Thames gateway set for massive commercial growth

The Thames gateway could undergo massive regeneration over the next ten years, a new report has revealed.

According to Jones Lang LaSalle, the region could reach 40 million square feet of development by 2016.

The firm's report revealed that the Thames Gateway may have 5.4 million square feet of office space, 4.3 million square feet of industrial space and 2.15 million square feet of retail space built over the next decade.

Andrew Gould, head of east London business at Jones Lang LaSalle, claimed that the report would be crucial for developers to make headway in the region.

He told Property Week: "This is a long-overdue guide for investors, developers and occupiers wanting to know what the opportunities are in London Thames Gateway and how to access them. The opportunities for occupiers and investors are now very real."

Meanwhile, research by property firm CB Richard Ellis has shown that London has two areas - the West End and City - in the top three most expensive commercial property regions in the world.

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