View Full Version : LONDON | Riverside South | 236m | 45 fl | 189m | 37 fl | On Hold


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RobertWalpole
July 11th, 2010, 09:48 PM
...
Whereas the City has proved to be the contrary: a place for daring skyscraper architecture, controversial designs and experiments. Besides, with Bishopgate, Walkie-Talkie and Leadenhall built, there won't be much more places for skyscrapers there, unless they start demolishing more, which wouldn't be too good either.

There are a lot of places to build in the City. I always assumed that all of the 7 to 10 story buildings constructed in the 1980s and 1990s would be redeveloped.

desertpunk
July 14th, 2010, 01:09 AM
JP Morgan Chase appears on track for another very profitable quarter but like all US banks, they're staying away from commercial real estate. They backed out fully from the 5 WTC site where a 40+ story tall was to be built. The Port Authority of NY still insists on offices there. I do hope they go forward with this project. It's really nice and no one can go wrong building in London.

Bob!
July 18th, 2010, 01:29 AM
Thanks to leytonstonia!

http://farm5.static.flickr.com/4134/4802425131_7a91ef1a9e_b.jpg

http://farm5.static.flickr.com/4123/4802403425_06e830d31d_b.jpg

http://farm5.static.flickr.com/4134/4802421713_6f1935dfe9_b.jpg

http://farm5.static.flickr.com/4116/4803036448_6acb3e3ddd_b.jpg

http://farm5.static.flickr.com/4143/4803048094_7a57063ab9_b.jpg

http://farm5.static.flickr.com/4101/4803040414_14de8c9957_b.jpg

http://farm5.static.flickr.com/4097/4802413785_fe00647b39_b.jpg
Source: #4069 (http://www.skyscrapercity.com/showpost.php?p=60484841&postcount=4069) by leytonstonia (http://www.skyscrapercity.com/member.php?u=624899)



JP Morgan UK future at risk
Bank now sees expansion in Asia not London, as Canary Wharf development is deemed at 'serious risk'.

Telegraph.co.uk (http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7896696/JP-Morgan-UK-future-at-risk.html)

JP Morgan has raised serious concerns about its commitment to its new £1.5bn European headquarters at Canary Wharf because of anger within the bank at the lack of support for the financial sector in the UK.

Jamie Dimon, chief executive of the American bank, is understood to have doubts about investing so heavily in London when there is uncertainty about future costs that could be imposed on banks. Some sources said the bank was "on the verge" of quitting the development.

Any move by JP Morgan to scrap the twin skyscraper project in the Docklands would be a major blow for the UK and George Osborne's claims that Britain is "open for business".

High-level talks are understood to have taken place between JP Morgan, officials from the Mayor of London's office and Canary Wharf Group (CWG) over the future of the headquarters, although no decision has been reached.

Boris Johnson, the London Mayor, has met representatives of JP Morgan and has been told of their concerns about the future of London as a financial centre.

The bank has made it clear that it now sees expansion being in Asia rather than in London.

It has also been made clear to Mr Johnson that as the decision on building a new headquarters in Canary Wharf is one "for the next 20 years" it is now at serious risk, said one person with knowledge of the discussions.. "They are finding that decision very difficult in the present climate because of concerns about what is ahead."

JP Morgan has listed a number of factors in their decision to review building a new headquarters in London. The atmosphere of "banker bashing" from politicians that is still apparent even after the election, new plans for an "activity tax" on banking operations in the UK, the new levy on balance sheets, the ending of tax relief on pensions for higher rate earners and the 50pc higher rate income tax have all been raised.

Mr Dimon is understood to have warned Alistair Darling, the previous chancellor, in a phone call last year that the bank could scrap the plans for its headquarters. His mood does not appear to have been improved by a change in government, and last Thursday JP Morgan revealed it had paid £328m to the Treasury for the one-off UK bonus tax.

When the bank paid CWG £237m in November 2008 for the headquarters' site, it was perceived as a major vote of confidence in the UK, with space for 20,000 staff in the proposed new building.

JP Morgan must decide on the future of the Lord Rogers-designed project by the end of 2010 and will have to pay CWG, the construction manager, £76m if it pulls out for work already completed.

