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Office space in Southbank set to double

9th November 2012

Office space in Southbank set to double

About to be added to Southbank’s commercial property hub is 595,000 square feet of new office space. There is a buzz in the air as The Shard building completes; a new London landmark, tourist attraction and, in property terms, it will boost office availability in the Central London office market to almost double from 3.4% to 6.6%. Such an increase in commercial space, specifically offices in Central London, has been long-awaited and much-needed. 

The £2 billion development includes 595,000 square feet of office space as well as a 200-room, five-star Shangri-La hotel.  There are also ten residences, rumoured to be going for about £50 million each. Jointly owned by the State of Qatar and the Sellar Property Group, The Shard will become an overall experience, with restaurants in addition to the other space. The 1,000-foot high building offers 360-degree panoramic views of the capital and the surrounding area from its 69th-floor viewing deck. Tickets to view London from the Shard tower are available now with access available from the 1st February 2013, when the Shard is set to open to the members of the public – although with the first two months sold out already, it is clear that the building is likely to become one of the capital’s top visitor attractions.

The Shard was designed in 2000 by Renzo Piano, an Italian architect, and was set to become Europe’s tallest building, a title which belonged to it while under construction in the summer of this year, but which has now been stolen by a new office block in Moscow, beating the 310-metre Shard by 92 feet. 

The Shard contains premium office space, whose design and status will attract a number of high-end companies. The surrounding area is all set to change as well, undergoing major improvements which include a new concourse, a piazza, a museum and local housing and regeneration programmes, while London Bridge rail and Tube station will experience a major refurbishment.  ‘’All in all, this is going to be a wonderful addition to the central London office market,‘’ comments John Eden of Morgan Pryce, London’s commercial property agent. He also adds, ‘’The Morgan Pryce team is always looking for new office space due to supply falling below demand in recent months’’. 

Not least, the Morgan Pryce staff are hoping to be among the early visitors to the building. Rhodri Mason of Morgan Pryce, is one of them: “I have already booked my tickets to visit The Shard early in February 2013, shortly after the building will open. Once it’s completed, the office space available within the Shard will be an invaluable and sought-after location for companies looking for prestigious office space in Central London.”  

Morgan Pryce is a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.


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