EC Harris: London Office Development – The Challenge Ahead

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Global built asset consultancy EC Harris has released a new report based on a snapshot analysis of commercial office development projects currently being planned for delivery in Central London through to 2020.

The report warns that many of the developments are in a precarious position with projects struggling to attract pre-let tenants and external funding which could see 50% never even reaching the construction site.
There are currently over 150 projects lined up which could deliver a potential 53 million square foot of gross office floor area by 2016.

Richard Taylor, Head of Commercial Development at EC Harris and author of the report said: “On paper, the development pipeline for London offices shows massive potential and investment. However, in reality the market is very different, with a large number of these projects unlikely to be delivered as they struggle to find pre-lets and external funding. To stand a chance for success, projects need to differentiate and create a significant market advantage if they are to maximise their chances of completion.”

Download “London Office Development: The Challenge Ahead”.

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