Sources in the property industry insisted talks were continuing with JP Morgan over the project but that there was "a lot of work to go", with discussions at a sensitive stage and a decision unlikely until later in the year.

Rather than scrap the project, JP Morgan could downsize it to 1.6m sq ft. At present, the bank operates from offices across central London and one of the reasons for the new headquarters was to consolidate its premises, including the newly acquired Cazenove, under one roof. It could therefore look at other, smaller sites in central London for a headquarters, such as Hammerson's proposed development at St Alphage in the City, Great Portland Estates' 100 Bishopsgate, or the former 1.1m sq ft Lehman Brothers building at Canary Wharf.

All parties declined to comment last night.

desertpunk
July 18th, 2010, 01:54 AM
JP Morgan posted $4.8 billion in profits for the 2nd quarter.

droneriot
September 3rd, 2010, 01:27 PM
Originally posted by leytonstonia in the London subforum:

http://www.leytonstonia.com/2010/09/works-to-restart-on-riverside-south.html

The most important part of the article:

CWG have however confirmed that the next phase of construction on the site will commence shortly, with additional electrical and drainage infrastructure being installed along the Riverside Wall, which is at least some positive news for the development.

PortoNuts
September 4th, 2010, 08:40 PM
If they get on with this next stage, they will eventually build something here, even if JP Morgan pulls out of this project.

desertpunk
September 4th, 2010, 10:09 PM
If they get on with this next stage, they will eventually build something here, even if JP Morgan pulls out of this project.

I really hope they can. But they need another anchor tennant to get financed so maybe someone else would like to occupy a brand new first class complex...

PortoNuts
September 4th, 2010, 10:14 PM
I've heard CW Group could built it speculatively. Well, but let's hope JP Morgan will go on with this.

PortoNuts
October 26th, 2010, 05:24 PM
JP Morgan withdraws threat to scrap £1.5bn London HQ

David Cameron’s new “growth strategy” is already paying off, I hear. JP Morgan Chase is within a whisker of withdrawing its threat to cancel a £1.5bn development in London’s Canary Wharf to house its European headquarters. Goodness knows what the Coalition has had to promise to bring about this change of mind, but the deal is now said to be virtually done.

The threat of cancellation was made by Jamie Dimon, chief executive of the American banking goliath, in the row that followed Alistair Darling’s imposition of a bonus tax. The Coalition has since been desperately trying to get him to change his mind on the twin towered project, but amid the growing chorus of bank bashing rhetoric it’s been an uphill struggle. None the less, I gather he’s finally been persuaded to push ahead afterall, and no, Tony Blair, a highly paid adviser to JP Morgan, took no part in the negotiations, though for all we know he might have influenced Mr Dimon’s decision.

Designed by Rogers Stirk Harbour & Partners, the architecture company of Lord Rogers of Riverside, this is a vast project, about twice the size in terms of square footage of the existing HSBC building in Canary Wharf and capable of housing up to 20,000 staff. It’s quite a coup, both for London and the Canary Wharf development.

We have to assume that Mr Dimon must have been promised the bonus tax won’t be repeated, and that much of the rest of the attack on bankers, including the threat to split commercial from investment banking, is about to be toned down. He’ll also have sought, and received, reassurances that the Government’s immigration policy, which has caused a storm of protest among talent hungry corporations, will not apply to him. He’ll be allowed to bring in staff from overseas as and when he wants.

Over the past week, a clutch of other sky-scraper devopments in the City, mothballed by the credit crunch, have been revived, including the so-called “chees grater”, the “helter skelter”, and the “walkie talkie”.

All this may not be quite the jobs for the horney handed men of toil that the Government wants to attract to the Northeast and other regions heavily dependent on public sector employment, but something is better than nothing, and the investment certainly amounts to a very considerable vote of confidence in both the UK and the Coalition’s economic strategy.

As I say, I dread to think what JP Morgan has been promised, but the international competition for investments like this is extreme, and there is going to have to be a lot more bending with the wind by the Coalition in the years ahead if the UK is to attract the inward investment hoped for.

http://blogs.telegraph.co.uk/finance/jeremywarner/100008334/jp-morgan-withdraws-threat-to-scrap-1-5bn-london-hq/

PortoNuts
October 26th, 2010, 07:12 PM
Good to know the CW Crossrail station is well underway, developed infrastructure is well needed to cope with an additional 20 thousand people.

