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 area overlooks the Thames and has long been a centre for regeneration in the South London area. In total, upon completion, the project will see 399 student rooms and a wealth of new office space for the local area.

“Gaining planning consent at Spring Mews is an important achievement for our plans in Vauxhall,” says CLS Executive Chairman, Sten Mortstedt.

“Vauxhall is an area of London which we expect will see significant regeneration and growth in the next few years.”

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.

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.

While the aim of the move seems to be led by the financial benefits, it is also expected to help integrate employees from the various teams involved in the move.

In terms of the open-plan trial, this is expected to run for an initial period of 6 months and represent a significant change in working habits and practices. This is perhaps highlighted by the mix of volunteers and conscripts participating in the trial.

As Clifford Chance consolidate their office space and begin looking for a long-term tenant to fill their soon to be vacant space, it may be that the financial sector could offer a solution – with Canary Wharf set to become the new financial capital of London following the arrival of a string of financial institutions.

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.

In what appears to be a cost saving measure, the office space of Canary Wharf apparently provides a £19 per sq. ft. saving for banks such as JPMorgan when compared to keeping their existing offices in the City of London – just by moving 3.4 miles east.

The move to Canary Wharf, which provides around 15 million square feet of office space and retail space across over 30 buildings, is also likely to be relatively easy, with the transport network running to the site benefiting from both underground connections and the Docklands Light Railway.

Despite the shift over 30,000 financial workers are expected to remain working from offices in 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.

Valued at 500k, the employment project will run over 3 years and aims to deliver 6 months employment to 300 residents. The deal
also stipulates that a third of these jobs must be located in The Shard or the nearby London Bridge Place Development.

“To simply provide space doesn’t do anything towards delivering the outcome that the council and we as a developer share.” explained Hamish McKenzie of Sellar Property Group.

“We have set out on this project trying to deliver something that is not just bricks and mortar – or glass in the case of
the Shard – but that will really, tangibly affect the lives of people in Southwark.

“One of those aims is to make sure that we offer people who live in Southwark the opportunity of working within this new
environment.”

Once completed the shard will provide over 500,000 sq. ft. of office space to rent spread over 26 storeys.

The agreement means Great Portland Estates has now successfully pre-let all space within the building which is currently being refurbished.

Property broker Savills has helped Great Portland Estates to report full pre-letting at one of its office space properties in London’s West End.

Following an agreement to lease the majority of 33 Margaret Street in December 2011, Savills has now committed to the rest of the space in W1. The agreement means the property is now 100% pre-let, despite the fact it is not due to be completed until October.

Once the current refurbishment is finished in Autumn, Savills will take seven separate 20 year leases on each of the ground to seventh floors. In total the firm is expected to pay around £6.99 million for just over 95,000 sq ft of office space, with an average rent of around £73 per sq ft.

Commenting on the decision to take further space at 33 Margaret Street, Savills CEO Jeremy Helsby said: “This further pre-letting in this high quality building now provides us with the security and flexibility of additional accommodation to satisfy our intended future expansion, whilst also giving us the right to manage and control the building. It is a further endorsement of the strength of the Savills business going forward.”

Located close to Oxford Street, 33 Margaret Street will become the new home of Savills’ West End teams in 2013 which are currently based at offices in Grosvenor Hill and Lansdowne House.

GPE Chief Executive Toby Courtauld said in a statement: “We are delighted that Savills have now taken the whole of 33 Margaret Street. This deal continues GPE’s successful run of pre-lettings, taking the total of recent lettings in development properties to over 290,000 sq ft at 33 Margaret Street, 160 Great Portland Street and 240 Blackfriars Road.”

A greater use of smartphone technologies and social media platforms will put an added strain on internet connections.

Experts are concerned that UK businesses will suffer with slow internet speeds during the Olympics as tourists and spectators use the web access on their smartphones and clog up networks.

Internet Service Providers Association (ISPA) member James Blessing said: “There is the potential for a massive hit on the infrastructure” adding that “the average connection speed for small and medium business is unlikely to allow every employee to stream the Olympics to their desk.”

However, he continued: “Hopefully, no one will notice a thing. We win if no one notices anything.”

Chief of the British Olympic Association Andy Hunt expects this year’s games to be played out on social networks like Twitter where spectators will post quick updates and results at the touch of a button. This issue, together with the BBC’s extra coverage, which is set to hit between five to 10 times more than its normal output, will place a lot of pressure on the UK internet network.

