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Skyscrapers Rise On The Back Of New City Cash

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http://www.guardian.co.uk/business/2010/may/19/skyscrapers-city-investment

Building cranes have reappeared on the City skyline. Not many, but enough to stir hope that the long-awaited commercial property revival is under way. Developers are dusting off schemes that were put on hold after the industry was poleaxed by the worst slump since records began in the 1920s.

Two of the biggest players Land Securities and British Land expect demand for prime office space in central London to soar as leases come to an end on buildings that are too old to be re-let.

In the last nine months, a tidal wave of foreign money has been pouring into planned developments in the Square Mile, mostly from eurozone countries that have been taking advantage of the weak pound.

Since February, British investment funds have moved in as European investors back off following the Greek debt crisis and doubts about the future viability of the single currency.

Today, the country's biggest commercial property company Land Securities disclosed a sparkling set of figures that showed the value of its properties had leapt by more than 10% and that plans were afoot to start development on the new office tower nicknamed the "Walkie-Talkie" in Fenchurch Street.

British Land is optimistic enough to consider restarting its landmark "Cheese Grater" development. The firm said this week that it is exploring interest from potential partners, including businesses wanting to take a pre-let on the 610,000 sq ft office building in Leadenhall Street, close to the Lloyd's building. The company's return to development activity is aimed at taking advantage of a forecast rise in rents in central London over the next few years.

I just hope there isn't a rentless recovery as this could all prove to be folly.

Yet more signs this recovery is locked in, commercial property is recovering and it's not like there is a abundance of empty offices across the country....

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http://www.guardian.co.uk/business/2010/may/19/skyscrapers-city-investment

I just hope there isn't a rentless recovery as this could all prove to be folly.

Yet more signs this recovery is locked in, commercial property is recovering and it's not like there is a abundance of empty offices across the country....

You've got the 2012 Olympics too, don't forget.

But this is what I had suspected; that the gov't would try to push hp deflation out to the currency...

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There still seems to be investor cash for building projects, also in retail and residential investment projects.

Plymouth City Council have decided that due to boundary constraints they can't expand outwards in a big way so will build upwards instead and have a 'Tall Buildings development plan' pushing ahead with private investment money to build high risers, e.g. a current block under construction being 30 stories mostly residential, also offices and retail.

i dont get it. Cant blame the Council for facilitating private investment, but is this sort of thing a wise use of money ? Would you be happy seeing your pension fund going into this ? I cant see how Britain needs more office space (or 'apartments') Strange days.

Edited by bricor mortis

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There still seems to be investor cash for building projects, also in retail and residential investment projects.

Plymouth City Council have decided that due to boundary constraints they can't expand outwards in a big way so will build upwards instead and have a 'Tall Buildings development plan' pushing ahead with private investment money to build high risers, e.g.current Oceana block under construction being 30 stories mostly residential, also offices and retail.

i dont get it. Cant blame the Council for facilitating private investment, but is this sort of thing a wise use of money ? Would you be happy seeing your pension fund going into this ? I cant see how Britain needs more office space (or 'apartments') Strange days.

Tall building developments are the most financially risky types. That's what has caught Dubai so badly. You need a really strong and stable economy to support them.

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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