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London Stone
an update on 111 cannon street
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As a tennant of the building I thought I should share some insider knowledge.....

New tennants are granted a 5 year lease with a 9 month notice period. So far we have been in the building 18 months and since the Overseas Chinese Banking Corporation (OCBC) has left, the building has slowly been repopulating. Given the huge amount of empty office space in the City, it seems to us very unlikely that the proposed redevelopment will be going ahead any time soon. This has been further enhanced by the current news that the area around The Cannon pub and associated buildings are about to be demolished for a new retail and office precinct.

This area cannot sustain such growth with all the banks (ie. most of the local tennants) moving to Canary Wharf.

My educated guess is that the Stone is safe for the time being... but I could be wrong.

Pete.


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Posted by PeterRooke
13th May 2006ce
02:29

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