London is seeing major AI office signings, with global powerhouses such as OpenAI and Anthropic announcing significant leasing commitments in recent months. Mike Wiseman, head of campuses at British Land, states that these businesses are effectively betting on London before their recruitment plans or revenue have fully caught up.
British Land is currently tracking 2.5m sq ft of active requirements from AI and innovation-led companies across London. This demand spans from established global firms to high-growth start-ups like Humanoid.
Wiseman suggests that the property market often indicates future growth before official job numbers or growth figures are released. He draws a parallel to the period after the Brexit vote, when financial services continued to commit capital and sign leases in London despite initial predictions of a decline.
The current strength of London's real estate market is described as the strongest it has been in the past 15 years. Businesses are investing in space and talent in the capital to catalyse their growth, which Wiseman interprets as a signal of confidence.