Monday July 6, 2020

City development boom despite gloomy outlook

Developers are adding about 4.2 million square feet this year in London’s financial district, despite price drops and rent plunges, writes Peter Woodifield.

23rd August, 2008

Developers are adding about 4.2 million square feet this year in London’s financial district, despite price drops and rent plunges, writes Peter Woodifield.

London developers are adding the equivalent of 160 trading floors of office space in the main financial district in the next two years. However, their timing is dubious.

Prices for offices in the City of London have plunged 25 per cent since last August, the biggest drop since 1992, according to Investment...

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