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GE Commercial Finance Real Estate

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Refurbishment mooted in EC4

City fringe consent

City fringe consent

Redevelopment mooted for W1 block

Redevelopment plan for law HQ

Summer 2006 completion in Mayfair

Refurbishment start in WC2

Refurbishment underway in EC2

Great Portland Estates about to exchange

DIFA choose KPF for Bishopsgate

LSE makes property provision

One Westminster Bridge consent

London Stock Exchange considers bids

Bank of England to sell development site

Survey predicts 4,000 firms to leave London

London: 30 new office schemes in Q1

London Springs Forward

The first quarter of 2011 marked the beginning of a new cycle in London’s office construction. Since January 2011, Cityoffices research has revealed that 30 new office schemes have seen starts on demolition and construction work. Schemes such as Africa House, Howick Place, Grosvenor Hill, and 20 Fenchurch Street (full list at cityoffices.net) are just some of those now underway. When completed, these schemes will add over 5.5m sq ft to London’s available office space.

These 30 schemes appear to be speculative as none of the developers has yet announced a pre-let; although 30,000 sq ft is rumoured to be under offer at Waterhouse Square.

It is possible that the start on the two towers; 20 Fenchurch Street, by Land Securities, and the Leadenhall Building, by British Land, both in EC3, may have prompted other developers to get schemes underway and completed before the two towers are on-stream in 2014.

Almost half the new developments underway are refurbishments. Many of these refurbishments do not require planning permission and are being bought forward quickly for the period 2011 to 2014 to meet a perceived short-term ‘gap’ in office supply.



These refurbishments include the upgrading of former premises of large companies which have recently moved into new developments. Examples include the former Cancer UK HQ at 40 Kingsway, WC2, and the former DEFRA building in Page Street, SW1.

Our research shows that a further tranche of construction should be underway in the second quarter of 2011, with a number of developers now appointing construction teams and initiating archaeological digs in advance of spring/summer starts. CityOffices is now monitoring over 100 office schemes in central London that could start this year. - (12-04-2011)

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Refurbishment planned for SW1

GE Commercial Finance Real Estate, the property developer and investor and Grafton Advisers LLP have bought the vacant 1,400 sq m (15,000 sq ft) office building at 4-5 Arlington Street, London, SW1A 1RA for £11.3m and intend to refurbish it during 2006. - (25-11-2005)

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'Chamaeleon' building approved

Ballymore's Arrowhead Quay office scheme in South Quay, London Docklands E14 has had its planning application approved by London Borough of Tower Hamlets. The scheme, designed by Skidmore Owings & Merrill, will in total provide 44,600 sq m (480,074 sq ft) of office space, with leisure and retail space in two buildings. The design will make use of a Mica paint technology that will make the façade of the buildings appear to change colour between blue and green depending on the light conditions. - (07-03-2001)

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London Stock Exchange may relocate

The London Stock Exchange has announced that it is considering vacating the 24-storey Exchange Tower in Old Broad Street EC2 as part of a defence against a hostile bid from Sweden's OM Group. The London Stock Exchange could relocate to a new headquarters by 2004 and could sell the building, which it is said may be worth about £100m. The relocation by 2004 would tie in with lease expiry on the premises. Insignia Richard Ellis was appointed in June 1999 to advise the Exchange on its property requirements. - (20-10-2000)

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