Only significant Southbank office scheme this year gets underway

Although 575,000 sq ft of office space on the Southbank will complete at The Shard in 2012, 65 Southwark Street will face little competition in meeting demand for new office space in Southwark outside of the London Bridge Quarter.

According to the latest figures from Midtown and Southbank property experts Farebrother, quarterly take-up has remained solid at around 150,000 sq ft, a trend likely to continue. Take-up outside of London Bridge and More London remains low as residential-led and hotel schemes absorb rare office development opportunities.

Commenting on the Southward Street scheme, Mike Probert of Moorevale said: “We feel extremely confident in building-out into the Southbank market.

“The pipeline is dry and will stay that way up to and beyond completion of 65 Southwark Street early next year.”

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Posted by Sara