Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-London should expect its office market to slow further, according to the developers of Canary Wharf. The company has issued a trading statement which is more downbeat than previously.

‘In the short term, the cyclical slowdown of the economy and the financial services sector, which has been exacerbated by the recent tragic events, will inevitably have an effect on the London office market in general,’ it said. But the company went on to underline its own secure position: there is not a single void among the 6 million sf so far completed at the Docklands office complex.

And over the next three years another 6.97 million sf will be completed, of which 5.73 million sf is pre-let, 0.67 million sf is subject to options and negotiations are currently under way on 0.2 million sf. ‘Whilst remaining positive about the prospects,’ the statement concluded, ‘the directors recognise the current economic climate and will concentrate on completing the letting of vacant space and achieving further pre-lets.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.