Growth of high-profile
London offices is set to have a positive impact upon the construction industry.
Such is the finding of a new report from the Construction Products Association (CPA), which noted that in the next five years, the building of offices will climb by more than 50 per cent.
It would appear that the development of
London offices and other corporate space will be more successful than other parts of the sector.
The report stated that by 2014, road construction will halve, while over the next three years, starts of public houses will decline by almost 40 per cent.
Commenting on the industry as a whole, CPA economics director Noble Francis stated that output in 2011 will retreat by 0.5 per cent, "followed by a greater fall of 2.8 per cent in 2012. In 2013 output will be broadly flat with just 0.2 per cent growth, before a return to some significant growth of 3.4 per cent in 2014".
One of the more recent high-profile London projects to be announced is the new one million sq ft
City offices of Goldman Sachs.
Property Week recently reported that Tishman Speyer - which has previously led projects like New York's Rockefeller Center - has been selected by the financial giant to create the new base in the UK's capital.
Posted by Sarah Dudley
News provided by Adfero in collaboration with Mellersh & Harding. Please note that all copy belongs to (c)Adfero Ltd and does not reflect the views or opinions of Mellersh & Harding unless explicitly stated.
Back