Landlord CLS sees Londoners lag Europe in returning to offices
People are returning to offices less in London compared with other European cities, according to figures from a landlord with a number of buildings in the capital.
FTSE 250 offices firm CLS, which leases space to a number of companies in different sectors as well as UK government departments, was among landlords that saw buildings become much emptier when lockdown started.
Chief executive Fredrik Widlund said staff have started to return to offices, but his firm has seen occupancy vary between countries.
In London, where CLS has 35 buildings, occupancy levels are about 15-20% at its sites. In its properties in German cities the figure is closer to 50%, and in Paris it is between 40% and 50%. Many Londoners rely on public transport which makes the return more tricky.
Widlund predicts a gradual improvement in occupancy from September here when schools reopen. He said: “The long-term prospects for the UK remain strong.”
First half net rental income rose 5% to £56.5 million.
It recorded a 62.8% fall in pre-tax profits to £31.5 million. It saw smaller rises in property values than in previous years.
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