Siemens’ plans to build sustainable office space in London’s Docklands have been approved.
The development plans have received approval from Newham Council and will include an exhibition hall, dockside café, auditorium, conference suite and office space.
The entire development spans an area of 48 square kilometres across six of London’s boroughs. (more…)
Due to the recession and uncertainties in the market, Hammerson property developers have decided to sell some of their office assets.
Hammerson, which is a FTSE 100 company, is attempting to sell the £150m Harbour Exchange Square in the London Docklands and has further plans to become a leading seller of London office space.
However with rental price increases since August 2009 and an increase of competitors there are serious concerns that the decision may come at a bad time.
A financial report announced that Central London has seen a significant decrease in investments since the current government announced plans for the general election.
Cushman & Wakefield, a leading commercial property firm, reported that during the first quarter of 2010 investment in commercial property has fell by 50%.
As the announcement of the general election happened within the first quarter, it is thought to have had an impact on the investment within the capital.
London Docklands is experiencing a major improvement in take-up rates for commercial space. In fact the area’s activity levels have increased by around 521%.
This success has been attributed to the lack of larger floor space elsewhere in London. Many businesses looking for larger office space are attracted to more suitable spaces in the Docklands area. There have been seven major lettings, including the London Organising Committee for the Olympic Games, who have taken 89,000 sq. ft across three floors at One Churchill Place. Other new tenants in the area include South Korea’s National Pension Service and MetLife. (more…)