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Old April 18th, 2011, 08:42 PM   #2281
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London beats Dublin in battle for Twitter

Reports today suggest that Dublin has lost out to London in the battle to secure the new European headquarters of social networking site Twitter. Ireland had been touted as a possible location for the messaging firm’s European base but, seemingly, the company has already started recruiting in London.

According to reports today, the company has met with property agents in London and has visited locations in the west end.

Vacancies for a sales account manager, sales executive, business development mobile/electronics and communications manager, all based in London have been posted on the Twitter recruitment feed.

The European office – wherever it is – is due to open in 2012 and will focus on growing Twitter’s advertising base. Twitter has 200 million active global users, generating 65 million tweets a day.
http://businessandleadership.com/tec...ats-dublin-in/

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Twitter set to open London office

Twitter is set to open its European headquarters in London having begun a recruitment drive for its first offices outside of the US.

According to The Telegraph, the San Francisco social media company has already begun talks with property agents in London and visited locations in the West End of the city.

The office is expected to open next year and will be used to oversee Twitter’s European operations as it looks to monetise its offering. Katie Jacob Stanton, head of international strategy and special advisor to the US State Department’s office of innovation will head up the office.
http://www.thedrum.co.uk/news/2011/0...london-office/
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Old April 18th, 2011, 09:42 PM   #2282
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Given Ireland's extremely low corporation tax rate, etc, I would have thought Twitter would have followed the likes of Apple, Microsoft, Intel and Google by establishing their Euro HQ there.

I think this is a real vote of confidence in London and the UK.
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Old April 19th, 2011, 03:25 PM   #2283
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It would be good if they went to East London

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Twitter advertises for staff for its 'new London offices'

East London offices could be potentially on the cards for social networking site Twitter. According to reports, Twitter has launched a recruitment drive for staff to fill vacancies at its new base in the capital.

Positions are currently being advertised for and although the posts do not state exactly where the London offices will be, it is thought the east of the capital is the most likely.

Dublin and London were in the running to become the new European base for Twitter. Indeed, the Irish city may have been considered the favourite for many because of the strong presence of some of the leading technology brands in the world.

Google has its European headquarters in Dublin, along with rival social networking site Facebook.

Although an official press release has not yet been made public, the rumoured London offices for Twitter could simply confirm for many the prestigious status of the UK's capital for global companies.
http://www.mellersh.co.uk/News.aspx?ArticleId=800504777

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Former London offices of Labour 'centre of £50m scheme'

A £50 million joint venture has been revealed to turn the former London offices of the Labour Party's headquarters into a hostel. Moorfield and Safeland have joined together to transform the space at 144-152 Walworth Road in Elephant and Castle, Property Week reported.

The development was announced as it was suggested that the hostel sector in the capital needs improving. According to the resource, the former Labour London offices at John Smith House will be converted into a hostel with room for 400 beds.

Furthermore, the two companies are planning to turn more existing buildings found in important locations into hostels. The head office of the political party is now at 39 Victoria Street, London, with St James's Park Tube station and Westminster Cathedral within the vicinity.

It also has a head base at Eldon House, in the Regent Centre in Newcastle Upon Tyne, as well as 12 other offices throughout Scotland, Wales and England.
http://www.mellersh.co.uk/News.aspx?ArticleId=800505029
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Old April 19th, 2011, 08:23 PM   #2284
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The new UBS headquarters have been approved.

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£340m London Broadgate building approved

British Land and Blackstone have gained planning for the controversial new £340m office block at 5 Broadgate in the City of London. The scheme will provide a total net office floorspace for UBS of approximately 700,000 sq ft, and will include four trading floors capable of accommodating approximately 750 traders per floor.

The building will require demolition of buildings 4 and 6 at Broadgate, which prompted the Twentieth Century Society to call for Broadgate to be designated a conservation area. The planning committee said that the new UBS headquarters would allow the bank – and therefore the City – to grow.

Chris Grigg, Chief Executive of British Land, said: “The City, in its decision today, has acknowledged the importance of the current and future needs of key occupiers for attractive, flexible and sustainable floor space, the retention of UBS in Broadgate and the maintenance of London’s status as a world class financial centre.”

In its Committee Report, the City described 5 Broadgate as a “striking and eye catching addition to the new architecture of the City” and in its Design Review the Government’s design adviser, CABE, said that 5 Broadgate “is an exciting opportunity for a major new building in the City of London”.

