INDUSTRY NEWS

The Shard & The Place London offices ‘worth £2.5 billion’ – owner

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The owner of the London offices, The Shard and The Place, has estimated that the new developments could be worth as much as £2.5 billion together once fully leased, according to an article published by Bloomberg Businessweek.

Irvine Sellar, chairman of Sellar Property Group Limited, previously revealed that the company were in serious talks with three potential tenants for The Shard – which it owns five per cent of, with Qatar Central Bank owning the remaining 95 per cent.

Sellar stated that the company were not concerned about the lack of tenants secured for the buildings.

He said: “We’re certainly not in a position of being put under pressure to take shortcuts to get this space occupied.” He also added that the company was in talks to lease “well in excess of 100,000 square feet.” The retail space at the building has already been leased out.

The Shard is officially set to open tomorrow (July 5).

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.

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