Hours before their interim results, Minerva Plc has officially announced it will not build the Minerva Tower. Instead they will build the previous 14-storeys scheme which was granted planning permission in 1999.

http://www.minervaplc.co.uk/developments/?id=388

The permission for a landmark tower, ‘The Minerva Building’, was granted in April 2004, comprising circa 1 million sq ft of office and retail accommodation.

"Having undertaken extensive investigation we have concluded that given the significant scale and risks associated with The Minerva Building and resources needed both of a technical and financial nature it is too large a project to undertake in relation to the size of the Group."

"Accordingly, we have taken the decision to proceed with St. Botolph’s House, a flexible modern building which we consider presents a more deliverable and financially sound option in the current development cycle. "

"A landmark 14 storey office building comprising circa 530,000 sq ft of offices and retail. This permission, which was granted in November 1999, has been implemented by the Company. This scheme is known as‘St. Botolph’s House’; or

The new building will comprise flexible accommodation with regular floor plates generally averaging approximately 37,000 sq ft around a central atrium. A detailed design review is currently underway. Notices have been served to obtain vacant possession and we anticipate commencing demolition in the next few months. "

http://www.minervaplc.co.uk/files/development/388/stbotspopup.jpg

http://www.minervaplc.co.uk/files/development/388/stbots2popup.jpg

:(

I hope the developers have to carry out the obligations regarding the creation of a new public square that they had to when gaining the tower's consent.

This will have more floorspace than SwissRe, and the huge floorplates will make it VERY attractive to City companies.

I'm sure they'll find tenants very quickly... tenants which could potentially have gone in the taller towers. Bad news indeed.

:cry:

Depressing news but not surprised. Will miss the Minerva Tower from all the '2012 London' renderings....considering London is one of the financial capitals of the world, were they having problems filling the offices?

Miverva were just pushing the boat out a little too much. Was it 1,000,000 sq ft? (or was that sq m?)

Either way, something special could have gone here.

I think its a fairly nice looking groundscraper, but obviously this is the death of Minerva once and for all, and this has the potential to suck up all the tennants! :(

GUTTED.

"too large a project to undertake in relation to the size of the Group."

That's what killed it. Shareholders don't like risk. I think they could have filled it in a similar way to Swiss Re. But in the end it was just too risky. Very sad, the design was absolute class. This resurected plan is mediocrity defined. It's a naskty hulk that gives nothing back. I very much doubt there will be associated public realm improvements and there is no chance of that new square appearing any time soon.

balls. sad news indeed. This site would of been absolutely perfect, and have been the pinnacle of the aldgate regeneration. whats replacing it looks like a fat bastard, a battery farm for humans.

Well I dont know much about business, the City and finance, but I am sure I am not going to be the only person that link a 'so-called' big player like Minerva as a damp squibb...Ideas above their station eh! That may come back to haunt them image wise.

Whats that line from 'Whatever happened to baby Jane" "Dont worry,I wont forget...I WONT FORGET"!!!!

Oh no.And it looks awful.

What a load of shite, they should all be ashamed. :cry: ..... does it still have pp ??? I hope not :)

the tupperware container returns.

I hope the developers have to carry out the obligations regarding the creation of a new public square that they had to when gaining the tower's consent.
Sadly not. Every square inch of available space will go into creating this groundscraper now. The neighbouring church was also due to be renovated, but this won't happen either. Depressing, isn't it?

It was just when I was getting into London's skyscrapers that this was first propsed. Alongside Swiss Re, it was excting to finally see the propspect of a cluster of tall buildings in the City.

However, the proposals over the past five years have riased the bar for quality so much that this looks completely out of date now. It's comparable to what they're going to build at Westmister Plaza and that's crud. Looks like we've been short changed on all fronts.

Very disappointing, the Minerva tower was such a classy project, and would have been more contextual in relation to the public realm, historic church, etc. than the proposed scheme which is a low risk design, profitable and easier to let no doubt, but does not appear outstanding.

1M square feet is a normal size for a large office building in most big ciites of the world (there's more than one in CW), but central London has few such buildings - I think it would have filled with relative ease - but the company's finances were too shaky probably for investor confidence in the magnificent tower. This is a loss for London.

what a shame

As Mikey said, does this need different planning consent?

How dare they suck up a prime development land with this frustrating lump of lard. 14 stories just smacks of mediocrity.

Time for cunning Ken to steam in and retract planning consent on the basis that Minerva pretended to be a big interesting company - when they are clearly not...

Oh I don't know... :bash:

its 7 years out of date for a start...things have moved on

Very sad, why dont you London lads get together and contact Ken and let him know your concerns. Write/email Minerva and tell them what you think, why didnt they sell the idea to someone else or go halves with someone?. Action is whats needed so dont just sit there and whinge do something, change your city for the better.

