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Old January 12th, 2012, 05:48 PM   #1821
djm160190
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I can't see any progress in the last 3 weeks? Or am I missing something?
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Old January 12th, 2012, 07:36 PM   #1822
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Old January 12th, 2012, 07:37 PM   #1823
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What work is currently going on at the site? The core doesn't seem to have risen, are they starting steel works soon?
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Old January 15th, 2012, 12:57 PM   #1824
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by lumberjack

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Old January 16th, 2012, 06:57 PM   #1825
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it looks as if they are building some kind of a fortress or something! How much longer will it take these people to start building an actual first floor? All I see each time I check on this one here is just the base and not really a floor!
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Old January 17th, 2012, 07:17 AM   #1826
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Quote:
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it looks as if they are building some kind of a fortress or something! How much longer will it take these people to start building an actual first floor? All I see each time I check on this one here is just the base and not really a floor!
they are building one floor in 3 months the speed is depressingly slow. i think there must be an issue like they haven't got reasonable amount of tenants so the developers are not confident enough to build this tower like the construction speed of the shard. as far as i know the fund has been secured since last year though.
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Old January 17th, 2012, 08:48 AM   #1827
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I thought funds had been settled through the Canadian-English firm? I suppose without enough tenants there wouldn't be much point other than creating a fantastic, albeit empty building.
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Old January 17th, 2012, 08:50 AM   #1828
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Old January 17th, 2012, 11:55 AM   #1829
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Quote:
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I thought funds had been settled through the Canadian-English firm?
That's for 122 Leadenhall, a 225m tower under construction next door.
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Old January 18th, 2012, 02:46 PM   #1830
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Its a shame this is going really SLOW, imo its the best looking tower London will have.
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Old January 18th, 2012, 03:39 PM   #1831
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Quote:
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they are building one floor in 3 months the speed is depressingly slow. i think there must be an issue like they haven't got reasonable amount of tenants so the developers are not confident enough to build this tower like the construction speed of the shard. as far as i know the fund has been secured since last year though.
No idea, perhaps it is the location that makes it extemely difficult to build faster at all.

I know the area very well and many of the adjacent streets are pretty much "lanes" and "alleys', narrow and small and the density of the businesses there is at its best making it difficult for any machinery or what so ever to manouvre. So perhaps supplying such structure is also a point of concern for the builders.

If we compare the area in which this one is located in with that of lets say Trump Toronto, sure Trump Toronto loses big time. The intersections in an old city like London with such narrow roads and alleys and lets not mention the traffic that can be of a bigger concern, are perhpas the main factors of the slow process.
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Old January 18th, 2012, 03:40 PM   #1832
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Surley they would have planned for that though? I assume the Gerkin and Heron Tower went up quicker than this?
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Old January 18th, 2012, 06:12 PM   #1833
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But this one is much taller and bigger than Swiss RE and Vertigo or Heron
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Old January 18th, 2012, 09:41 PM   #1834
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Quote:
Originally Posted by DeFiBkIlLeR View Post
That's for 122 Leadenhall, a 225m tower under construction next door.
Ah you're right. Getting my projects mixed up.
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Old January 19th, 2012, 06:50 PM   #1835
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Quote:
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But this one is much taller and bigger than Swiss RE and Vertigo or Heron
Maybe, but that shouldn't slow construction down to this speed...
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Old January 19th, 2012, 07:09 PM   #1836
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Quote:
Originally Posted by CharlotteJ View Post
No idea, perhaps it is the location that makes it extemely difficult to build faster at all.

I know the area very well and many of the adjacent streets are pretty much "lanes" and "alleys', narrow and small and the density of the businesses there is at its best making it difficult for any machinery or what so ever to manouvre. So perhaps supplying such structure is also a point of concern for the builders.

If we compare the area in which this one is located in with that of lets say Trump Toronto, sure Trump Toronto loses big time. The intersections in an old city like London with such narrow roads and alleys and lets not mention the traffic that can be of a bigger concern, are perhpas the main factors of the slow process.
Wall Street in NY has very similar small, narrow streets and yet the towers go up as quickly as they do in Midtown.
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Old January 21st, 2012, 01:46 AM   #1837
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Didn't the developers claim they were going to press ahead without worrying whether they had secured any pre-lets? It may be that since then, because of the Euro crisis and continuing economic stagnation, they have changed their minds and will try and find tenants before resuming.

I have no information, this is just guess-work.
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Old January 21st, 2012, 05:58 PM   #1838
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Bad news, please don't kill the messenger :

http://uk.reuters.com/article/2012/0...80J1L020120120

London skyscraper stalls as builders down tools

01/20/2012

LONDON | Fri Jan 20, 2012 5:57pm GMT

(Reuters) - Construction of what will become the tallest skyscraper in London's financial district has stalled after builders downed tools over funding concerns, a source close to the matter told Reuters.

Canadian firm Brookfield Construction restarted building work on the Pinnacle tower late last year after it slowed to a virtual standstill as developer Arab Investments tried to secure the next stage of funding for the 945-feet tower.
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A deal was struck that included a 500 million pounds debt facility from a group of lenders including HSBC and HSH Nordbank, plus the injection of new equity from Saudi Arabia-based investor consortium Sedco.

It was reliant on the developer pre-letting a chunk of the tower to lower the scheme's risk, which it has not yet done. The tower is currently at an early stage of construction, appearing as a stump in the ground.

"About a week ago building work stopped," the source said. "The bottom line is that the Pinnacle will need looking at from a funding point of view or a sizeable pre-let which is difficult in this market."

A Brookfield spokesman declined to comment and Arab Investments was not immediately available for comment.

The 64-storey skyscraper is one of several under construction in central London. HSH has already provided 140 million pounds of debt to help buy and prepare the site for the main construction work while Sedco has put in several hundred million pounds to date.

Although developers had hoped to exploit a shortage of high quality office space over the next several years, the financial crisis has meant many companies are reluctant to sign pre-let deals that make such speculative schemes viable.

London skyscrapers the Shard, the Pinnacle, the Walkie Talkie, the Cheesegrater and the tower at 100 Bishopsgate are at varying stages of build and have only signed one office deal between them.

The story was reported earlier today by UK trade magazine Construction News.

(Reporting by Tom Bill; Editing by Helen Massy-Beresford)
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Old January 22nd, 2012, 02:25 AM   #1839
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Arrrgh! (But thanks for letting us know).
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Old January 22nd, 2012, 09:29 PM   #1840
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Thanks for the info... what a let down.
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