A Vodaphone spokesperson said: “this summer [data usage is] going to be the equivalent of England playing in the World Cup Final on Christmas Day, every day for the 17 days of the games.”

Many UK businesses are introducing measures to cope with the other problems the Olympics will pose including potential delays to the tube network. Chris Skarratt, co-founder of TV production firm Silversun, is considering allowing his staff to work from home or take up flexible working hours during the tournament. He has also spent money on a better broadband connection so clients can receive videos online instead of in hard copies that would be difficult to deliver on time.

A sustainable construction company has emerged with the contract for the London offices which used to belong to a department of the British Government.

BAM have won a contract which will see them refurbish the former offices of the Department for Environment, Food and Rural Affairs (Defra) for £23 million.

The official office address is 1 Page Street in Westminster and BAM will be working under the contractor who tendered the bid out, Derwent London.

Offering 11,000 square metres of office space in the heart of London, the former Westminster Hospital site was converted into a commercial property which has since been let to Burberry after the government department moved out of the site.

Under the terms of the deal BAM will be involved with external and internal construction. Replacing the steel and glass façade outside will be bricks and punched windows, whilst indoors new lifts will be added as well as fitting electrical and mechanical services.

BAM Construction company director Mike Donegan said: “The project will require a comprehensive reworking of the existing building, particularly given its historic uses. We look forward to creating the fantastic office space that this prime location deserves, and continuing our relationship with Derwent.

“The London commercial sector is beginning to improve after a difficult few years and BAM is proving that it is well placed to play a big role in its future,” he addded.

BAM has previously worked with Derwent London before when it renovated the Angel Building close to King’s Cross Station.

Shared offices in the east end of London could herald an interesting approach to problem solving by bringing together everyone from different businesses, whether friendly or not.

A structure known as THECUBE has been designed to gain the maximum potential out of clients who are using the commercial office space in Shoreditch.

The collaboration, which is being backed by Virgin Media is aimed at allowing companies to work better together and therefore keep them at the forefront of their industries.

People who come up with initiatives are encouraged to share the ideas with those who are working in the same commercial property as brainpower is used to harness solutions which could suit everyone.

Araceli Camargo the founder of THECUBE is adamant that the office space design can take off and flourish even in the hectic world of London business.

Mr Camargo said: “Not enough workplaces are designed to help innovation to thrive, so it happens despite the environment rather than because of it.

“THECUBE is trying to do things differently, so that brains are brought together rather than kept apart, and technology is used to help things happen rather than getting in the way,” he said.

Virgin Media have fitted ultra fast internet connections to the commercial building meaning that there is no strain on the office employees as they go about their daily work.

It is hoped that the twin combination of intelligent thought and lightening fast media connections will be a success.

The £400 million project will create around 300,000 sq ft of mixed use accommodation, including 200,000 sq ft of office space in the West End.

The Crown Estate has announced proposals to spend around £400 million redeveloping three separate sites in the St James’s area.

The scheme, known as St James’s Market, will create around 300,000 sq ft of mixed use accommodation, including 200,000 sq ft of office space on Regent Street and Haymarket. The proposals also include plans to create a 10,000 sq ft pedestrian square with public art and to revitalise a 24,000 sq ft public area.

As part of the Make Architects-influenced scheme, the block at 52-56 Haymarket would be replaced, while the block at 14-20 Regent Street would be redeveloped behind new and existing facades. The scheme would transform Norris Street, St Albans Street and Carlton Street and would create a wealth of new restaurants, shops and homes in a prestigious area.

A public consultation on the proposals began last week, with a planning application due to submitted to Westminster City Council by the summer. If approved, the Crown Estate hopes to begin work next autumn with an aim to complete the scheme by 2016.

The proposals mark the second half of the Crown Estate’s £500 million redevelopment of the St James’s area. During the 10 year plan, the Crown Estate hopes to double the amount of top end residential property in the area and create a retail centre that keeps with the history of St James’s. The property group, which is responsible for generating income for the Queen, has already spent around £200 million buying leases in the area where it already has a property portfolio thought to be worth around £1 billion.

Commenting on the new St James’ Market proposals, The Crown Estate’s Alastair Smart said: “The regeneration of St James’s Market is an opportunity to revive a neglected location at the heart of London, bringing it back into line with historic St James’s for the benefit of 21st century businesses, local residents and visitors alike.

“Our long term vision for the area will protect St James’s distinct niche in the West End office market, enhance its position as a stimulating and eclectic shopping and dining destination, create new homes, improve the public realm and above all, protect St James’s celebrated heritage.”