The building is designed by Ken Shuttleworth at Make and will replace 3, 4 and 6 Broadgate. A new public route will be opened up east-west connecting Broadgate Circle with Sun Street Passage to provide a direct route to Liverpool Street Station and to Exchange Square to the north.

A new ‘gateway space’, known as Sun Street Square, with a café at the base of 3 Finsbury will be created to provide a new pedestrian crossing to Crown Placeand the northern approach to Finsbury Avenue Square will be redefined with new landscaping. Environmental measures will include low carbon energy with photovoltaics and solar thermal panels, reducing water consumption by rainwater harvesting and increasing biodiversity through the incorporation of green roofs and terraces.
http://www.constructionenquirer.com/...ding-approved/



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Old April 20th, 2011, 04:33 AM   #2285
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Ukraine's richest man snaps up Britain's most expensive flat... for £136MILLION (and he's already planning a £60m refit)

Ukraine's richest man has snapped up Britain's most expensive flat in a recording-breaking purchase. Rinat Akhmetov, 44, a self-made billionaire after investing in steel and coal mines, will soon have the keys to the priciest apartment in the One Hyde Park development in London's exclusive Knightsbridge - after forking out £136million.

But the penthouse, which has breathtaking views over Hyde Park and the London skyline, is unlikely to make a dent in Mr Akhmetov's reported £10billion fortune. The coal miner's son and father-of-two bought two apartments and had them knocked into one - and now he is planning a £60million refit of the interior of the three-storey penthouse.

According to the Financial Times, Elena Dovzhenko, spokeswoman for Mr Akhmetov, confirmed that the oligarch’s holding company, System Capital Management, had invested in the property. And 2009 accounts reveal that SCM is the leading financial and industrial group in Ukraine with assets of about £11.3billion.

Mr Akhmetov's new home does certainly not fall short in the luxury stakes.
The giant glass and concrete block of flats, sandwiched between Harvey Nichols and The Serpentine, was last year billed as the return of the super-rich to London's property market. At an asking price upwards of £6,000 per square foot, the luxury development – designed by Lord Rogers and masterminded by developer brothers Nicholas and Christian Candy – is said to be the most expensive residential property in the world.

The pair bought the site, formerly occupied by a grim 1950s office block, for £150million in 2004. With its 'fortress-like' security which includes iris-recognition systems in the lifts, panic rooms and bullet-proof glass, the design includes 15 different types of precious marble and whole forests of felled European oak.

The building also has a private cinema, 21m swimming pool, saunas, a gym, a golf simulator, a wine cellar, a valet service, concierge and room service from the Mandarin Oriental next door, not to mention an underground passage to a Heston Blumenthal restaurant. The cheapest home on offer, a humble one-bedroom flat, is said to cost £6.75million, with developers claiming that the majority cost between £27million and £33million.

Even the service charge is record-breaking. At £150 per square metre per year, the owners of the biggest units can expect to pay more than £100,000 annually. The identities of the buyers of One Hyde Park has been one of London's best-kept secrets with many guarded by confidentiality agreements with developers.

Estate agents and property analysts say the development proves the top end of the property market is booming as the financial elite - international businessmen and overseas investors - are looking for a safe place to invest.
About a quarter of buyers in the block are Middle Eastern, while one third are European.

One duplex apartment has been reserved by Mohammed Saud Sultan Al Qasimi, head of finance for the government of Sharjah, one of the United Arab Emirates. Another is under contract to London-based Vladimir Kim, a billionaire who is chairman of the Kazakhstan copper producer Kazakhmys, and another is being bought by Ray Grehan, the founder of Irish residential developer Glenkerrin.

According to the Land Registry, 33 flats have been registered with a combined value of £727million although Project Grande, owner of the building, said 45 sales were completed, but some are not yet on the register. About 30 flats are still to be sold worth about £125million. The previous most expensive flat was valued at £115million in a rival Central London development at St James’s Square in 2008.

EVERYBODY NEEDS GOOD NEIGHBOURS

Sheikhs, tycoons, and even one of the site's developers, have bought, or are said to be buying, properties at One Hyde Park include:

Vladimir Kim - chairman of copper producer Kazakhmys

A communist who became a fantastically rich capitalist, Kim led Kazakhstan’s mining giant Kazakhmys during the country’s communist era, and went on to work for Samsung as head of its Kazakhstan subsidiary. When the Samsung contract ended, the government transferred state-owned mining stock into Kim’s name. Last year he sold £840million of his stake but still holds £2.3billion.

