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The Boston Consulting Group has expanded its major London offices by more than 30%, increasing the indication of hope for in-person labor, the latest company, office space and the UK capital’s illness commercial real estate market.
The US consulting firm told Financial Times that it had added a 1.5 floor to its Fitzrovia site, previously occupying the fourth floor. People’s work and plans for growth in the UK.
The expansion includes one new floor and half of the floors that were already leased but previously unused, and is now filled with plant-based and cafe-style work spaces.
BCG is the latest company to expand office space since the pandemic when working from home. According to Savills figures, investments in London offices in 2024 fell by 58% on the long-term average.
The management consulting firm employs 32,000 people in more than 100 offices around the world, of which around 2,000 are in the UK, steadily prioritizing in-person labor. According to people familiar with policy, consulting staff based in London, Amsterdam and Brussels have been told since 2023 to work from the office or client’s site four days a week since 2023.
Other large companies have also expanded their London office presence in recent years.
Last year, Deloitte acquired about 70,000 square feet of extra space. This has seen an almost five-fifth increase after closing two buildings due to the pandemic. So far, Deloitte has maintained its stance that allows for fully flexible work in the UK.
US Bank JP Morgan Chase is in talks to lease a portion of Credit Suisse’s former UK headquarters in Canary Wharf, seeking full-time office returns starting in March.
HSBC is considering additional space beyond the building it leased near St. Paul, just over half the size of the Canary Wharf tower that will be leaving in 2026.
Faced with increasingly empty office buildings, some businesses have ordered their employees to return to their offices. The PWC told employees in September that they would monitor compliance with the new three-day office policy as they are considering options when the lease ends on the lease.
Jessica Flame, managing partner at BCG’s London office, said the expansion will “enable our large teams and focus on face-to-face work for both consulting and non-meeting teams. It reflects that.”
“London is Europe’s largest office and we appreciate how best to plan future growth in the UK,” she added.
BCG, which has yet to disclose its revenue for 2024, said its growth last year was “double digits” and the same is expected this year.
