London Rising High
In spite of the many challenges presented to the London
office space property market in 2016, not least Brexit and the US presidential
vote, a recent report
suggests that London will continue to rise to the
Confidence certainly appears to be high amongst developers
and agency professionals; as amply demonstrated by the number of new “skyscraper”
buildings that were approved at the end of 2016, with many more new
developments expected to follow.
70 new schemes are planned to add to the already existing 120
buildings in the capital that stand at over 100 metres in height. Amongst these
are Brookfield’s 1 Leadenhall, EC3 which recently won approval from the City
planning department, 1 Undershaft and 1 Blackfriars.
Construction is also underway on 22 Bishopsgate, EC2, which
will be the tallest building in the City of London. This brings the total of
office space under construction to 8.8million sq ft. Given that the total of
office space across central London is 14.8m sq ft, this shows that the scale of
the developments that are underway is almost unprecedented.
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