Ni3lS
October 26th, 2010, 08:19 PM
Good news. So this project actually has been on hold for the past couple of months? Now foundation is finished we can expect some towercranes soon right?

adschi
October 27th, 2010, 12:21 AM
wow so are we actually gonna see this built?!

djm160190
October 27th, 2010, 01:09 AM
Good news for this building!

Business gave a cautious welcome to the growth figures, but there were warnings about the looming impact of the cuts and VAT rise in the New Year. David Kern, the chief economist at the British Chambers of Commerce, said: “We must not forget that we have not yet seen the impact of the deficit cutting measures.”
In a vote of confidence in the economy, JP Morgan Chase is on the verge of agreeing to go ahead with a £1 billion office development at Canary Wharf that it had been threatening to scrap.
Alan Johnson, the shadow chancellor, claimed that the figures showed that the momentum “remains from Labour’s support for the economy”.
He added: “The risk going forward is that the Government has a plan to cut one million jobs, but no plan to support the private sector in replacing them.”

The above was taken from the following article by The Telegraph:
http://www.telegraph.co.uk/finance/economics/8088964/Interest-rates-set-to-rise-as-economy-recovers.html

PortoNuts
October 27th, 2010, 07:06 PM
US bank to restart giant Canary Wharf office project

US banking giant J P Morgan is reported to be about to make the decision to restart construction of its twin tower office scheme in London’s Canary Wharf.

Construction work on the 2m sq ft Riverside South scheme was halted at basement level months ago when the banking giant expressed concerns about London’s future as a world-leading financial centre.

Early fears over a punishing regulatory regime for banks, talk of a bonus tax and the impact of the government’s austerity measures led the bank to seriously question the new HQ plan.

A report in the Daily Telegraph suggests that the Government has won the bank round and it will shortly announce that it plans to proceed with the huge stalled Docklands site.

The bank set a loose deadline of the end of the year to make a decision. In August it said it would not quit the UK altogether but was looking for the best deal on a London site.

Canary Wharf Contractors has laid the foundations of the building, designed by Lord Rogers’s firm Rogers Stirk Harbour and Partners. If JP Morgan pulled out, it would have to pay for work done plus a £76m forfeit.

JP Morgan bought the site from the Canary Wharf Group in 2008 for £237m.

http://www.constructionenquirer.com/2010/10/27/us-bank-to-restart-giant-canary-wharf-office-project/

Frankus Maximus
October 28th, 2010, 05:35 PM
Good news. So this project actually has been on hold for the past couple of months? Now foundation is finished we can expect some towercranes soon right?

All the reports here at the moment state JP Morgan Chase is about to give the go ahead. JP Morgan haven't issued a statement yet, but lets hope they do :)

PortoNuts
October 28th, 2010, 07:25 PM
That's the good thing about having the basement works done, they can start building right away. Basement works are so boring.

aarhusforever
December 9th, 2010, 09:28 PM
Any news about this nice project??

Manchester Planner
December 9th, 2010, 09:34 PM
It's pretty much dead. Skyscraper development in London has pretty much entirely shifted to the City and just over the river in Southwark.

aarhusforever
December 9th, 2010, 09:52 PM
^^:bash: Damn. I love this project..

Manchester Planner
December 9th, 2010, 09:55 PM
Really? I've always felt it would ruin the CW cluster, adding two OCS-sized towers right on the edge of the cluster by the Thames. Hopefully it will be replaced by a more interesting residential scheme.

If it's a toss up between getting Riverside South built or getting the Leadenhall/Cheesegrater built... no contest. Fortunately the latter is going ahead in 2011.

aarhusforever
December 9th, 2010, 10:22 PM
Cheesegrater :soon: :okay:

PortoNuts
December 20th, 2010, 09:05 PM
JP Morgan buys new London HQ, continues skyscraper

JP Morgan has bought the former Lehman Brothers building for its investment bank, while keeping its options open on plans to erect a new skyscraper nearby as its European headquarters. The US bank bought the Lehman building at 25 Bank Street in London's Canary Wharf financial district for 495 million pounds (USD 773.4 million), seller Canary Wharf Group (CWG) said on Monday, adding that the two groups would continue to develop the Riverside South site.

