Hammerson are in talks over two possible pre-let agreements at two office locations in London. The company have revealed strong interest from banks and financial institutions, fueled by an improving economic climate and a limited supply of new stock. Because developers have not been able to access lending as easily as before the crunch, the availability of new stock has been reduced. But, the fact that Hammerson are engaging with potential occupants has given reason to cheers to developers who want to create new schemes in the Cityof London.
The two potential schemes would be spread over 800,000 sq ft, at Bishops Place and St Alphage. Originally, JP Morgan were looking at the site before deciding to move to Canary Wharf. If the company can secure the pre-lets, it will give a real boost to the office space market in London. Speculative developments are almost non existent now, so pre-lets would have to be agreed before they went ahead.