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Old March 17th, 2011, 07:06 PM   #1401
MattToronto
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I didn't realize they had only secured funds to ground floor. This is great news that they can get the remaining balance of the £1 billion budget! Anyone think we'll see a signage handed out like Leadenhall to aid in financial security?
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Old March 17th, 2011, 07:16 PM   #1402
SO143
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Quote:
Originally Posted by Lord Razzle View Post

Possible guys re-clad FYI
Hospital love it

And when will The Pinnacle be completed? Same time like The Shard?
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Old March 17th, 2011, 08:25 PM   #1403
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Quote:
Originally Posted by Lord Razzle View Post

Possible guys re-clad FYI
That is the old design I think.

The new one is worse and looks like it will consist of a lick of white paint and new glazing.
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Old March 17th, 2011, 08:40 PM   #1404
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SO143, If all goes to plan the Pinnacle is due to be completed in 2013 (the Shard in 2012)
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Old March 17th, 2011, 09:17 PM   #1405
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Just to confirm the good news

Arab Investments closes in on remaining Pinnacle funding

17 March 2011 | By David Doyle., Mike Phillips

Arab Investments is in the final throes of securing the £1bn funding it needs to complete its 1m sq ft Pinnacle tower in the City of London.

The company has raised £480m through its own investors - leaving a £520m shortfall.

It is expected to announce in the next two weeks that it has secured this shortfall through a mixture of bank debt and its own additional equity. It is in the final stages of agreeing this funding.

Arab Investments is aiming to complete the tower in 2013 – in advance of British Land’s and Oxford Properties’ “Cheesegrater” and Land Securities’ and Canary Wharf Group’s “Walkie Talkie” – both scheduled for completion in 2014.

In November, Arab Investments secured a further £150m from the Saudi Economic and Development Holding Company to help secure development finance. The cash injection from Sedco, one of the 60 investors in the project, will help reduce the amount of bank debt needed to build the City scheme.

So far six floors of the 945ft tower have been completed.

Read more: http://www.propertyweek.com/news/ara...#ixzz1GsklsUPB
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Old March 17th, 2011, 09:31 PM   #1406
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why the change of contractors,plus on hold ,this is very shoddy bussinness .
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Old March 17th, 2011, 09:35 PM   #1407
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I am in heaven The London skyline gets its touch!
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Old March 18th, 2011, 04:09 AM   #1408
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Quote:
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why the change of contractors,plus on hold ,this is very shoddy bussinness .
Change of contractors? As far as I know the contractor is still Brookfield.
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Old March 18th, 2011, 07:01 PM   #1409
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Quote:
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Change of contractors? As far as I know the contractor is still Brookfield.
Indeed, still Brookfield. Plus a number of sub contractors for various works as usual.
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Old March 19th, 2011, 01:05 AM   #1410
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Good to see! Project should be back underway in due time then.
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Old March 19th, 2011, 11:14 PM   #1411
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I've been informed this is to get underway in April as I was told this funding would be likely in coming forward but I put it in the London construction forum about 2 weeks ago.

I am impressed they want this completed by 2013 - given the restrictions in the area and the design, that'll be impressive and very welcome!
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Old March 20th, 2011, 04:23 PM   #1412
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Still hold on but not for long. I think 2013 isnt possible i think 2014.
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Old March 23rd, 2011, 01:19 PM   #1413
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In London you'd be lucky if this is completed by 2013!
We used to joke at office that the London olympics were going to be held in 2013 instead but of course it's only a joke...
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Old March 23rd, 2011, 01:47 PM   #1414
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^ The London Olympics is so far ahead of schedule, we could probably host it this summer.
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Old March 23rd, 2011, 02:57 PM   #1415
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i suppose the plants, flowers, trees and grass are not ready yet. no?
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Old March 23rd, 2011, 06:27 PM   #1416
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Yet those of us in one of the major consultants helping out the Olympics said something different

Anyway I kept digressing! Any chance we may have some new updates of the Pinnacle?
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Old March 23rd, 2011, 09:45 PM   #1417
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Construction is likely to speed up soon.
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Old March 25th, 2011, 01:14 AM   #1418
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A great diagram by fellow member The Shard Baby.

image hosted on flickr

pinnacle today 24.3.2011 by The Shard Baby, on Flickr

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Old March 25th, 2011, 01:16 AM   #1419
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Quote:
Originally Posted by PortoNuts View Post
A great diagram by fellow member The Shard Baby.

image hosted on flickr

pinnacle today 24.3.2011 by The Shard Baby, on Flickr

Very nice job , Is the core really that high already?
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Old March 25th, 2011, 09:54 AM   #1420
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Nice Tower London is gonna have a pretty nice skyline in a few years well it's already nice.
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