Will the 2012 Olympics change the office market?
Jones Lang LaSalle report delves into the effect of the 2012 Olympics on London office sustainability and regeneration
Commercial real estate specialists Jones Lang LaSalle have researched the potential effects of the 2012 London Olympics on regeneration and sustainability in a research paper. The infrastructure of the city will undergo dramatic changes as the world’s focus shifts to East London to watch the historical sporting event. But what does this mean for the office market in London and the surrounding areas, such as the Docklands?
Katie Kopec of Jones Lang LaSalle’s Development and Asset Strategy team commented on the changes to be expected, “International sporting events have been used to catalyse major regeneration and infrastructure projects and none more so than the Olympic Games. The Games generate the momentum through a set deadline to redefine urban landscapes and drive innovation.”
From Kopec’s perspective the games will encourage sustainable office and business developments in the real estate sector. The reuse of venues and improvement of transportation will affect the viability of new office builds in the capital.
Jones Lang LaSalle also released research into three key areas: Innovation, Demonstration and Leadership which they suggest as strategies developers could implement in order to create sustainable developments.
