London waterfront to take on new look with Italian backing
3 August 2015
“The biggest single factor that has held back Waterloo as a business location is planning bureaucracy. The Shell Centre and Elizabeth House together deliver 1.5 million sq ft of office space, which will be transformative for the market, but both have been stalled for too long. In addition, Waterloo has suffered from too many changes of land uses, and from the inertia of large occupiers. Once some of the longstanding office occupiers move on, some other interesting development opportunities will come into play.
There is huge potential for rental growth. We are seeing office rents topping £70 per sq ft at London Bridge, and Waterloo can exceed that due to its greater proximity to the West End.”
Jules Hind, Partner at Union Street Partners