London office space 'put on hold'

18-08-2008

Developers in London have had to put on hold the construction of up to 750,000 sq ft of office design due to a fall in demand in the city, it has been revealed.

A difficulty in finding tenants for new builds is meaning that many developments are now being scaled down or scrapped completely, according to Contract Journal.

Out of 19 office layouts currently in the planning phase, only three are definitely set to go ahead - these include London Bridge's Shard, Hines' tower in Canon Place and Heron Tower.

Elsewhere in the city, a new project to build a "jewel-like" office building has been given the go ahead, Builder & Engineer Online reports.

It will be visible from Westminster Bridge and Parliament Square and is to be situated along the River Thames.

At 18 storeys it is hoped to be one of the most eye-catching additions to the London skyline in recent years and is due for completion in 2011.

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