In London, which went through an unprecedented heat wave this summer, whether offices have air conditioners and other cooling systems has emerged as one of the most important conditions when signing a lease.
On the 17th (local time), the Financial Times (FT) in the United Kingdom reported, citing real estate agents, that "cooling systems are rapidly climbing to the top of tenants' 'must-have' lists."
Anthony Antoniou, chief executive officer (CEO) of London commercial real estate consultancy and brokerage Robert Irving Burns, said, "For many tenants, air conditioning has shifted from a 'nice-to-have' to a deal-breaker," adding, "In some parts of the West End in particular, the absence of air conditioning is a major obstacle to closing deals."
The United Kingdom is suffering a heat wave this summer, with daytime highs nearing 40 degrees Celsius. On the 13th, the daytime high in Kew Gardens in Richmond, west London, also climbed to 38.1 degrees. The Met Office expects this summer to be the hottest on record based on average temperatures.
Still, many offices in London lack air conditioners and other cooling systems. According to the Ministry of Housing, Communities and Local Government (MHCLG), in Westminster, which includes the West End and has many older buildings that have been converted, only about 7,134 buildings, or 61% of the total, have air conditioning. Even counting places with some form of "mechanical cooling," the figure is only 68%. The City of London, which has more buildings designed for office use, is in better shape, with full cooling systems in eight out of 10 offices.
As a result, disruptions to work due to the heat wave are becoming more frequent. Senior executives at global accounting and consulting firm Grant Thornton planned to hold an all-day strategy session this summer but had to stop and move to a cooler venue because they could not stand the stifling heat in the meeting room, FT said.
Harry Mills, a managing director at a foreign exchange management company, said that when the company moves to the City, London's financial district, after next year, "there must be 100% air conditioning," adding, "When we first moved here, we didn't even think about air conditioning, but now it's absolutely nonnegotiable."
Some are voicing concern about the indiscriminate spread of air conditioners. They say the refrigerants used in air conditioners worsen global warming, and rising temperatures could, in turn, spur more air conditioner use, creating a vicious cycle. Consulting firm Capgemini also flagged refrigerants as a concern in its 2023 sustainability report.