Mayor of London Boris Johnson has announced that he will be aiming to protect specific business areas from being turned into new residential spaces.
Current proposals by the UK government may see sectors of commercial property turned into homes without any planning permission needed.
Boris Johnson is currently trying to seek exemption for three specific areas in the centre of London. These include the northern region of the Isle of Dogs, part of the City Fringe in the east and the Central Activities Zone which spans across the South Bank, the West End and the City of London itself.
The latter is home to more than a third of the jobs available in the capital city, whilst it is estimated that another 280,000 jobs will be created there in the next two decades.
Mr Johnson said in a statement: “London is a colossal powerhouse of jobs and growth, not only for the UK but of international significance. Its success depends on a rich mix of uses and the high value of residential property in central London could upset this and change the area for good.
So it is absolutely vital we can plan for these key areas so we continue to attract investment and businesses, maintaining London's status as a global commercial hub.”
London itself is responsible for producing a fifth of the UK’s GDP and so ministers hope that the commercial property sector is maintained in order to attract more jobs and further growth in this tough economic climate.
Whilst Mr Johnson recognises the importance of housing in London and has in the past promoted the idea of renovating derelict offices into new homes, he believes that offices that have vital purposes may be susceptible to a widespread cull.
Currently, office space cannot be turned into homes without planning permission from the council, but this regulation may change under new government proposals.