JP Morgan is still reviewing its plans for Riverside South, said John Garwood, secretary of Songbird Estates, majority owner of CWG. The site will potentially have a much larger building.

"They're (JPMorgan) going to review what their future requirements are going to be and they'll be looking at carrying on with a full design over the years to come," said Garwood. "But short term, we'll be building it up to street level and then we'll obviously also be reviewing what's best to go on that site." JPMorgan and the CWG, which owns the majority of the Canary Wharf district's property, had stopped building a conspicious new headquarters on the Riverside South site earlier this year, triggering speculation JPMorgan would axe the costly project, under pressure from negative sentiment against banks.

"These properties are long-term investments and represent our continued commitment to London as one of the world's most important financial centres," JPMorgan Chairman and Chief Executive Jamie Dimon said in a statement.

The Canary Wharf Group -- which is majority owned by Songbird Estates -- said construction work would recommence immediately to bring the development to the street level and that it had extended its development agreement with JPM until October 2016. Shares in Songbird, whose top shareholders include Qatar's sovereign wealth fund with 20% and China Investment Corp with 12.6%, were up 3.3% at 140 pence by 1018 GMT, ahead of the UK property stocks index which was flat.

CWG also said it had recently agreed terms with insurer AIG for the termination of the rental cover facility at 25 Bank Street for a payment of 144.5 million pounds related to the termination of Lehman's lease after the U.S. investment bank collapsed in 2008.

JPMorgan said in a separate statement it had also agreed to purchase 60 Victoria Embankment, which it had been leasing since 1991 for its Treasury and Securities Services division. It did not give a price for the deal.

http://www.moneycontrol.com/news/world-news/jpmorgan-buys-new-london-hq-continues-skyscraper_506133.html

JP Morgan Chooses London for European HQ

The Mayor of London Boris Johnson has today (Monday, 20 December) welcomed international banking giant JP Morgan's plans to base its European headquarters at a new building in the capital, providing a major boost to the City and reaffirming confidence in London's financial sector.

JP Morgan, which employs about 11,000 people across London, has confirmed it will purchase 25 Bank Street in Canary Wharf, a purpose built complex which was designed specifically for a global financial firm. The offices will house JP Morgan's entire investment banking division, which is currently spread across four separate buildings in the capital.

The bank has also confirmed it is committed to developing Canary Wharf's Riverside South area, providing future flexibility for its many other employees in the capital. The development comprises 1.9 million square feet of office space - which would make it more than twice the size of the HSBC Tower on completion.

The Mayor of London Boris Johnson said: "This is a tremendous coup for London and for the UK, which rightly reflects the prevailing confidence in the capital. "Banking is one of the few global industries in which we truly excel. The City contributes about nine per cent of Britain's GDP, and a whole wealth of professions and trades depend upon it either directly or indirectly.

"JP Morgan's commitment to London will help ensure the capital retains its position as a banking powerhouse, which drives the UK economy and attracts the brightest and best stars from the financial world."

http://www.freshbusinessthinking.com/news.php?CID=&NID=6944&Title=JP+Morgan+Chooses+London+for+European+HQ

aarhusforever
December 20th, 2010, 10:11 PM
^^ Not dead - Great news :okay:

spectre000
December 20th, 2010, 11:17 PM
Excellent! I hope it doesn't stay at street level for long. But at least it won't be a pit anymore.

desertpunk
December 20th, 2010, 11:24 PM
JPM will build it. They'd be fools not to. Regardless of what use the project may be for them, the mere ability to build this much GLA in a market as tight as London's speaks for itself. And it won't wait until 2016. I suspect JPM is looking at financing alternatives so they can slough off some of the risk.

yajohnsmith
December 20th, 2010, 11:59 PM
guys, you should read the article again:

JPM said, they're going to build the basement levels until 2016. after that they're going to decide, what to do with the project. it is not even clear if they stick to the proposal or go for something completely different.

so whatever gets built there somewhere after 2016 ...it is most likely not the current project.

someone should change the title to Riverside South | 0m | 0fl and move it to another section, because this one is not going anywhere higher than that in next couple of years.