That old design is utter shit and cheap and not for London

^^ I doubt there is much we can do now :(

At least they could have gone with the midrise tower that was proposed right before Minerva tower, this is going 2 steps bawards. :cry:

:wave: Bye bye Minerva :wave:

Depressing news. Minerva was one of the best city designs, and this low-rise crap is exactly that...crap!

That looks fugly!

This has really made me feel shit.

Too bad for London. :(

Such a shame - Minerva was such a nice tower. Gotta feel sorry for Grimshaw, he's had 2 towers cancelled in London now, this & his Paddington tower a few years back (You could even say 3 as he designed another tower on this site before the current Minerva tower).

I dont know why Minerva dont just sell the site as it has planning permission for a 50 storey tower. They have enough on ther plate at the moment with their Walbrook scheme which is progessing slowly. At least if they sold it on to one of the bigger fish they could then build a tower on the next property cycle & Minerva would have a wad of cash to build Walbrook & their large park place scheme in Croydon.

surely the planning permission has run out on that plastic looking blob? This area of the City is a terrible experience, I think with the success of Canary Wharf the City would now be looking for something that helps to enhance the area which I cant see how this thing can. Also worrying is the lack of detail in the mass, truely poor.

Also remember opposite this site will be the new triangular Beetham low rise office blocks. It will become low rise groundscraper hell.

I though there were regulations in place that meant when you got plannign permission for a building you had like 5 years to begin construction otherwise you would have to re-apply. is this correct?

I think we are putting too much blame at the feet of Minerva.

Today Aldgate is "back-office land" and the original plan was about more than a building, it was about annexing Aldgate tot the City, upgrading it. Minerva had a plan for that but clearly it was beyond its means.

So they said, let's build what belongs there: a back-office building. These buildings do need to go somewhere... in the past it was thought they would be in the Docklands and now, irony, they are in the City. Nobody is going to spend a lof of money for a back-office building. The architecture and cladding can be cheap. You do not need a tree-lined square or large pavements. All you need is a hyper efficient building. Do you think UBS would ever consider moving their front-office there? Of course not, even TfL will have more attractive offices. In terms of walking distance, LBT is not further away from the City than the eastern part of Aldgate. So take the rent of LBT, knock-off another 20% because LBT is in a better location (on top of a station and next to MoreLondon) and that is what this Minerva building will rent for. You are talking 50 - 60% of central City rents. So seriously, what could you expect Minerva to build on this plot of land? They are designing the building such that it suits the level of rent it can demand.

What we discover right now it that unless there is some real regeneration masterplan by the City of London for this absolutely incoherent area of roundabouts, stations, pedestrian underpasses, 60's and 70s buildings, etc, no developer, will take on the challenge (certainly if the City of London remains so lenient at the same time allowing neo-classical buildings being knocked down in the central parts of the City to make place for groundscrpaers). All of the Aldgate area offers the opportunity for another Broadgate, but it takes some vision and long-term planning. This is not what we can expect from the Corporation of London these days, as we all know. It is a pity, because there is this other Aldgate "leaning cubes" scheme that was proposed for an Aldgate site some little time back (no idea what happened to that). You have a few schemes like Minerva and the "leaning cubes" and with some vision and long-term strategy you could start turning around this whole area. You could overcap parts of the roads to create squares above them etc. You could combine plots to allows for better masterplans, etc. This is where local authorities have a role to play, and if they don't, well then you get exactly what we witness here.

Minerva clearly wasted a lot of time and didn't think this through. Why on earth did they seek a single tenant instead of opting out for multiple lets which would have easily filled up (a tragic problem in the City that small-medium companies are having trouble attaining space - some are willing to pay exceptional fees)?

Also remember that the Corporation were using this tower as a sort of bookmark for companies thinking of defecting to Canary Wharf - it just looks bad when the City can't manage and Canary Wharf can. If I was the Corporation I'd actually politely ask Minerva to bugger off for delaying for what - 10 years. I'd refuse any planning permission and force them into selling the site in hope that a more enlightened developer would take it onboard. They couldn't handle Allders and they apparently can't handle property either - they'll be a takeover or they'll be squeezed out within a few years its as simple as that. London can't have failures.

no suprise there then.
As prophesised by hugh (hello hugh...)& myself , there will not be a tall boom in ldn.Heron will not be built. Nor will the super tall in bishopsgate. In the end nor will LBT.These developers are not skyscraper fans they are buisnessmen.they have to be sure of a decent return.
after wasting time fighting objections, waiting for pre lets & cycles in the property market etc too long has passed & they simply look to build (yet another tower) in Asia , Russia or the USA.
europe in general & UK in particular is not a super-tall freindly enviroment.
being more than 10 years older than the nxt oldest forum contributer (apparently) there is still nothing in the zietgiest to alter my observation.
No boom is coming, a few new towers will pop up here & there.
This was the repeated bi-yearly msg from dreathecontrols.
"...lick-up-chalice-in-a-buckinham-palace..."

