City’s Walkie Talkie almost 20% pre-let

Posted on by Rob Powell

ALMOST a fifth of office space in the new “Walkie Talkie” office build in the City of London has been pre-let, says developer Land Securities.

19 per cent of the office space in the 36-storey building at 20 Fenchurch Street has already been let, with 51,000 sq ft going to insurance firm, Markel International.

The new addition to the Square Mile’s skyline is due to complete construction in 2014.

The update came in first quarter trading statement published Wednesday. The statement also confirmed that 94% of the office space at the One New Change office and retail development next to St Paul’s had been rented out.

Speaking after the report’s publication, Land Securities’ chief executive Rob Noel told journalists he believed top quality office space in the capital was “supply-constrained”, meaning incentives to lure tenants weren’t likely to exceed a typical 12 month free deal on a 5 year term.

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