Over the next five years, Fleet Street London will see a £5 billion construction boom

LONDON: Over the next five years, London's historic newspaper area will be transformed as developers shrug off recessionary anxieties to push ahead with 34 restoration and new development projects. (Reported by news source)

As an anticipated 3 million square feet of additional Grade A commercial space across office, retail, and leisure is delivered, the Western city periphery district is expected to explode with new buildings.

According to a new analysis by the Fleet Street Quarter, the business improvement district representing over 359 enterprises in a 43-hectare zone, this will result in an anticipated £5 billion in development by 2028.

The largest initiatives currently on the market are the 539,000 sq ft net office renovation of the former Daily Express buildings at River Court, known as 120 Fleet Street, for which Lendlease is the favoured bidder.

Mace has acquired two more major projects in the pipeline: the 525,000-square-foot 'Justice Quarter' at Salisbury Square and the 292,000-square-foot rehabilitation of the former Goldman Sachs headquarters at Peterborough Court, 133 Fleet Street.