The demand for office space in London has dipped due to concerns over the Euro Zone according to a leading property developer.
According to a report from the news agency Reuters, Land Securities has revealed that many firms are putting-off the acquisition of commercial premises due to the uncertainty hanging over the fate of the troubled Euro.
The firm, who are the largest listed developer in the UK and control a property portfolio that includes prominent buildings such as the new ‘Walkie Talkie” tower,
“In London, uncertainty in the euro zone weighed heavily on business confidence, leading to lower demand than expected for office space.” explained one commentator.
With a flurry of high profile office developments bolstering the London skyline, such as the Shard, Cheesegrater and the rather more normally named 100 Bishopsgate – the slowdown could concern developers as they seek to fill the 2 million plus sq. ft. of floor space they will deliver to London’s office market.