Royal Dutch Shell have announced plans to move to Canary Wharf for the next ten years, whilst the Shell Centre headquarters in Waterloo are redeveloped.
The oil firm are currently negotiating a ten-year lease on 200,000 sq ft of office space in 40 Bank Street, which is close to One Canada Square, so that they will continue to have a working headquarters in London during the redevelopment. (more…)
US investment bank JP Morgan is considering leaving their European headquarters in Canary Wharf in favour of other premises in the City of London area.
This will be a harsh blow for Canary Wharf’s hopes to be the main financial district of London. JP Morgan are currently reviewing plans for its headquarters and the consolidation of all staff and buildings into one development, which may be in City rather than Canary Wharf. (more…)
Many law firms, investment companies and banks are relocating their offices to Mayfair and the Square Mile.
Many financial corporations and law firms are making the most of great office space deals in the City of London and other areas of the capital.
Law firm Stephenson Harwood have agreed to 128,000 sq ft of space at 1 Finsbury Circus, owned by Hermes Real Estate. They will be leasing almost the whole property with the exception of the seventh floor on a 15-year let. They are reported to be paying £35 per square foot with 4 years rent free, with a fixed minimum uplift upon the first review in the fifth year of the lease. (more…)
London is set to join other skyscraper cities in the future by building upwards, with many taller buildings now planned.
In the general scale of things, London isn’t viewed as a ‘skyscraper city’ like Chicago or New York, but things seem to be changing for the taller. The City of London may have a few tall buildings, but its tallest, One Canada Square only measures a third of the height of the world’s tallest – the Burj Khalifa in Dubai. (more…)
A lack of supply in office space in the capital has pushed the value of available spaces up by 43% according to Knight Frank. They are expecting office rental costs to increase by 19% due to the shortage.
London’s internationally facing economy is starting to benefit from the beginnings of growth in both financial markets and international trade. However the recession led to less new development and building in the capital, which in turn is now causing new difficulties for the extra business coming in, as firms struggle to find space. (more…)