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Old January 20th, 2014, 07:19 PM   #2081
SomeKindOfBug
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Leadenhall is way closer.

I think that's just a slapdash mockup. It doesn't look accurate in many different ways. It's just a background, after all.
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Old January 21st, 2014, 03:42 PM   #2082
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Quote:
Originally Posted by LondonFox View Post
I imagine that would be the view from Leadenhall?
Yes, The Leadenhall is is a lot closer. IF the Pinnacle is built, it will be practically next door neighbors with The Leadenhall (kind of)...

I believe it is meant to be a view from 20FS. But as the above said... it's not that accurate in any regard.
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Old January 21st, 2014, 04:43 PM   #2083
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Quote:
Originally Posted by LondonFox View Post
I imagine that would be the view from Leadenhall?
that would be the view from the top of monument.
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Old January 22nd, 2014, 06:15 PM   #2084
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Quote:
Originally Posted by lafta View Post
that would be the view from the top of monument.
I don't think so... as from the top of the monument 20FS is in front of the main cluster. It doesn't block the view but you would see it in the rendering.

I think the view might be from 20FS or an office building along Fenchurch Street.
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Old January 22nd, 2014, 08:15 PM   #2085
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Quote:
Originally Posted by Bligh View Post
I don't think so... as from the top of the monument 20FS is in front of the main cluster. It doesn't block the view but you would see it in the rendering.

I think the view might be from 20FS or an office building along Fenchurch Street.
im pretty sure its from the monument.

this is an old rendering (its the rendering on the hoarding of the construction site). why would the pinnacle people (back in 2008, or whenever it was put up) make extra effort by creating a render of 20fs from that particular angle? if a future skyline was that important to them surely the leadenhall building wouldve been included.
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Old January 22nd, 2014, 08:16 PM   #2086
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view from the top of monument.

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Old January 23rd, 2014, 03:44 AM   #2087
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Very nice. This tower looks sleek, sexy and Dubai-ish.
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Old January 23rd, 2014, 03:49 PM   #2088
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Quote:
Originally Posted by lafta View Post
view from the top of monument.

You know what.... I stand corrected. I think you're right. I think the image was just zoomed in more.

The only reason I said that was because I went to the Monument in the Summer and 20FS is clearly in view ^ even from that view point. You can see where 20FS should be in that picture.

But yes, well pointed out Sir!
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Old January 23rd, 2014, 09:48 PM   #2089
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Quote:
Originally Posted by Denjiro View Post
I found this on Flickr...

image hosted on flickr

Morning Mr Magpie by -hellcat-, on Flickr
Great view.
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Old January 24th, 2014, 03:19 PM   #2090
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Sorry I din't mean Leadenhall.. I meant Fenchurch St.
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Old January 24th, 2014, 03:48 PM   #2091
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First posted by 'London_Lad' on the London Projects page - but thought it belonged here as well:
Quote:
The Pinnacle: inside the £770m deal to save a skyscraper
By Jack Sidders | Office | 23-01-2014 | 18:30 | Print
Pinnacle south bank 300px

The riddle of The Pinnacle, the City’s most beleaguered skyscraper development, looks set to finally be solved, if its Middle Eastern owners can find a buyer willing to stump up £770m. Estates Gazette takes an exclusive first look at the complex deal that will unlock the project.

Principal owners Sedco, Wafra and Arab Investments have bought out Pramerica and have agreed to sell the freehold interest in the site to an investor willing to commit to speculative construction of a revised scheme, subject to a profit share.

Under the new structure, devised by adviser CBRE, buyers will be required to pay around £220m for the unencumbered freehold site at the junction of Bishopsgate and Threadneedle Street, and be able to finance the £550m build cost for an immediate start on site.

The revised scheme, including reconfigured retail space and a marginally reduced total floorspace with substantially higher occupational density, would be expected to net in the region of £1bn once fully let, assuming a yield of around 5%.

The new owner will be entitled to the first tranche of profit up to an agreed level, with the existing consortium then sharing in any “super” profits.

The exact threshold at which profits are shared will be subject to negotiation together with control over the leisure space at the top of the tower.

CBRE chairman Stephen Hubbard said: “When these building characteristics are combined with the proposed terms of the transaction we believe there is a real opportunity for an incoming investor to generate significant returns and own a truly rare asset.”

