Land Securities gets planning permission for London office development

Date: 07/06/2011

A new commercial property development from Land Securities could be an attraction for businesses with London telephone numbers that are planning to relocate to larger premises in the next two years.

The real estate firm has secured planning permission for the 30 Old Bailey and 60 Ludgate Hill redevelopment, which is due to open in late 2013.

Space for offices, restaurants and retailers will be included in the 375,000 sq ft City of London site - which will replace aging 1960s properties - while Land Securities will also carry out improvements to public areas and pedestrian access routes.

Head of development of the London portfolio at Land Securities Colette O'Shea explained the site is part of the firm's "clear plan to deliver over two million sq ft of new space by April 2014".

The company's chief executive Francis Salway recently identified London office space as a key area for rental growth, as demand is beginning to outstrip supply.