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LONDON OFFICE DROUGHT SPARKS HUNT FOR 1980S RELICS

LONDON OFFICE DROUGHT SPARKS HUNT FOR 1980S RELICS

Published: 06/02/2014

Next to modern offices towers nicknamed like The Walkie-Talkie and The Cheesegrater, well-worn office buildings from the 1980s and early 1990s are also looked for by investors (Blackstone Group, Brookfield Office Properties Inc. and Land Securities Group Plc) in the City.
 
They want to buy and refurbish these “relics” as rising demand and a shortage of prime space in the City lifts prices and rents.
 
Buying and upgrading existing properties to put on the market can be 6 months faster than constructing a new building and it is also cheaper in terms of money.