,000 extra staff over the next four years.

HSBC, by contrast, is looking for new London offices that are half the size of the space it currently occupies in its Canary Wharf tower, the Sunday Times first reported.

The bank’s plans reveal a growing split among London’s top employers between those bullish on the future of in-person working and those confident in long term trends towards working from home.

HSBC is working with estate agent Cushman & Wakefield to find new London premises, as it prepares to exit its Docklands HQ when its lease expires in 2027.

The bank’s 8,000 London staff currently occupy 1.1m square foot of space in the bank’s 45 story tower at 8 Canada Square.

The bank is however looking to take up between 400,000 and 500,000 square foot in new London offices, as it seeks to cut its global real estate costs.

Read more:
HSBC and Lloyd’s of London show differing opinions on the future of homeworking and large HQ buildings

0
FacebookTwitterGoogle +Pinterest
previous post
CBI urges Jeremy Hunt to rethink tax grab at March budget
next post
Campaign for four-day week aims to sign up more firms after UK trial success

You may also like

Proposed development of Las Vegas-style Sphere in east...

January 9, 2024

Cambridge warns UK must scale up investment to...

May 27, 2025

Free-range egg rules could be scrapped to help...

December 29, 2022

Crowdfunding specialists appoint X Factor producer as new...

March 20, 2023

Extraordinarily low unemployment means labour shortages of very...

September 13, 2022

HMRC says small business are now responsible for...

June 23, 2023

UK government introduces AI training courses for civil...

August 31, 2024

UK economy set to contract as business confidence...

December 9, 2024

Companies going bust rises by a fifth compared...

March 15, 2024

Community staple chip shop serves its final portion...

April 12, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Claim Trump nixed top Musk ally from NASA post over Dem donations belied by ex-Dems on team

      June 6, 2025
    • House Budget chairman explains why there’s no ‘pork’ in Trump tax bill after Elon Musk attacks

      June 6, 2025
    • Silver’s Surge is No Fluke—Here’s the Strange Ratio Driving It

      June 6, 2025
    • Friday Feature: Incubate Debate

      June 6, 2025
    • Risch urges ‘top to bottom’ USAID spending review after waste, fraud exposed

      June 6, 2025
    • Universities in Libertarian Land

      June 6, 2025

    Categories

    • Business (8,149)
    • Investing (2,013)
    • Politics (15,547)
    • Stocks (3,131)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved