There are robust returns to be had from making commercial
property investments in mid-market
central London offices.
This is the opinion of Derwent London's chairman Robert Rayne, who was commenting on the organisation's financial results for the year ended December 31st 2011.
His sentiments were echoed by chief executive officer John Burns, who said strong leasing activity took place throughout last year and has continued into 2012.
Mr Burns added: "The positive regenerative impact of Crossrail is increasingly apparent in our villages close to Tottenham Court Road and Farringdon."
At the end of 2011, Derwent London asked for planning permission, along with Crossrail, to regenerate 1 Oxford Street, W1. The redevelopment would be constructed above Tottenham Court Road Underground and Crossrail station and deliver 275,000 sq ft of space.
The firm also received planning permission for 63 Clerkenwell Road, EC1, which will take advantage of the Crossrail development here. The new 70,000 sq ft building will deliver
central London offices and work on the scheme is scheduled to start later in the year.
Yesterday (March 1st), it was revealed that Crossrail had awarded the Liverpool Street station construction contract to Laing O'Rourke, with the transport hub set to serve the City.
Posted by Sarah Dudley
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