Due to the recent recession in the UK, office space in London has been decreasing noticeably as almost all building in the capital stopped from 2008.
The 15 new developments are scheduled to be built in the next five years. The most advanced is a trio of buildings in the capital: the Heron Tower, the Pinnacle and the Shard, which will stand as the tallest building in Europe at 310 metres.
Last year, it was predicted that there would be no more skyscrapers in the city until well into this decade, other than the already planned Shard.
Peter Rees, planning officer at the Corporation of London, said “There has been an amazing change in the last three months in the Square Mile. We now only have one project mothballed, and that is the Cheesegrater. All the others are now live, either because they have acquired a development partner or because they have basically pressed the button.
I can envisage that everything with a planning permission will now be built. There has been a tidal wave of foreign money coming into the City.
If people are going to do anything they are going to want to do it in the place that is the most vibrant and the most certain.”
The fifteen planned buildings are as follows: Trinity, Fenchurch Street, 1 Blackfriars, London Bridge Place, London Bridge Tower, Strata, Vauxhall Tower, Wood Wharf, Riverside South, The Pinnacle, Wallbrook Square, 100 Bishopsgate, Heron Tower, The Heron and 259 City Road.