Joy oh joy. Minerva have it on there website that they are to proceed with this scheme in the next few months thereby dumping another 500,00sq ft onto the city office market.

http://www.minervaplc.co.uk/developments/?id=388

They also say that work on the Walbrook scheme has also commenced- thats another 415,000 sq ft (looks likes its been redisned slightly as well- looks more futuristic than the earlier scheme probably so it doesn't seem so out of place when L&G develop Walbrok Square).

With all this midrise and grounscraper space being dumped onto the market (I noticed when walking past that Moor House is still largely empty) it is unlikely that any developer is going to risk bringing a tall building to the market.

I do however think LBT will get built, but probably very little in the city. The city has woken up to the needs of large clients 15 years too late, and 5 years after most of them left for CW.

I'm gutted myself, as some of the renderings of possible skylines look so impressive, but I think they will remain just pictures for many years to come....

Nobody is going to spend a lof of money for a back-office building. The architecture and cladding can be cheap. You do not need a tree-lined square or large pavements. All you need is a hyper efficient building. Do you think UBS would ever consider moving their front-office there? Of course not, even TfL will have more attractive offices. In terms of walking distance, LBT is not further away from the City than the eastern part of Aldgate. So take the rent of LBT, knock-off another 20% because LBT is in a better location (on top of a station and next to MoreLondon) and that is what this Minerva building will rent for. You are talking 50 - 60% of central City rents. So seriously, what could you expect Minerva to build on this plot of land? They are designing the building such that it suits the level of rent it can demand.

Yes, That's the point indeed.

Ok some interesting points, so why not get a group together and try and change it. You all have more than enough knowledge, passion and experience - go out there and DO something

Bye bye Minerva. We hardly knew her.

http://static.flickr.com/112/254374875_1df948e7a7_b.jpg

http://static.flickr.com/92/254374864_14d75cbacc_b.jpg

http://static.flickr.com/40/254433845_c51124148b_b.jpg

Minerva- bullies mystery star prize

St botolphs - bus fare home

nuff said really.

Oh, and how dare they name that piece of fucking trash after my beloved boston stump!

When I see these models I just reminds me of what a great tower this could have been. Still is a great design, however now consigned to history.

The simple fact is that the floorspace inside was massive, too massive really for London, I think there was almost a million sqaure feet of space and realistically it was never going to be built speculativley. If you compare Minerva to the other towers its sheer bulk even puts the like of T42 in the shade. Perhaps Minerva would have been better suited to CW, but it looked so 'in place' in the City.

Perhaps, equally if planning guidlines were less strict, this would have risen back in the economic boom of the late 80's - early 90's.

It's a shame, really shame and would have defintely added character to London.

Minerva Building (217m) 2002 - 2006 R.I.P

It's not a bad low rise as it goes but Minerva was just extra extra special. :(

Just an update on this...there are currently 3+ mini diggers sitting on the roof of the existing site jack hammering the building...so down with one ugly building...shame they are going to desecrate this site with another ugly groundscraper, this area has enough already...

Minerva PLC
21 September 2005


21 September 2005

Minerva plc Announcement Regarding The Minerva Building

It has been reported that the Group has shelved plans for its major 1 million sq
ft headquarters office tower to be known as The Minerva Building. This is
incorrect. Minerva remains highly committed to this project and is currently in
the process of refining the internal design of the building in readiness for the
financing and letting of the development. The Minerva Building forms an
important part of the Group's strategy.

To underline the Group's commitment to the City of London Minerva yesterday
confirmed that it is intending, in 2006, to start the development of The
Walbrook a major 452,000 sq ft office project opposite Cannon Street Station.


All Enquiries:

Brunswick Group LLP
James Bradley 020 7404 5959


This information is provided by RNS
The company news service from the London Stock Exchange


Remind me in future to never believe what developers say :(

The building was such a beautiful, elegant piece of architecture. Simple yet effective.

That is just plain ugly. The building that's there at the moment is a bit of an oddity.

Remind me in future to never believe what developers say :(

The building was such a beautiful, elegant piece of architecture. Simple yet effective.