PortoNuts
December 21st, 2010, 12:25 AM
Foundations are built taking in account a specific building. They can't build whatever they please after the foundations are done. And it would be rather stupid for a major bank to be paying for all of this to then give it to CW Group.

adschi
December 21st, 2010, 01:52 PM
At least we've got confirmation it isn't completely dead. :)

BodgeJob1
December 21st, 2010, 03:00 PM
guys, you should read the article again:

JPM said, they're going to build the basement levels until 2016. after that they're going to decide, what to do with the project. it is not even clear if they stick to the proposal or go for something completely different.



No...YOU should read the article again.

Basement level construction and completion will start immediately.

2016 is the date at which whatever they decide to build, must be completed by...

So, by 2016, either the 2 RS towers will have been built, or something else entirely...

cristof
December 21st, 2010, 03:08 PM
its great for London... i remember the tantrums about what if JPM chose Paris or Frankfurt lol...whatever these towers will be built i cannot imagine to let a giant hole like this in one of the most valuable area in town...and until 2016 lots of things gonna happen...

PortoNuts
December 21st, 2010, 03:56 PM
Still, I prefer this hole with foundations over the car park that was there before.

Magnog
March 18th, 2011, 03:07 AM
why's this project not getting followed? anyone got any pics of the site ?

Frankus Maximus
March 18th, 2011, 06:06 PM
why's this project not getting followed? anyone got any pics of the site ?

Could be because there is no progress. JP Morgan are now moving into a different building on the Wharf. They have announced their intention to continue with this project, but haven't confirmed what they intend to do with the site - continue with building as is, change building design, sell etc.

PortoNuts
March 18th, 2011, 10:17 PM
I don't think there's any indication about when JP Morgan will say something on this one, it could be next month, it could be in a few years.

RichW1
March 19th, 2011, 10:08 PM
I really don't see this going ahead as I've said before. Demand in Canary Wharf is on its ass. The only buildings viable on this site now are those with a pre-let and the indications are no company with anything close to wanting this much floorspace is looking as though it'll be coming forward.

Canary Wharf looking at the REIT indications for this year and next says to me it's a dead area for the time being. Our attention is going to be on the City and Stratford for the next couple of years.

Myster E
March 20th, 2011, 03:04 AM
I really don't see this going ahead as I've said before. Demand in Canary Wharf is on its ass. The only buildings viable on this site now are those with a pre-let and the indications are no company with anything close to wanting this much floorspace is looking as though it'll be coming forward.

Canary Wharf looking at the REIT indications for this year and next says to me it's a dead area for the time being. Our attention is going to be on the City and Stratford for the next couple of years.

That's sad, I don't venture too much into the London forums but I'm also assuming that aside from this, the 237m Columbus Tower, North Quay Towers and the 197m 1 Park Place are also dodos. Pretty sad really given how much potential this part of the city had.

Londoner.
May 2nd, 2011, 10:56 PM
:(

PortoNuts
May 5th, 2011, 08:31 PM
An article published today says that work is to recommence in about six months time. Until then, the riverside walkway is going to re-open.

For the full article please see http://www.wharf.co.uk/2011/05/wrangle-over-river-pathway-res.html.

...

SO143
May 6th, 2011, 05:03 AM
Any new render or recent pics of this tower?

Cheers

PortoNuts
May 6th, 2011, 07:33 PM
I don't think there have been major changes on that.

PortoNuts
May 7th, 2011, 03:33 AM
Work To Restart On Riverside South

Construction work is due to get underway again on the sprawling Riverside South development in Canary Wharf, which is currently the single largest office development under construction in Europe.

Construction on the massive 335,000 square metre development which will feature the tallest tower in Canary Wharf had taken a pause whilst banking giant JP Morgan decided if they were going to plump for it as their main headquarters or not. With that move now off, and the bank having opted for 25 Bank Street instead, construction has been halted with the foundation slab complete.

The next stage of construction of the Rogers, Stirk, Harbour + Partners design will begin in approximately six months and see the project built up to ground level with the basement floors constructed. This will then give the developers, Canary Wharf and JP Morgan, another opportunity to take stock, and to reconfigure the project further to fit in with the expected economic climate.

