Construction of Land Securities Group Plc’s office building tower may be delayed as a result of uncertainty in the commercial property market.
The 600,000 sq ft office building planned to be constructed at 20 Fenchurch St dubbed the Walkie-Talkie on account of its similarity to the two-way radios carried by policemen.
“If we think a pause is the right thing, then we will do it,” said Land Securities Chief Executive Officer Francis Salway.
The group today reported its first losses since 1990 or before as stocks dropped 1p to 1,467p, reducing its value to approximately £6.8m.
Tags: Land Securities Group Plc, london offices, Office Space, Walkie Talkie