Office construction for London

Office design news from Morgan Lovell

Published on 19-05-2010

Up to 1.2 million sq ft of new office space is to be created in London at three developments by British Land, it has been revealed.

Modern office design projects at Regent's Space, Broadgate and Baker's Street are set to get underway in the coming months, with the firm planning to spend £500 million in total on the three new buildings.

The group stated: "We continually review the viability of our schemes and will selectively look to implement development plans when we feel that the demand/supply balance is right."

It added that it is also reviewing a number of schemes that it hopes will get underway before the year is out.

British Land presently has a property portfolio totalling £12.7 billion and is one of the UK's largest real estate investment trusts.

The company presently has occupancy rates of 94 per cent at its premises and offers leases on an average of 13 years.

Posted by Paul Kelly.