Lack of Tenants Halts London Skyscraper Boom
While Everyone Waits for The Toronto Boom to Fizzle......
Looks Like London is doing a dandy job popping it's own bubble. The Construction boom, in London may come to a halt, as there has been a lack for Office Towers, and I mean Landmark Office Towers which were built on spec. Built on spec means, that the developers failed to secure tenants for their buildings before construction began. And that means, that these Landmark Office towers will sit empty until some business in London's stagnant economy can pick up the pace and pick up the bill for the AAA rent which will be demanded for the heart of London's oldtown financial district.
Let me tell you this, here in Toronto, we have no such problem, the vacancy rate in Toronto is just a mere 5% or less, and it seems to be dropping at the same time available space is not being made at an adequate rate to keep up with the demand. While Toronto is currently set to see the rise of Bay Adelaide 2 (BAC2) The mega skyscraper twin of BAC - 1, London has been building, like there is no tomorrow, while they sit a the crosshairs of the Euro-Crisis and the Financial Crisis. No such Crisis here in Toronto yet, we have yet to see landmark developments take hold into the construction stages. Mind you we do have many fin proposals which look set to blast Jolly London England right out of the bloody water....
Looks Like London is doing a dandy job popping it's own bubble. The Construction boom, in London may come to a halt, as there has been a lack for Office Towers, and I mean Landmark Office Towers which were built on spec. Built on spec means, that the developers failed to secure tenants for their buildings before construction began. And that means, that these Landmark Office towers will sit empty until some business in London's stagnant economy can pick up the pace and pick up the bill for the AAA rent which will be demanded for the heart of London's oldtown financial district.
Let me tell you this, here in Toronto, we have no such problem, the vacancy rate in Toronto is just a mere 5% or less, and it seems to be dropping at the same time available space is not being made at an adequate rate to keep up with the demand. While Toronto is currently set to see the rise of Bay Adelaide 2 (BAC2) The mega skyscraper twin of BAC - 1, London has been building, like there is no tomorrow, while they sit a the crosshairs of the Euro-Crisis and the Financial Crisis. No such Crisis here in Toronto yet, we have yet to see landmark developments take hold into the construction stages. Mind you we do have many fin proposals which look set to blast Jolly London England right out of the bloody water....
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