London office projects hit record as rents surge

London

DEVELOPERS started a record number of central-London office projects in the six months through March as they tried to capitalise on rising rents.

Construction work began on 51 office buildings during the period, Deloitte LLP said in a report on Tuesday. About 14 million square feet (1.3 million square meters) of space is now under construction, 28 per cent more than the previous six months and the highest since March 2008, according to the report.