Amazon Said to Weigh Lease of Entire London 'Tech City' Building

Construction Work At Shoreditch's Principal Place

The construction site of Principal Place in London.

Photographer: Chris Ratcliffe/Bloomberg Inc. may lease an additional 170,000 square feet (15,800 square meters) of office space in Principal Place near London’s main technology hub known as Silicon Roundabout, according to a person with knowledge of the plan.

A deal would mean, the world’s largest Internet retailer, will occupy all 600,000 square feet of the 15-story building by the time Brookfield Property Partners LP completes construction in 2017, said the person, who did not want to be named because an agreement has not yet been reached.

A spokeswoman at Toronto-based Brookfield declined to comment. Representatives at Seattle-based did not respond to phone calls and an e-mail seeking comment.

Developers are building the most new office space in central London since 2008 as rents rise, with technology, media and telecommunications companies taking up more space than any other industries, according to data compiled by Deloitte LLP. Technology companies account for about 44 percent of all space leased in newly constructed buildings, compared with financial firms which are taking up about 27 percent.

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