It is hard to keep up with the rapid changes taking place in London as the focus shifts from one area to another. Now it is Nine Elms and Battersea with decades of failure coming to an end with the development of the power station and the, perhaps surprising, moves by the US and Dutch embassies to Nine Elms into large new schemes. This is apparently the largest regeneration project in the UK.
As dramatic as this is, the developments are counterbalanced north of the River Thames by Kings Cross which has become increasingly popular. It is noticeable how improvements to transport play such a major role in the project with Battersea getting a new Northern Line underground link. Also in the development mix is a massive scheme for Earls Court. At the same time the City is experiencing a period of substantial change as banks move into the doldrums but insurance and TMT companies expand their occupation. There is also a shift away from the demand for large floor plates, which Colliers, for one, feels can be satisfied by Canary Wharf.
What is apparent in all these trends is the sheer adaptability and flexibility of the commercial property market in London and the players, whether they be agents or developers, in meeting those needs.