INDUSTRY NEWS

London office space expanding

Construction of office space in London has doubled over the last six months to 2.8m sq ft with five new starts recorded, the first new activity in 18 months.

This will come as welcome news to both the construction and real estate industry, and indicates a recovery in the Capitals economy.

The much talked about City towers are responsible for the majority of the impending space (80% of all space being built in the City) with 20 Fenchurch Street, The Pinnacle and The Leadenhall Building all scheduled for delivery 2014.

Outside the City and West End, developers of offices in Midtown London have also been busy with six new starts – tripling construction activity in just six months with just over 600,000 sq ft under construction.

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