Recent research into the banking services in London has revealed that it can be expected that a further 1.6 m sq ft of office space in central London will be required over the next three years as confidence returns to economy.
The equivalent size of four Shards or five Heron Towers would be needed to accommodate an extra 11,500 employees by the end of 2013.
The financial services sector accounts for a large section of office space and 36% of total take-up in the city can be attributed to the finacial services indusrty, up from 22% in 2008.
A number of significant deals last year were down to financial firms including UBS's 700,000 sq ft prelet at 6 Broadgate and Macquarie's deal to take 212,000 sq ft at Ropemaker both in EC2.
However, the research suggests that there are obstacles facing the growth of banking services in London which may ultimately hinder London's reputation as one of the most important global financial centres. The much hyped higher taxes on bankers and the ever increasing government involvement and regulation may in due course cause more difficulties for the banking sector.