The financial media group Bloomberg is close to agreeing a new deal to occupy office space in the Walbrook Square redevelopment.
The Walbrook scheme will develop four new office buildings and create one million square feet of floor space.
Bloomberg have said that it is “selecting the development as its favoured option for a long-standing 500,000 sq ft search”. (more…)
The tenancy of office properties in London rose in 2009 but has now dipped, according to quarterly statistics by property consultancy firm Drivers Jonas Deloitte (DJL).
Last year saw large leasing deals take place by firms such as Blackrock, which occupies 280,000 square foot at Drapers Gradens, and Macquarie Bank, which is tenanting 217,000 square foot at Ropemaker Place. (more…)
Minerva, a commercial property developer based in London has finally returned to profitability.
The firm had recorded losses of £187 million last year, but have just reported H1 profits of almost £46 million. The key to this return to success is the thriving London office space and commercial property market. Their current property portfolio is now worth almost £1 billion, when it had previously fallen by 27% in the last 12 months. (more…)