The Crown Estate has announced two major mixed-use developments in London’s West End as part of what it describes as the largest programme of office developments in its history. The projects at 10 Piccadilly and 21–29 Glasshouse Street will deliver a combined 169,300 sq ft of office, retail and hospitality space, continuing the organisation’s programme of refurbishing and redeveloping heritage buildings across its central London estate. The schemes form part of The Crown Estate’s wider strategy for its 10 million sq ft London portfolio, which combines office development with retail, leisure and public realm improvements aimed at maintaining the West End’s appeal as a business and visitor destination. (more…)

Railpen has secured planning permission for the redevelopment of 12 Smithfield, paving the way for a major office scheme in the City of London as the surrounding area undergoes significant regeneration. The £34 billion Railways Pension Scheme manager plans to transform the existing building into a 122,000 sq ft office development, with completion expected in the fourth quarter of 2028. The scheme is intended to provide new office space alongside retail, café and amenity uses, overlooking the historic Smithfield Market site. The project forms part of wider investment in the Smithfield district, where around £400 million is being invested ahead of the opening of the new London Museum in 2028. The museum will occupy part of the former Smithfield Market complex and is expected to become the centrepiece of a new cultural quarter. (more…)

Prime office rents in the City of London have continued to rise, bringing them closer to levels traditionally associated with the capital’s West End as demand for high quality workspace outpaces supply. New figures from Savills show that average prime rents in the City reached £130.80 per square foot during the first quarter of 2026. By comparison, prime rents in the West End stood at £165 per square foot. The West End of London is typically one of the most expensive markets in the world.  The figures are based on the top 10 percent of Grade A office rents recorded during the period. (more…)

Prime office costs in major global cities continued to rise in the first quarter of 2026, driven by strong demand for high quality workspace and limited availability, according to Savills. The real estate adviser says net effective occupier costs, including rents and fit-out costs, increased by 0.7 percent globally during the quarter. That brings the annual increase to 5 percent and the rise over the past two years to 9.1 percent. Savills tracks 47 cities worldwide and found that occupier costs increased in 23 of them during the first three months of the year. Costs rose by 1 percent across EMEA, 0.7 percent in North America and 0.4 percent in Asia Pacific. (more…)