The firm said in its final results today:  “Levels of take-up across the London office market as a whole have been slightly ahead of our expectations.

“This has reinforced our view that there will be an acute shortage of new buildings in London from the middle of 2012.

“In response to this opportunity, we have brought forward a number of projects including refurbishments at 123 Victoria Street, SW1 and 110 Cannon Street, EC4, both of which will be delivered into the market in 2012.”

Land Securities is currently on site at 123,580 sq m of development schemes in London with another 34,850 sq m of further London development planned to start in 2011/12 at 30 Old Bailey and 60 Ludgate Hill in the City.

Planning consent has been applied for or granted for another 209,850 sq m of space in London and  121,800 sq m of retail schemes across the country.