The news will hardly come as a surprise to many observers however - Canary Wharf announced at the end of last year it would take two and a half years to build up the project to ground level, and it appears that is a fair approximation of how long it will have taken them. It just goes to show that sometimes pronouncements on development schedules can actually be somewhat on the ball.

http://www.skyscrapernews.com/news.php?ref=2843

http://img200.imageshack.us/img200/6240/261riversidesouth3pic61.jpg

http://img546.imageshack.us/img546/1706/261riversidesouth3pic41.jpg

RobertWalpole
May 7th, 2011, 06:09 AM
Quite boring. Very American -- straight out of Chicago. Pass!

Since it looks so American, they should depict a bunch of depraved Yanks cheering the death of bin Laden in front of this.

I also blame JP Morgan for pulling out. They're merely trying to have NY top London as a financial centre.

Munwon
May 7th, 2011, 02:39 PM
Quite boring. Very American -- straight out of Chicago. Pass!

Since it looks so American, they should depict a bunch of depraved Yanks cheering the death of bin Laden in front of this.

I also blame JP Morgan for pulling out. They're merely trying to have NY top London as a financial centre.

Cheeky:)

PortoNuts
May 7th, 2011, 06:14 PM
Quite boring. Very American -- straight out of Chicago. Pass!

This style is very suitable for CW though.:)

droneriot
May 7th, 2011, 07:50 PM
Glad that work is getting restarted on this project.

RobertWalpole
May 7th, 2011, 08:10 PM
This style is very suitable for CW though.:)

I just need to vent about the Americans. They're on such a power trip right now. It's annoying.

RobertWalpole
May 7th, 2011, 08:18 PM
This isn't under construction. They're just building to ground level. This should be moved to proposed.

http://skyscrapernews.com/news.php?ref=2843

sweet-d
May 7th, 2011, 09:03 PM
i really like these it's not boring but it doesn't say "hey look at me" It's a nice addition to CW London needs more skyscrapers any way.

poshbakerloo
May 7th, 2011, 11:29 PM
Quite boring. Very American -- straight out of Chicago. Pass!


I don't think its that American. If it was it would probably be on a much larger scale and called something like "The Columbia Centre" lol

Ps I like this tower (s)

R.K.Teck
May 8th, 2011, 03:28 AM
Looks stunning with all the waterside landscaping at the base of the tower - I'm happy to wait!

PortoNuts
May 8th, 2011, 08:08 AM
This isn't under construction. They're just building to ground level. This should be moved to proposed.

http://skyscrapernews.com/news.php?ref=2843

It's under construction while construction is going on, not matter to what level.

tovan
May 9th, 2011, 12:26 AM
true. but there isn't going to be any construction for atleast another 6 months, if at all...and even if they built the basement, it is not clear, if these towers ever get built.

I don't think a couple of basement levels justify a skyscraper thread (neither in the proposal nor in the construction section).

Langur
May 9th, 2011, 12:36 PM
^ How on earth does it not warrant a place even in the proposal section given that it's already partly built, and soon to move to its second construction phase? This is already a lot further along than a mere proposal.

PortoNuts
June 10th, 2011, 10:34 PM
JP Morgan begins hunt for London HQ tenants

JP Morgan has begun looking for new tenants to occupy its existing City of London headquarters as it prepares its relocation to the former Lehman Brothers building in Canary Wharf.

The U.S. investment bank has instructed two property consultants DTZ and Cushman & Wakefield to sublet over 700,000 sq ft of office space at its City of London offices in Alban Gate and Aldermanbury Square.

The bank is scheduled to relocate from the two locations to 25 Bank St. in Canary Wharf by next year, after agreeing to pay the Canary Wharf Group GBP495 million for the 1 million sq ft former Lehman building, and plans to use it as its European investment bank headquarters from 2012. The move will occur at some point in first quarter of that year, according to a source with knowledge of the situation.

The decision to move to Bank Street came after JP Morgan had signed a previous deal with CWG, paying GBP237.9 million in November 2008 for land at Riverside South, a new site in the Docklands estate, where it had envisaged building a GBP1.5 billion project to build 1.9 million sq ft of office space across two towers.

