London offices performed good over the 3rd quarter of year 2010 for Land Securities. As per the firm, the investments of commercial property in the capital give favourable returns and, it has sustained to push forward with soaring levels of activity.
London’s recent commercial property investments include the office refurbishment of 110 Canon Street and 123 Victoria Street that together will bring 305,000 square foot of offices.
Work is also in progress for the development application of 60 Ludgate Hill and 30 Old Bailey that mutually deliver potential space of 380,000 square foot.
In the third quarter of 2010, investment property lettings stood at £7.7 million for 23 developments.
Francis Salway, Chief executive of Land Securities commented on the report that “We anticipate a wider choice of buying opportunities in year 2011, although present flows of capital into the sector implies that bidding may stay competitive.”
The company lately announced work had commenced on Tuesday (January 18th) on 20 Fenchurch Street, offering grade A office space across the 37-storey building.
Commercial Property Sales near £10bn in 2010