UK Business Property

Some 60,000 sq ft of office space could be built.

London's supply of top-quality commercial property will grow a little larger, if one firm wins permission to build a new complex.

AXA Real Estate has submitted a planning application for a multi-purpose development overlooking St Paul's Cathedral, in the heart of the city.

While there will be some residential property constructed should the proposal be approved, the highlights relate to the commercial facilities the firm intends to create.

Some 60,000 sq ft of new office space, along with 20,000 sq ft for restaurants, is included within the plans.

Preliminary work on the site has already started and, should the project reach a successful conclusion, it will be finished by the early part of 2013, the firm believes.

The Wilmington Trust is one organisation to have recently taken up a larger commercial property, as it announced it has moved into the King's Arm Yard building, where it will be based in 8,000 sq ft of office space.

Posted by Darren Purse