Necessity is the mother of invention – or in this case, reinvention. Many a conversation in 2020 and 2021 revolved around the future of the Docklands hub, which seemed to be at risk from our brave new world of hybrid working.
Walking round the Wharf today, though, and it’s obvious that what may once have seemed a death sentence has been almost the opposite. Rather than a ghost-town, the district now has the best of both worlds: a thriving financial services population combined with a growing audience of visitors for retail, leisure and hospitality.
Could it have happened without the long-term backing of investors Brookfield and the Qataris? Probably not.
Investors with shorter-term horizons would surely have bailed out when the future looked bleakest. But, having stuck around, they may soon reap the benefits.
The Morgan Stanley call to stick around is a testament to the strides the district has taken and it will not be the last headline-grabber: life sciences, London’s newest boom industry, will soon be centred around the Isle of Dogs.
The City, too, has reinvented itself. Our reporters, working weekends, see a far busier Square Mile on Saturdays and Sundays than ever before. Licensing laws have been relaxed and magnets like The Ned and The Wolseley become more powerful by the weekend.
None of this should obscure the fact that hospitality in particular has its troubles, post-Brexit staffing being the most obvious.
But congratulations should be in store for those who stuck the course. Our thriving financial districts are testament to the value of reinvention.