PROPERTY consultants used to talk about Central moving east, citing new developments such as the new Bank of China, Citibank Plaza and, in the Admiralty area, the Lippo Centre and Pacific Place. Now, all eyes are looking west. Private developers and the Government's Land Development Corporation (LDC) are moving into the long-established trading district of Sheung Wan to bring on stream several million square feet of Grade A office space. The largest two developments, for which ground was broken last week, are at the corner of Wing Lok Street and Queen's Road Central, and at Jubilee Street and Queen's Road Central. The area's old-fashioned shop-houses and narrow lanes, including ''Cloth Alley'' and another full of egg sellers, have been flattened to make way for 2,341,000 sq ft gross of office space - about the size of two Lippo Centres. The two office towers will top retail podiums and there will be an open zone intended as a ''green lung''. The LDC, which is building the developments in joint ventures with New World Development Company and Cheung Kong, described the area as ''the new Central''. However, Asia Pacific Tower will come on stream first. The 28-storey Henderson development, at the end of Des Voeux Road, Central, is adjacent to Western Market. The tower comprises 230,000 sq ft of retail and office space and should be finished early next year. It will then provide timely relief to companies suffering from Central's tight supply and high rents. With floor plates of about 8,000sq ft, it will attract larger space users who need to be near Central. Other new office developments near the Sheung Wan Mass Transist Railway station include Li Po Chun Chambers, which will provide 250,000 sq ft gross when finished late next year. Future development will be influenced by the considerable work on infrastructure in the area. These large works include the Western Harbour Crossing, which will emerge at Sai Ying Pun, and the first phase of the Central and Wan Chai reclamation. The reclamation will create 28.3 hectares of new land between Rumsey Street car park, near the Shun Tak Centre, and the Star Ferry. Simon Haynes is executive director of First Pacific Davies.