London Walkie Talkie over Half Leased Says Developer

London's new Walkie Talkie is over half-leased according to its developer Land Securities. The firm said that 52 percent of floorspace is leased in the 37 storey tower, which is among the most distinctive of the new towers becoming part of the London skyline.

London's new Walkie Talkie is over half-leased according to its developer Land Securities. The firm said that 52 percent of floorspace is leased in the 37 storey tower, which is among the most distinctive of the new towers becoming part of the London skyline. Another 4 percent of floor-space is in the process of being let but is currently "in solicitors' hands" according to the firm. Two-thirds should be leased by the time the tower opens next spring, Reuters reports.

The Walkie-Talkie is one of a trio of exciting new towers in London, exciting in their size and attributes but also in their catchy names, Walkie Talkie (designed by Rafael Viñoly), the Shard (designed by Renzo Piano) and the Cheesegrater (designed by Rogers Stirk Harbour & Partners).

London is arguably at the top of a new breed of global super-city, cities which exist in a league of their own when it comes to property prices, rents and investment potential. London needs more skyscrapers and here they come.

Some analysts have been skeptical that the market could absorb the rush of new office space. Only about 10 percent of the office space in The Shard, London's tallest building, is leased, according to news reports. But this week News Corp. announced plans to lease the "Baby Shard," the 17-story complex next to the Shard.

- Friday 19 July 2013

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