Turnover rose 39.2% from £114.4 million to £159.2 million butprofit fell from £54.1 million ($79.5 million) to £42.5 million($62.5 million).
Reflecting the strength of demand for offices in the massiveDocklands complex, at the year end the company did not have asingle void in its 4.4 million sf investment portfolio. And it hadanother 7.1 million sf under construction in 12 buildings. Of thistotal only 600,000 sf was not pre-let, pre-sold or underoption.
During the year, Morgan Stanley pre-leased 516,000sf; CliffordChance took 785,000 sf; Northern Trust Company 134,000 sf; TheMcGraw Hill Companies 310,000 sf; CSFB 516,600 sf and LehmanBrothers one million sf. These deals meant that virtually all ofthe original 13.5 million sf Canary Wharf masterplan has beenfulfilled.
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