The biggest office schemes completing in London this year are a lot better positioned when it comes to tenants than their equivalents 12 months ago — although half of them are still empty as they approach completion. Analysis by Bisnow, using data provide by Deloitte, found the 10 largest schemes scheduled to complete in 2023 are 47% leased. That compares to the 10 largest schemes being 82% empty at the beginning of 2022. There are a couple of caveats worth pointing out. Some of the schemes on this year’s list were scheduled to complete in 2022, but construction timelines ran over, and they remain unleased or virtually so. And one scheme being built by Google is an anomaly, having been in the offing for almost nine years now. Here’s how the largest offices opening this year are set. 40 Leadenhall
40 Leadenhall is an 880K SF, £1.4B City of London scheme being developed by Nuveen and M&G Real Estate on a site that Nuveen bought out of a distressed debt situation during the last recession. It still has 257K SF left to lease according to… Read the full story here. |