The level at which the profit share kicks in will “reflect the required rate of return for investors engaging in speculative development while also reflecting the trophy nature of the asset”, according to CBRE director Peter Coates.

CBRE is already engaged in initial talks with investors to gauge interest in the deal and will soon begin a global marketing campaign. Propcos with development management expertise in the UK have been briefed on the rough structure of the proposed deal on the assumption that any overseas investor will be likely to need on-the- ground expertise.

Khalid Affara’s Arab Investments is likely to sacrifice its role as development manager but will remain a beneficiary to the profit share.

HSH Nordbank, which issued the £145m loan to fund the £210m purchase of the site in 2007, will be repaid as part of the site sale.

Contractor Brookfield Multiplex, which settled a legal dispute over unpaid fees for work already completed early last year, will also receive around £20m from the sale as a second charge behind HSH.
Multiplex, engineer Arup, architect Kohn Pederson Fox and consultant Hilson Moran have costed the revised scheme, a process audited by Aecom, and agreed in principal to a guaranteed maximum price contract to complete the project.

CBRE has been approached by several investors that have drawn up radically revised plans for the tower. But Coates said: “The consortium will only consider parties who will develop the revised scheme.”

Alternatives have been ruled out because the need for a new planning consent would delay the consortium’s divestment and jeopardise viability. The City of London Corporation is satisfied the refined scheme does not require a new planning consent as the majority of changes are within the external envelope of the building.

The minimal external alterations are deemed minor material amendments that can be addressed through a section 73 application.

Were the scheme to go back to planning it would be subject to Crossrail and community infrastructure levies of around £20m.

The City has also firmly ruled out any proposals to incorporate alternative uses into the scheme, including residential.

CBRE hopes to have agreed a deal in principal by the end of March, with a view to work re-starting on site before the end of the year. Completion is anticipated in Q4 2017.

The consortium stands to make a substantial loss on the deal, having already spent between £450m and £500m on buying the site, design, planning, finance, legal fees and initial construction work including demolition, piling, the ground floor slab and core up to level six.

CBRE restructure finds it’s what’s on the inside that counts

At 945ft the revised tower will retain its would-be title as the tallest building in the City, as well as its distinctive helter-skelter design.

The external revisions have focused on simplifying the snakeskin cladding to standardise the size and shape of each panel to make it possible to mass produce them.


The more radical internal revisions include a new layout which effectively splits the building into two distinct offices, both accessed from Bishopsgate and Undershaft, but with separate entrances in the north and south cores, offering EC2 or EC3 postcodes to suit tenants’ preferences.

The first boasts 209,000 sq ft of office space over floors two to nine, with floorplates of 19,300 sq ft to 27,600 sq ft and enhanced heights to accommodate trading floors.

The occupational density of the space has been slashed to just one person per 6m² – half the original design.

The space will be marketed to a single large corporate occupier with conservative estimated rental values of around £55 per sq ft.

The tower floors will be accessed by a separate entrance to the south, with lifts leading to a double-height “sky lobby” on floors 10 and 11 (pictured), which could provide meeting, retail and restaurant space.
Office floors 12-53 will all be accessible from the sky lobby, in contrast to the previous design, which envisaged two lift changes to access the higher floors.

Its floorplates will range from around 21,000 sq ft to 6,000 sq ft, with floors 44-53 all boasting private balconies.

ERVs for the tower floors range up to £75 per sq ft.

CBRE director Peter Coates said: “We have adopted current day rents in our financial analysis, with ERVs included at a discount to rents being achieved today on equivalent floors in the Cheesegrater and the Walkie Talkie.”

The tower floors will boast an occupational density of 1:8 up to and including the 48th floor and 1:10 on floors 49-53.

To accommodate the increased density the building will require additional plant and around 50,000 sq ft of lettable space has therefore been sacrificed from the original design. Three floors of plant will sit above the office space.

“The original scheme envisaged a restaurant on floors 57-62, however, initial conversations with the City Corporation have indicated there is a broadly supportive view for conversion to a viewing gallery,” Coates said.

The consortium hopes to agree a long lease on the viewing gallery as part of the deal.

In total, the scheme will boast 974,135 sq ft of accommodation, of which 949,908 sq ft will be offices.

