Two major office space developments look to be lining up for the West End as real estate investment trust Land Securities looks towards plans for 2010.
Last week the company said that it was starting to “access acquisition opportunities” and was “firming up” plans for two large-scale projects as investor interest begins to return to the West End where vacancy rates are currently 3 – 4% lower than in the City.
Land Securities has been disposing of property reserves during the downturn of the last 2 years in a bid to reduce net debt. Positive investor interest from the property giant is a good sign for turning tides in the capital’s commercial property market looking towards next year.
The new developments are Park House, W1 and Selborne House, SW1.
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