Rising London development masks slowdown in delivery
Commercial property development in Central London has risen by 12 percent since the summer, Drivers Jonas Deloitte’s Winter 2011 Crane…
Commercial property development in Central London has risen by 12 percent since the summer, Drivers Jonas Deloitte’s Winter 2011 Crane Survey has revealed. Approximately 7.2 million sq ft of commercial space is currently under construction – just under a million more than during the summer and 4.5 million than the winter of 2011.
In spite of the positive figures, only around 443,000 sq ft of new space is due to be delivered during 2012, representing the lowest levels of new development in a decade.
“The next 24 months no longer looks as devoid of delivery as it has over the last few surveys, however, delivery of new space remains low compared to historic levels,” said Anthony Duggan, partner and head of research at Drivers Jonas Deloitte.
“The question now is whether the market needs this new space given the weakening economic environment. The answer, as always, will depend on location and size of the schemes being delivered.”
Of new developments, 64 percent are renovations and refurbishments over new builds. This indicates that developers are keen to get space to market to fill the deficit of Grade A space developing in the City and the West End.to top
Organisations are putting their premises at risk through sub-standard lightning protection services that could result in repair and insurance costs totaling thousands, a leading provider has warned
Darlington-based Stone Technical Services has become one of the UK leaders in the specialist field of lightning protection after securing a number of new contracts and thanks to being one of the most accredited in the specialist area
Clothing retailer French Connection is set to close 14 of its UK stores. Shops to close include high profile shopping…
Maidstone is the administrative and commercial centre of Kent. It is also the county town. Yet Maidstone’s excellent location and communications links, coupled to a readily available supply of quality office space mean that it’s true potential remains untapped
Commercial property rates hurt, says RICS
Minimal economic growth and lack of available funds in part attributable to the eurozone crisis saw 2011 end on a…
HM Government has announced it is to sell the long leasehold interest of the iconic Admiralty Archway. The Grade I…
Administrators have been appointed on behalf of Lloyds Banking Group and Irish National Management Agency to oversee the repossession and…
View sample issue
Deals & gossip
Featured news, deals and gossip from Estates Review's carefully curated Twitter list. Follow us @estatesreview.
Power to change or remove restrictive covenants 0 comment(s)
Surrender by operation of law 0 comment(s)
Know your rights 0 comment(s)
Continue occupation after an expired lease 0 comment(s)
Coping with covenants 0 comment(s)
Blast from the past 0 comment(s)
Contact Us 0 comment(s)
Are exclusivity clauses in leases sustainable? 0 comment(s)
Stamping it out 0 comment(s)
About us 0 comment(s)