JP Morgan still owns the Riverside South land--and has instructed CWG to continue building to street level--but has extended the development contract from 2013 to 2016.

DTZ, which advised JP Morgan on its relocation to Canary Wharf, declined to comment on the appointment. JP Morgan confirmed the appointments, but declined to comment further.

The space will test the appetite of financial occupiers--the most likely type of tenant for the space due to its large scale. According to research released today by Cushman & Wakefield, financial institutions' appetite for European office space across is recovering strongly from its post-crisis nadir.

Take up of office space by banks across Europe between April 2010 and March 2011 was 20% above the five year average, according to the firm, with 1 million sq m (10.7 million sq ft) let--more than double the figure for 2009 and 2010. Of these, London was the most active market in Europe--with nearly 300,000 sq m of take-up, amounting to 27% of the total.

The last quarter of 2010 was particularly strong for London, with major deals sealed for French bank BNP Paribas' (BNP.FR) new headquarters at King's Cross and JP Morgan's confirmation of its own Canary Wharf move.

One potential tenant for the Alban Gate space is Schroders, according to commercial property trade publication, Estates Gazette, which said the U.K. asset management firm had been expressing an interest in relocating from its current Gresham Street home to Alban Gate.

It reported that Schroders is looking for more than 170,000 sq ft for a new headquarters - having previously eyed a potential move to a new skyscraper on Bishopsgate called The Pinnacle, which is also known as The Helter Skelter.

A spokeswoman at Schroders said that it "has no active requirement at present." However, she confirmed that it had appointed agent Knight Frank "to undertake a preliminary assessment of the City market as part of our longer-term planning process and identification of potential future options."

Sources at Knight Frank said that the firm was not considering the JP Morgan buildings on behalf of Schroders.

http://www.marketwatch.com/story/jp-morgan-begins-hunt-for-london-hq-tenants-2011-06-10

desertpunk
July 29th, 2011, 01:02 AM
http://farm7.static.flickr.com/6029/5953019908_43c48de73e_b.jpg (http://www.flickr.com/photos/tiascapes/5953019908/)
Downtown London? (http://www.flickr.com/photos/tiascapes/5953019908/) by TIA International Photography (http://www.flickr.com/people/tiascapes/), on Flickr

LondonFox
July 29th, 2011, 10:45 AM
So, nothing is happening with this now then... ? JP are just holding land with no intention..

Freethinker84
July 29th, 2011, 11:06 AM
By the sound of it they're getting the basement levels complete on a drawn out basis then seeing how the office market pans out. Demand for office space in CW is not exactly overwhelming at present, especially as the City will be getting flooded with rival high spec space. Probably end up with a smaller scheme just as the next recession hits.

djm160190
July 29th, 2011, 02:54 PM
personally I think a smaller scheme would look better - i don't really like the current design of this.

desertpunk
July 29th, 2011, 03:27 PM
So, nothing is happening with this now then... ? JP are just holding land with no intention..

They're "studying" their options. Word was they would build the site to street level and hold the site and the 999 year lease for future investment, but obviously no work to take that foundation out of the weather has begun.

LondonFox
July 29th, 2011, 03:49 PM
They should just tell JP to go sling it if they aren't going to build ..

PortoNuts
July 29th, 2011, 05:41 PM
If they have no interest in that plot of land why don't they just sell it to a developer? CW Group for a start?

Dale
July 29th, 2011, 05:50 PM
They should just tell JP to go sling it if they aren't going to build ..

Isn't it the other way round ? Isn't JP telling London to 'sling it' because the pitchfork-wielding mob wants to punish the banks ?

SO143
July 29th, 2011, 06:19 PM
personally I think a smaller scheme would look better - i don't really like the current design of this.

+1

I don't like these sort of fat, chunky, think and short towers. :ohno:

desertpunk
July 29th, 2011, 06:23 PM
They should just tell JP to go sling it if they aren't going to build ..

When the land was leased there should have been a clause requiring development to begin within 5 years after which, the leasehold expires. JPM really screwed everyone over.

