Squeeze on Office Space Fruitful for Building Company
A building company providing office space in London is benefitting from the squeeze in space in the capital by securing more commissions for work.
Land Securities has recently celebrated strong financial results, and it has revealed that it is well on track to deliver a 1.7 million sq ft development programme next year, when it believes it will match perfectly with demand, the London Evening Standard reported.
Chief executive Francis Salway told the news provider that the shortage of office space in the capital was “even more acute” than they had first thought, but that the company was in talks with prospective tenants for its walkie-talkie sky-scraper, which is due to be completed in 2014.
Property consultancy Jones Lang LaSalle recently revealed figures showing that investment in office space was increasing not just in the capital, but also in the rest of the country as well. Associate director Matthew Atkinson said that the company expected this trend to continue.