Land Securities has announced the start of a £655 million West End development programme with the agreement of construction contracts for the projects.
The construction of three developments forming part of a new £655 million
property investment in London's West End is scheduled to be completed by 2013.
Land Securities has announced that work on Oxford Street's Park House and Victoria's Wellington House and Selborn House projects will begin this year, following the agreement of
construction finance.
The office, retail and residential spaces are being constructed in anticipation of rising demand for rental space in each of these property sectors over the next three years.
Director of development at the commercial landlord Colette O'Shea explained that the move demonstrates the firm's financial strength, development capabilities and confidence in the West End market.
She said: "This significant investment will create new jobs and also deliver shareholder value.
"These three schemes, all designed by leading architects, will really make a difference to the West End and demonstrate our consistent commitment to the future of London."
This announcement comes just a month after Land Securities announced the purchase of a development site in the heart of the Glasgow shopping district for just under £10 million.
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