London | Land Securities in City tower talks

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Land Securities in City tower talks


26 Feb 2010

By Graham Ruddick



Read More: http://www.telegraph.co.uk/finance/n...wer-talks.html

The office development, one of the biggest proposed for the City of London, was put on hold by the property developer in 2008 because of concerns about the economy. However, a shortage of new projects in the City has led to forecasts that rental values could rise sharply and make developments viable.

The restarting of a major scheme in the City would indicate a new level of confidence in the property market and London as business centre.

Francis Salway, chief executive of Land Securities, has committed £655m to three new developments this year, but they are all in the West End. He said in January that the company had "started" to consider reviving the 600,000 sq ft scheme.