Mohammed Saud Sultan al Qasimi - Head of finance for the Sharjah government

As well as being finance minister, al Qasimi is proprietor of Continental Foods, owner of the Dunkin’ Donuts franchise. The United Arab Emirates, to which Sharjah belongs, has been badly affected by the crash in its property market. Private investors started withdrawing funds and banks have cut lending, creating an atmosphere of panic and mistrust.

Ray Grehan - property developer

A former tiler, Grehan founded the construction company Glenkerrin with his brother Danny. In 2005 he bought the former Veterinary College in Dublin for £145million at the peak of the property boom. Ireland has since been devastated by recession and the college site is now valued at £34million. Grehan now relies on UK developments.

Krill Pisarev and Yuri Zhukov, property developers
The pair’s PIK Group became the largest listed developer in Russia and in 2008 its portfolio was valued at £6.25billion. Since then it has lost 98 per cent of its stock value. They could lose control of the company after Nomos bank demanded £172million for a loan payment and penalties.

Christian Candy - property developer who developed One Hyde Park with his brother Nicholas

Christian, 36, is said to be introverted with a dry sense of humour. After studying for a business degree, he went into the City before he and Nick, 37, started their property business with a £6,000 loan.

Sheik Hamad Bin Jassim Bin Jaber Al Thani - Prime Minister and Foreign Minister, Qatar

Sheik Hamad is also chairman of Qatar Holding, an investment fund set up to maximise the country’s return from oil and gas. Last May it bought Harrods for £1.5billion.
http://www.dailymail.co.uk/news/arti...=feeds-newsxml

Quote:
Oligarch buys £136m flat at Hyde Park

Rinat Akhmetov, Ukraine’s richest man, has bought the UK’s most expensive flat at the One Hyde Park residential development in London’s Knightsbridge, the FT has learnt.

Mr Akhmetov was behind the purchase of the penthouse, which sold for £136.6m. The identities of buyers at One Hyde Park have been one of London’s best-kept secrets, closely guarded by confidentiality agreements with the developers and protected by offshore ownership structures and Swiss corporate advisers.

Elena Dovzhenko, spokeswoman for Mr Akhmetov, confirmed that the oligarch’s holding company, System Capital Management, had invested in One Hyde Park. SCM is the leading financial and industrial group in Ukraine with assets of about $18.5bn (£11.3bn), according to its 2009 accounts. SCM described One Hyde Park as a “portfolio investment of SCM”.

Mr Akhmetov, whose wealth is estimated at about $16bn, is spending up to £60m on interior work on the three-storey penthouse.

London has become a playground for international businessmen and overseas investors looking for a safe-haven economy, leading to a boom in the prices of expensive homes. Prices have risen 30 per cent since the post-credit crunch low in March 2009, according to estate agent Knight Frank.

Prime London property benefited from the commodities bonanza that boosted the fortunes of investors from Russia and the former Soviet republics.

“One Hyde Park was the symbol of the property boom and there were some doubters,” said Nigel Lewis, property analyst at PrimeLocation.com. “The reality is the very top-end of the market is motoring. One Hyde Park is appealing to an exclusive set of property buyers.”

The owner of the building, Project Grande (Guernsey) Limited, is a joint venture between Christian Candy and the prime minister of Qatar.

So far 33 flats have been registered at the Land Registry with a combined value of £727.4m. According to Project Grande, total completed sales to date – about 45, although not all have been registered – have amounted to £963.5m. There are about 30 still to be sold, with deals worth about £125m expected this quarter.
http://www.ft.com/cms/s/0/c0061012-6...#axzz1K1Q8MY2x
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Old April 20th, 2011, 02:01 PM   #2286
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From Today's Guardian:

"Gherkin architect declares end of London skyscraper boomHeron Tower and Shard to be among the last of iconic buildings as austerity drive ushers in the era of 'ground-scrapers'


Share6 Comments (21) Julia Kollewe guardian.co.uk, Wednesday 20 April 2011 09.29 BST Article history
London skyline will have fewer high-rises as City embraces 'austere and efficient' buildings. Photograph: Toby Melville/Reuters
The architect of the Gherkin has declared that the "age of bling" is over in the City, pronouncing the end of the London skyscraper boom.

