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"Property companies including British Land Plc and Land Securities Group Plc restarted City of London office projects this year and last, betting that the increase in 2010 rents would continue into this year as the financial industry bounced back. The prospects have dimmed over the last few months, as Europe’s sovereign debt crisis and a stalling U.K. economy prompted companies to cut jobs and delay office moves.
"Hammerson Plc Chief Executive Officer David Atkins on Nov. 9 dismissed the idea that the company might delay the Principal Place development, calling it 'pure speculation'. The company is in talks with law firm CMS Cameron McKenna to lease part of the 16-story [sic] office building, and expects development to start in April or May next year."