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Land Securities have announced they will complete a £655 Million development, including shops, apartments and office spaces in two prime London locations.

One site will be located on Oxford Street, while two further projects will be located in Victoria. It is hoped that building will begin this year and be completed sometime in 2013 and will create an estimated 5000 jobs.

Coletter O'Shea, director of development for Land Securities in London, said: “To be the first major developer to state publicly that we are starting to deliver such a substantial development programme demonstrates our financial strength and development capabilities as well as our confidence in the West End market.”

Demand is expected to increase in 2010, particularly within Central and Greater London – both areas seen as a heartland for the economic recovery. But while developments such as those from Land Securities will not be in place to benefit from any early upturn, they will clearly be hoping to capitalise on a market that has been completely reinvigorated by 2013.

officebroker.com

Published by Simon on Tuesday, 19 January 2010 at 11:00 AM