PortoNuts
July 29th, 2011, 10:43 PM
+1

I don't like these sort of fat, chunky, think and short towers. :ohno:

That's the style that works best for CW though. :)

daniel_hermès
July 29th, 2011, 10:54 PM
I dont really know why in london there are " skyscrapers" everywhere ... I think it could be much better that they were bulid in canary wharf... Every city has a business center or quartier des affaires.. so.. dont really understand why they are destroying the skyline of London with these monsters... In my opinion all the midrise bulidings who are at the moment under construction should be located in CW and let london with the classicism, and do like in paris... where the financial center is La Defense and every construction which is gonna be built has a top height. :)


My heart beats for Paris :bowtie:

chjbolton
July 30th, 2011, 09:07 PM
I used to think the same way but London and its mess just grows on you. Take my words for it ;)

delores
July 31st, 2011, 04:30 AM
thankfully it isn't zoned it makes London incredibly diverse and messy in parts but that's it's ultimate driving force and raison d'etre.

SO143
August 30th, 2011, 03:16 AM
:cheers:

Canary Wharf development continues with new tower

http://www.guardian.co.uk/business/2011/aug/08/canary-wharf-new-tower-development

aarhusforever
August 30th, 2011, 03:51 PM
...well, i guess it's better that nothing..but DAMMIT...I really loved this project :(

SkyscraperSuperman
August 30th, 2011, 04:51 PM
...well, i guess it's better that nothing..but DAMMIT...I really loved this project :(
It's not totally dead yet, you know. Sure there's not much happening, but it's not cancelled. The tower that SO143's link refers to is a completely different building, being built on the other side of Canary Wharf (not sure why he posted the link here, even though the article does briefly mention Riverside South, it doesn't actually give us much news on it).

aarhusforever
August 30th, 2011, 05:08 PM
^^ Thanks for the info :) I'll keep my fingers crossed then :)

Frankus Maximus
August 30th, 2011, 05:41 PM
^^ Thanks for the info :) I'll keep my fingers crossed then :)

aarhusforever - It was previously announced that basement construction (up to ground level) would commence Septembet/October 2011. Once the basement levels are complete the future of the project will be reviewed. I hope this helps.

aarhusforever
August 30th, 2011, 05:56 PM
aarhusforever - It was previously announced that basement construction (up to ground level) would commence Septembet/October 2011. Once the basement levels are complete the future of the project will be reviewed. I hope this helps.

Thanks for the info :)

adam_uk
August 30th, 2011, 11:20 PM
untill the construction resume lets keep this one on proposed forums.

PortoNuts
September 12th, 2011, 08:02 PM
If they build the basement levels now, the whole project can't undergo major changes because I suppose those levels are part of this proposal.

Frankus Maximus
September 17th, 2011, 01:19 PM
If they build the basement levels now, the whole project can't undergo major changes because I suppose those levels are part of this proposal.

Unfortunately, they would still have the option to construct shorter buildings.

SO143
October 6th, 2011, 08:19 PM
http://www.richardrogers.co.uk/Asp/uploadedFiles/image/3410_Canary%20Riverside/design/3410_0138_1_w.jpg

http://img.photobucket.com/albums/v496/Fatmonkey/London/53RiversideSouthTower1_pic3.jpg

http://i3.tinypic.com/241tema.jpg
by Richard Rogers

jonnyboy
October 6th, 2011, 09:26 PM
why?

Axelferis
October 6th, 2011, 09:35 PM
great

gazzab1990
October 6th, 2011, 10:14 PM
Those renders all show the old (superior) design.

SkyscraperSuperman
October 7th, 2011, 01:04 AM
There was no point in bumping the thread just to show some old renders...

PortoNuts
October 9th, 2011, 10:44 PM
by The Shard Baby.

http://farm7.static.flickr.com/6057/6225542766_e5390130be_z.jpg (http://www.flickr.com/photos/theshardbaby2/6225542766/)
Riverside South diagram (http://www.flickr.com/photos/theshardbaby2/6225542766/) by The Shard Baby 2 (http://www.flickr.com/people/theshardbaby2/), on Flickr

SO143
October 10th, 2011, 12:35 PM
I don't feel like these towers will be built until the end of 2012 :nuts:

Andre_Filipe
January 22nd, 2012, 12:54 PM
No status change?