But they did refine the internal fittings! They refined them so well that the outside shrunk, changed shape, height and appearance! I dont understand yur problem? :lol:

http://i35.photobucket.com/albums/d155/GazKinz/PC160238.jpg
The Minerva site.

It's a awful building but I'd rather keep this than the massive, bulky, tacky, groundscraper hell Minerva are now going to build. We'll have to wait another 30 years to get rid of it too.

On a side note Aldgate is such a mess, I've just moved in nearby, it's hell to walk around, I REALLY hate the way 60s planner's force you to walk down into and try to navigate their subterranean labyrinths, where incidentally someone was mugged at gun-point recently and in the middle of the day! The 70s groundscrapers and the one-way system has taken the life and soul out of this area, Aldgate is in dire need of some sort of master plan.

The Minerva tower would have smarted up the area and given some much needed public space. I just can't believe the pill of crap we are going to get.

Shame, Shame...i suppose thats what happens when you have an area with no residents to complain about shoddy designs.

Actually there were a lot of complaints from local residents about the design of the Minerva Tower. They had an issue about how much light they would lose.

I imagine they are over the moon with the Tower's demise.

http://www.minervaplc.co.uk/files/development/388/stbots2popup.jpg

So beautiful alongside the other Aldgate groundscrapers. Looks like a business park in Slough, or possibly Bracknell. Either way its shit compared to what we were promised. This and Columbus are two big missed oportunities.

On separate note, 33 Aldgate (Aldgate House) is going to get a reclad.

OMG carnt belive what a peice of crap their building instead of Minerva Tower.
:bash:>( :? :gunz: :eek: :mad2: :mad2: :weird: :crazy: :guns1: :redx: :moods: :rant: :devil: :pet: :doh: :evil: :ohno: :gaah::old::soapbox::omg: :wtf::bleep:

On separate note, 33 Aldgate (Aldgate House) is going to get a reclad.

Which one is the Aldgate house, has anyone got a photo of it? and a render of the reclad plz. (if their is one)

On Aldgate High Street

http://static.flickr.com/13/14050213_1617f9ddab_t.jpg

http://www.instant-fusion.com/brochures/j11b/

Yeah it is shocking isnt it ^^ Awful groundscraper...sucking the life out of everything

This ground scraper is a piece or arse, but the tower was way too tall for the location and a hunky bunk of flatness anyway.

So, at least this thing is less damaging overall.

^^
You're on your own there mate - and you're on your arse!

It was in the wrong place IMO, but still I would allow for that because of the elegance. etc

There was some scafolding going up when i passed the site around noon today, and some workmen were drilling huge holes over the parking ramp side.
Is the building about to come down?

Still the new building is far nicer than the current one.

Is the building about to come down?

Yes. But it is my understanding a 100,000 sqft prelet is still required to build the downsized scheme.

Still the new building is far nicer than the current one.

yeah, well sadly that's not enough in my book. This development pains me big style, and I understand that Minerva have secured the funding for it, which is fairly obvious as they've started the demolition work on the current site, which has sat empty as an eyesore for a couple of years.

All I can think is commercial reality has bitten on this city fringe site.

Yeah, Aldgate is a bit of a dump really, it's groundscraper hell. Don't even get me started on the one way system and the subway systems where a tourist was robbed and stabbed six times the other day, as well as the robbery at gun point back in september. Nice.

The original Minerva tower, if built, would have included a masterplan to remove that end of the subway system and replace with better surface road crossings. This would have no doubt kickstarted a larger project to improve the road sytem, and bring about a larger masterplan which includes the One Aldgate building and the new Beetham triangular groundscrapers proposed for the bus station.

Now that is all dead.

There's quite a lot of residential going up as you hit the commercial road though, which is i know, a different ballgame - still, on the very same strech of road, who would have thought dev. were gonna go up so fast a year ago?

So beautiful alongside the other Aldgate groundscrapers. Looks like a business park in Slough, or possibly Bracknell. Either way its shit compared to what we were promised. This and Columbus are two big missed oportunities.

On separate note, 33 Aldgate (Aldgate House) is going to get a reclad.


It needs one! 33 Aldgate and Aldgate Union are at the top of my fugly building list! All the work they are doing to Aldgate Union at the moment, you'd think they would reclad the thing...oh well, at least one of them will get covered up!

I honestly think the Aldgate area needs to flatten all of the 60's-present groundscrapers and start again, it's amazing how just 2 mins walk from the Gherkin you come across such a shitty area.

I was quite suprised recently when I was in walking around Aldgate and it was shabby as anything, which suprised me when it's so close to the UK's economic powerhouse. You'd expect somewhere so central and in such an economically prosperous area to be a bit more welcoming, but then again look at parts of the South Bank...