Subscribe RSSErection cranes have reappeared on the City skyline. Not many, but enough to stir hope that the long-awaited commercial property comeback is under way. Developers are dusting off schemes that were put on hold after the industry was poleaxed by the worst slump since records began in the 1920s.
Two of the biggest players Come Securities and British Land expect demand for prime office space in central London to shoot up as leases come to an end on buildings that are too old to be re-let.
In the last nine months, a tidal wave of foreign money has been pouring into planned developments in the Four-sided Mile, mostly from eurozone countries that have been taking advantage of the weak pound.
Since February, British investment funds have moved in as European investors back off following the Greek owing crisis and doubts about the future viability of the single currency.
Today, the country's biggest commercial possessions company Land Securities disclosed a sparkling set of figures that showed the value of its properties had leapt by more than 10% and that plans were afoot to start progress on the new office tower nicknamed the "Walkie-Talkie" in Fenchurch Street.
