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Land Securities goes ahead without tenants

Land Securities has decided to go ahead with the construction of 360,000 sq ft of office space in Southwark Street without waiting for any tenants.

Work will begin on Bankside 2 and Bankside 3 in six months time with a completion date of September 2007.

Bankside 1, already under construction on the corner of Southwark Street and Sumner Street, has been pre-sold to IPC Media which is due to move in next year from its tower block in Stamford Street.

The architect for all three buildings is Allies and Morrison whose offices are also in Southwark Street.

The Architecture Foundation's new HQ – designed by Zaha Hadid – will be built on the corner of Southwark Street and Great Guildford Street.

Meanwhile, Land Securities is planning to build offices and shops on the north bank at New Street Square in the City.

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