The viewing gallery will be reached via a double-decker lift, accessed from the ground and mezzanine floors of a self-contained lobby off the northern core by Bishopsgate.
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Old January 24th, 2014, 05:20 PM   #2092
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Unchanged height and unchanged appearance is all that really matters here.
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Old January 25th, 2014, 09:56 PM   #2093
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All that matters to me is: When do they resume construction.
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Old January 27th, 2014, 12:59 PM   #2094
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Quote:
Originally Posted by RobertWalpole View Post
It will be the same basic design -- not the same design, which was too costly. I just hope that the swirl at the top hasn't changed. It looks too small and ridiculous in the current rendering.
I believe that was an old very early rendering. The swirl at the top is probably more 'in tune' with the rest of the buildings.
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Old January 27th, 2014, 01:00 PM   #2095
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Quote:
Originally Posted by Eric Offereins View Post
All that matters to me is: When do they resume construction.
Most likely the end half of 2014...

I would say inbetween August-December. Most likely early Autumn.

But who knows...
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Old January 28th, 2014, 03:39 PM   #2096
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The Pinnacle - Londonist Article:

Source: http://londonist.com/2014/01/so-what...skyscraper.php

Quote:
So what happened? And will it ever get built?
Construction of the behemoth began in 2008, coinciding with the start of the credit crunch and a long period of economic woe (you might just remember). The project was always under financial pressure and stalled completely in March 2012 through lack of funds and interest from potential inhabitants (termed pre-lets).

Things went quiet. Then reports circulated that the building was being redesigned. Perhaps it would lose its distinctive shape, or be reduced in height. New plans might even call for the existing seven-storey concrete core to be demolished and rebuilt.

Towards the end of 2013, more details emerged. The project’s architect and developer had agreed to a major design review that would cut costs by radically altering the floor-plates. Fans of the scheme’s helter-skelter shape were relieved to find the exterior would be largely left alone, a decision that also reduced the need for fresh planning permissions.
Now, further details are out. The current owners, Sedco, Wafra and Arab Investments, plan to sell most of the freehold for £220 million to an investor willing to build the redesigned scheme speculatively (that is, going ahead without first finding commercial tenants). Agent CBRE is hopeful a deal can be announced in March, with building work resuming by the end of the year, and completion by the end of 2017. The optimism is driven by an improving economy and (believe it or not) a growing shortage of suitable office space in the financial centre.

What would this tower mean for Londoners? The new plans suggest that it could have a public viewing gallery on the upper floors — always a bonus, although it would be competing with similar views from the nearby Shard and, soon, the Walkie Talkie. As things currently stand, a new 288m building would mean that London could boast the first (Shard) and second (Pinnacle) tallest skyscrapers in the European Union, although Paris is working on several schemes that might take the crown. As its name suggests, The Pinnacle would also serve as a visual high point, uniting the mish-mash cluster of new towers in the Square Mile into something surely more harmonious.

Much, much more detail over at Estates Gazette.
Overall a very positive article. The Londonist seems to agree that the building will most likely be built.
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Old January 29th, 2014, 03:02 PM   #2097
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I'm all for a radical redesign. That area needs something sleek and simple amongst the Guerkin and Cheese-grater. The helter skelter concept is rubbish - belongs in China or Dubai.
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Old January 29th, 2014, 03:07 PM   #2098
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You'd best tread lightly around here mister.
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Old January 29th, 2014, 03:41 PM   #2099
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Quote:
Originally Posted by Joe.03 View Post
I'm all for a radical redesign. That area needs something sleek and simple amongst the Guerkin and Cheese-grater. The helter skelter concept is rubbish - belongs in China or Dubai.
You're entitled to your own opinion - but I believe that sucha design is needed in The City to add a personality. I think that such a design could indeed fit into a Chinese City or Dubai/Abu Dhabi - but the quality is of that the finest Chinese/Arab structures.

I do not think the tower is 'cheap looking' at all - I do not think any of the new London Skyscrapers do. In fact London has become famed not for the tallest skyscrapers in the world but one of the best in quality and design.

Like I said at the start; you are entitled to your own opinion - but a vast majority of Skyscraper Fans, professional Urban Planners, and politicians would disagree with you.
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Old January 31st, 2014, 03:57 PM   #2100
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I know some people have a genuine preference for more traditional, quieter architecture. I also think some people are a bit snobbish about something that holds so much popular appeal, as if it's somehow more intelligent to want a traditional, po-faced design. But I think the pinnacle does a beautiful job of uniting the existing cluster, and bringing harmony and a true pinnacle, to the skyline. I am proud of London for being brave enough to create something so different and ambitious
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