Hines, a US property company, has secured funding for a 400,000 sq ft speculative office scheme at London's Cannon Street station, according to its European chief Michael Topham. He declined to reveal the identity of the backers, although agents said HSH Nordbank is likely to be lending the money.

The Cannon Street scheme could take two years to build. Construction of the seven-storey office block will involve a remodelling of the railway station and London Underground.