Insights
AI-generated briefing · ranked by priority
Building Footfall Up 163% in Two Years
Weekly occupancy has grown from 3,578 (2024) to 9,427 (2026).
The building is on a sustained growth trajectory. Year-on-year weekly average grew 74% from 2024 to 2025, then 51% from 2025 to 2026. Growth is decelerating but remains strong, suggesting the building is approaching its operational sweet spot.
Monitor capacity constraints as occupancy approaches peak. Consider whether reception, lift, and amenity infrastructure can sustain continued growth.
Tuesday-Thursday Carries 74.8% of Weekly Footfall
Core days average 2673 staff vs Friday at 850 and Monday at 1798.
Friday contributes just 8.4% of footfall but incurs 20% of weekly operating costs. The cost-per-head on Friday is 2.4x the core day average. Monday underperforms at 32.7% below the Tue-Thu average. The building effectively operates as a 3-day asset.
Model reduced Friday services (partial floor closures, reduced catering, flexible security deployment). Explore 4-day pass products for tenants with low Friday presence.
Single-Tenant Concentration Risk: CFC at 19.4%
CFC (Levels 10-15) accounts for nearly one-fifth of all building footfall.
Top 3 tenants (CFC, HFW, SCOR) represent 40.1% of total occupancy. Top 5 reach 56.3%. The HHI is 877, which is moderate at the building level but CFC alone at 19.4% creates material exposure. CFC also has the highest volatility (CV 56%) among major tenants and operates a three-day pattern with only 12.4% Friday retention.
Develop tenant diversification strategy. Monitor CFC lease terms and renewal signals. Model impact of CFC exit on building economics.
Thursday is Meeting Day: 2.2x Monday Guest Volume
Average 528 guests on Thursdays vs 236 on Mondays.
Guest-to-staff ratio peaks at 20.1% on Thursdays. The Access Group drives the most external visitors with a 95% guest-to-staff ratio, effectively running their space as a client hub. Huckletree and CFC are the other major guest generators. This pattern has direct implications for lift capacity, reception staffing, and catering demand.
Right-size Thursday reception and security staffing. Ensure lift scheduling accounts for guest badge processing. Consider visitor management system improvements.
The Access Group: 95% Guest-to-Staff Ratio
For every employee, there is nearly one external visitor. 4,119 guests YTD.
This tenant is not using their space as a traditional office. The 95% guest ratio suggests a showroom, events space, or client-facing operation. Bentley Systems (74%) and Stanhope (56%) show similar patterns. These tenants consume disproportionate shared resources (lobby, lifts, reception) relative to their desk count.
Consider whether service charges reflect actual shared-resource consumption. Review visitor policies for high-guest tenants. Potentially introduce tiered visitor pricing.
Faegre Drinker: 24% Desk Utilisation (Ghost Floor)
Peak capacity of 165, but core-day average is only 39 staff.
Faegre Drinker on Level 18 has the lowest utilisation of any tenant with meaningful space. Their trajectory is declining (-9.7% Jan to Mar). They also show the highest occupancy volatility (CV 63%) after Bentley Systems. This signals either a downsizing risk at lease renewal or potential subletting opportunity.
Flag for lease renewal risk monitoring. Explore subletting conversations. Watch for further decline in Q2.
Shinhan Bank & CLSA: Most Predictable Tenants
Shinhan Bank: 93% Friday retention, 17% CV. CLSA: 83% Friday retention, 18% CV.
These tenants represent genuine office-first cultures in a building dominated by hybrid patterns. Shinhan Bank shows up 5 days a week at near-identical levels (47-51 avg per day). CLSA is similarly consistent (55-68). For building operations, these tenants are the most reliable baseline occupancy.
Treat as anchor tenants for occupancy planning. Their floors require consistent 5-day servicing regardless of building-wide patterns.
Easter Week: 42% Occupancy Drop
Good Friday dropped to 71 staff. Easter Monday to 62. School holidays caused 31% decline.
The building is highly sensitive to holiday periods. Easter week saw a 42% drop from normal March levels. The school holiday fortnight (6-17 April) sustained a 31% decline. This reveals that roughly 40% of the building's daily occupancy is discretionary - people who come in by choice, not obligation.
Pre-plan reduced services for known holiday periods (Easter, half-terms, Christmas). Model annual service cost savings from holiday-responsive staffing.
Tenant Trajectories: Law Firms Growing, Small Finance Shrinking
TSB +19%, King & Spalding +18%, Proskauer +13% (Jan to Mar). First Abu Dhabi -11%, Pricoa -12%.
The building's growth is being driven by law firms and mid-size financial services. The decline is concentrated in smaller financial tenants. Bentley Systems shows the highest growth rate (+27%) but from a small base. This suggests the building is becoming increasingly attractive to legal sector occupiers.
Lean into legal sector positioning for any upcoming vacancies. Monitor declining tenants for early lease break or downsize signals.
CFC and SCOR Move Together (r=0.74)
Strong positive correlation between the building's two largest insurance/reinsurance tenants.
CFC (insurance, Levels 10-15) and SCOR (reinsurance, Levels 4-6) show strongly correlated daily occupancy. SCOR and Huckletree also correlate (r=0.71). This suggests shared market rhythms, possibly shared client visits or industry event calendars. If one of these tenants leaves, the other's behaviour may also shift.
Track correlation stability over time. A weakening correlation may signal changing business patterns. Consider joint tenant engagement strategies.
Weekend Badging Reveals True Building Commitment
CFC, SCOR, King & Spalding, HFW, and Proskauer Rose badge in on weekends.
CFC averages 3.0 staff/weekend day, SCOR 2.7, King & Spalding 2.6, HFW 2.4, Proskauer Rose 2.0. Weekend presence correlates with long-term tenant commitment. Tenants with zero weekend activity tend to have weaker building attachment and higher lease renewal risk.
Use weekend badging as a leading indicator of tenant engagement. Factor into lease renewal probability assessments.
Upper Floors (32+) Significantly Lighter Than Lower
Levels 10-15 (CFC) average 410 staff/day. Levels 32-44 combined average ~280.
The building's mass is concentrated in the lower-mid floors. Upper floors from Level 32 upward have significantly lower density. Pricoa (L32) averages 15, Stanhope (L33) 28, Bentley Systems (L43) 15. This creates an operational efficiency challenge as the building must service the full vertical stack regardless of density.
Consider whether upper-floor service levels can be adjusted. Evaluate lift scheduling to prioritise high-density zones during peak.