News and Views

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 challenge. 

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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