The recently-finished Heron Tower, along with the Shard, the Cheesegrater and the Walkie Talkie, which are still under construction and are due to open by 2014, will be the last generation of iconic skyscrapers, he says, as property developers turn to more modest, less expensive schemes. The towers were all conceived before the financial crisis and some of them were nearly scrapped during the property downturn.

"The age of bling is over," Ken Shuttleworth, the architect at Norman Foster's firm which designed the Gherkin, told Bloomberg News. He said the 40-storey tower, which opened in 2004, would never get off the ground today. "Money now drives everything, so if you can build something for half the price, you will." Tenants are demanding "austere and efficient" buildings that are more likely to be "ground-scrapers" than high-rises, he said. "The tall glass box is dead."

Tall buildings cost more to build than low-rise structures with the same amount of space. At the same time, many tenants are reluctant to pay a premium for being in a tower as belt-tightening continues.

Property tycoon Gerald Ronson recently admitted it will take about 18 months to let all space in his Heron Tower, with the lower floors going for about £55 a sq ft while the top floors will command more. Rents in the City today are around the same level as in the 1980s.

The Shard under construction in London. Photograph: Paul Owen for the Guardian Nonetheless, demand for office space in the City is on the rise again. Assuming that banks and other financial firms will be taking on 11,500 new staff over the next three years as the economy recovers, BNP Paribas Real Estate estimates that they will need an additional 1.6m sq ft of space – equivalent to four Shards or five Heron Towers.

Its research shows that typical take up in the City is 3.1m sq ft every year, and the banks' expansion will mean extra requirements of about 550,000 sq ft a year up to 2014. Two of the biggest new office buildings, the Cheesegrater and the Walkie Talkie, will not be completed until 2014.

Dan Bayley, head of central London at BNP Paribas Real Estate, said: "The general trend seems to be that the smaller – perhaps more nimble – occupiers expect to see the strongest growth; the really big banks are only expecting very modest growth. This suggests that the trend we have seen in the first quarter – more deals but fewer really big ones – is likely to continue."

According to DTZ Research, free space in the City amounted to 7.2m sq ft at the end of March. Availability has risen by 201,000 sq ft, nearly 3%, after December. Within this, the amount of secondhand space available is down by 8%, while new space grew by 14%."
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Old April 20th, 2011, 02:16 PM   #2287
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£340m London Broadgate building approved

London already has too many ground-skyscrapers all over the city. It would be great if they build a single tall skyscrapers rather than a bunch of short buildings everywhere.
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Old April 20th, 2011, 02:52 PM   #2288
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Aren't skyscrapers cost-effective? I thought people build skyscrapers because it's cheaper to build vertical rather than horizontal, especially in London (and central London) where land prices are high in the sky.
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Old April 20th, 2011, 04:53 PM   #2289
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Originally Posted by The seventh shape View Post
From Today's Guardian:

"Gherkin architect declares end of London skyscraper boomHeron Tower and Shard to be among the last of iconic buildings as austerity drive ushers in the era of 'ground-scrapers'


Share6 Comments (21) Julia Kollewe guardian.co.uk, Wednesday 20 April 2011 09.29 BST Article history
London skyline will have fewer high-rises as City embraces 'austere and efficient' buildings. Photograph: Toby Melville/Reuters
The architect of the Gherkin has declared that the "age of bling" is over in the City, pronouncing the end of the London skyscraper boom.

The recently-finished Heron Tower, along with the Shard, the Cheesegrater and the Walkie Talkie, which are still under construction and are due to open by 2014, will be the last generation of iconic skyscrapers, he says, as property developers turn to more modest, less expensive schemes. The towers were all conceived before the financial crisis and some of them were nearly scrapped during the property downturn.

"The age of bling is over," Ken Shuttleworth, the architect at Norman Foster's firm which designed the Gherkin, told Bloomberg News. He said the 40-storey tower, which opened in 2004, would never get off the ground today. "Money now drives everything, so if you can build something for half the price, you will." Tenants are demanding "austere and efficient" buildings that are more likely to be "ground-scrapers" than high-rises, he said. "The tall glass box is dead."

