Shard Developer Seek Highest Office Rents Since 1980s!

According to Bloomberg, Irvine Sellar told his Qatari investors that space in the Europe’s tallest tower would fetch the highest office rents since the 1980s property boom.

The Shard, due to open by the 2012 London Olympics, is one of the few towers to be built in London among a dozen conceived at the turn of the 21st century. Sellar aims to charge as much as 70 pounds ($114) a square foot for office space, about 60 percent more than even the best offices in the main financial district half a mile away, according to data compiled by Cushman & Wakefield, though that wasn’t the only attraction for Qatar.

Named for its resemblance to a sliver of glass, the Shard will rise 310 meters (1,017 feet) from a site near London Bridge across the River Thames from the City of London. The 80-story building will include 13 luxury apartments with an estimated value of at least 15 million pounds each and a five-star hotel.

Are these prices really achievable?