Walkie Talkie tower to be shelved?

Land Securities are considering delaying the Walkie-Talkie building in London.

The proposed 150m office block tower may be delayed as rents begin to fall and vacancies rise.

Francis Salway, Land Securities’ Chief Executive told the Independent, “If we think a pause is the right thing, then we will do it.”

The Walkie-Talkie building is one of six huge blocks planned for London which were decided upon under Ken Livingstone’s reign as Mayor.

Land Securities are Britain’s largest commercial property company and have recently reported a slump of 8.8% in the value of their portfolio. However, they still maintain that a best ever performance against industry benchmarks has been reached reports the Independent.