The demand for office space in Central London has seen a leading developer let a record level of commercial space in the last 12 months.
According to developer Great Portland Estates, which has a property portfolio valued at £2 billion in the Capital, commercial rentals for the firm totaled over £29m during the last year – with foreign investors and office space demand from tech and media firms said to have boosted the market.
Over 17,000 sq. ft. of London office space will be made available by serviced office provider Orega in August 2012.
Building on their previous success, the new building in EC2 will offer 24-hour access and provide a modern and tech-orientated environment for businesses operating from the site.
A newly refurbished office development has been announced for later this year by serviced office provider, Orega.
Orega will be taking two floors of 101 Finsbury Pavement, close to the Moorgate tube station and Liverpool Street. Over 17,000 square feet of office space is expected to attract a number of local businesses with a new fit-out, air conditioning and access to a spectacular rooftop garden.
New buildings in Vauxhall, London, will provide space for brand new student accommodation, hotels and office space – as well as cafes, shops and a community centre.
The scheme, due to be undertaken in part by CLS Holdings, will see hundreds of thousands of square feet of new space appear in ‘Spring Mews’, by Vauxhall Square.
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.
Global law firm Clifford Chance is reportedly set to relocate its entire corporate team to office space in Canary Wharf, introducing a trail of open-plan working in the process.
According to one report, the consolidation of their office space could result in a saving of around £1m each year on business rates alone – while the soon to be vacated offices still leased by Clifford Chance will be made available to a long-term tenant.
The relocation of 8,000 employees from one of the world’s largest financial institutions to office space in Canary Wharf will create Europe’s biggest collection of bankers in the next few months, moving the capital of the UK and Europe’s financial centre away from the City of London.
Office space in The Shard once earmarked for Southwark Council has been given up – in favour of the skyscrapers developers
committing to a local employment project at helping unemployed residents in the local area.