Shard Office Space Remains “To Let”

The Shard London Bridge

The iconic Shard skyscraper, which will provide 25 floors of premium office space at London Bridge, is struggling to secure tenants according to a report in today’s Independent.

While this imposing commercial development may have become as recognisable as landmark buildings such as the Gherkin – helped no doubt by regular appearances in the media and on popular TV shows such as The Apprentice – the report says that all 575,000 sq. ft. of the skyscrapers office space remains officially “To Let” – despite it being only weeks away from opening its doors.

More traditionally, large scale developments like The Shard would look to pre-let around a third of the office space available before beginning construction – a tradition that The Shard’s developer Irvine Sellar broke with.

The report also highlights the levels of pre-let office space at other high profile developments adding to the London skyline:

Office space let

  • The Cheesegrater: 33%
  • Heron Tower: 30%
  • Walkie Talkie: 8%
  • The Shard: 0%

The current situation could however look rather different – if a previous pre-let agreement brokered with Transport for London in 2006 to take 190,000 sq. ft. (33% of the office space available), had not been cancelled by the developer.

Author: Harry | | 0 Comments

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