29.11.2011 - Skyscraper builders’ bets on city of London sour as banking revival fades
It’s hard to get more central in the City of London financial district than the Walbrook, a gleaming, glass box designed by Norman Foster’s firm that sits less than 200 meters (660 feet) from the Bank of England. Almost two years after its completion, the office building remains empty. Walbrook’s owner, Minerva (MNR), isn’t the only company searching for a large-scale City tenant. Almost two-thirds of the office space completed in the area this year isn’t leased, even though the amount built was 43 percent lower than the 10-year average, Colliers International said in a report. New rentals dropped by 52 percent in the first half, Savills Plc said...............................................Full Article: Source
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