THE NEW government must not 'level down London', in a bid to reshape the country's economic geography, one of Britain's leading property bosses warned yesterday.

Simon Carter (pictured), the boss of FTSE 100-listed British Land, told an audience in the City yesterday that the capital has huge "agglomeration benefits" and that any attempt to revive Boris Johnson's flagship levelling-up agenda should not take focus away from the capital.

British Land recently signed one of the largest leasing deals in the Square Mile since the pandemic with law firm Allen & Overy for space at their new Broadgate Campus development.

While speaking at a joint FTI Consulting and City A.M.

event, Carter, who called the Elizabeth Line a "game-changer for the City", described a "flight to quality" in office leasing, with businesses choosing to invest in a higher standard of office even if they are reducing their overall footprint.

Last year was the company's most successful for London office leasing in a decade.

(c) 2022 City A.M., source Newspaper