Tall buildings cost more to build than low-rise structures with the same amount of space. At the same time, many tenants are reluctant to pay a premium for being in a tower as belt-tightening continues.

Property tycoon Gerald Ronson recently admitted it will take about 18 months to let all space in his Heron Tower, with the lower floors going for about £55 a sq ft while the top floors will command more. Rents in the City today are around the same level as in the 1980s.

The Shard under construction in London. Photograph: Paul Owen for the Guardian Nonetheless, demand for office space in the City is on the rise again. Assuming that banks and other financial firms will be taking on 11,500 new staff over the next three years as the economy recovers, BNP Paribas Real Estate estimates that they will need an additional 1.6m sq ft of space – equivalent to four Shards or five Heron Towers.

Its research shows that typical take up in the City is 3.1m sq ft every year, and the banks' expansion will mean extra requirements of about 550,000 sq ft a year up to 2014. Two of the biggest new office buildings, the Cheesegrater and the Walkie Talkie, will not be completed until 2014.

Dan Bayley, head of central London at BNP Paribas Real Estate, said: "The general trend seems to be that the smaller – perhaps more nimble – occupiers expect to see the strongest growth; the really big banks are only expecting very modest growth. This suggests that the trend we have seen in the first quarter – more deals but fewer really big ones – is likely to continue."

According to DTZ Research, free space in the City amounted to 7.2m sq ft at the end of March. Availability has risen by 201,000 sq ft, nearly 3%, after December. Within this, the amount of secondhand space available is down by 8%, while new space grew by 14%."
*yawns* Someone makes a dour pronouncement like this once-a-decade.

And somehow they just keep building skyscrapers.
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Old April 20th, 2011, 08:03 PM   #2290
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Aren't skyscrapers cost-effective? I thought people build skyscrapers because it's cheaper to build vertical rather than horizontal, especially in London (and central London) where land prices are high in the sky.
It also depends on the needs of certain tenants. Many groundscrapers provide more office space than skyscrapers. This UBS headquarters for example will have the largest trading floors in London.

Besides, skyscrapers are less likely to get planning approval or funding because of views, etc.
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Old April 20th, 2011, 08:58 PM   #2291
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How can a 5-story building provide more space than a 10-story building occupying the same amount of land?
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Old April 20th, 2011, 09:04 PM   #2292
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Ken Shuttleworth is a Brummie - I wouldn't listen to him

(Ken - can we have some of London's skyscrapers in Brum then as we don't have enough space for groundscrapers)
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Old April 21st, 2011, 01:21 PM   #2293
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Luckily for Ken there are a lot of cities with developers in the U.S. that have arms wide open for groundscrapers, especially iconic ones which I'm sure he can provide. If only he could clad them with some fake brick or stone, it's what we like.
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Old April 21st, 2011, 03:46 PM   #2294
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How can a 5-story building provide more space than a 10-story building occupying the same amount of land?
In the same amount of land, it can't. But even if a company needed 5 floors, if you reduced the amount of land what would it turn into? A 10 floor building? That's still not a skyscraper.

Skyscrapers are mostly built speculatively, like Heron Tower and like I said, in a city like London they always take giant amounts of time to get approved. There's always controversies, funding problems, etc.
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Old April 21st, 2011, 04:21 PM   #2295
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Apple takes another bite out of London’s West End

Technology giant Apple has taken further office space in the West End of London at St Martin’s Courtyard. Apple will occupy 7,181 sq ft of office space at the Covent Garden mixed-use development paying £52 per sq ft on a 15 year lease to landlord Longmartin, which is a joint venture by Shaftsbury plc and The Mercers Company.

The property at 10 Slingsby Place is now fully let with August Equity also having signed up for first floor offices totalling 4.842 sq ft.

Elsewhere in the development, the multi-national personal healthcare manufacturer, PZ Cussons plc, has taken the entire 11,530 sq ft 14 Upper St Upper Martin's Lane on a 10-year lease. In January 2010, recruitment consultants, Robert Walters, took a prelet of 43,000 sq ft of offices in 11 Slingsby Place.

Commeting on the latest tenant, Shaftesbury plc Director, Simon Quayle said: "We are delighted to have attracted occupiers of the calibre of Apple, Robert Walters, PZ Cussons and August Equity to St Martin's Courtyard. The scheme's location and quality of offices together with exclusive shops, restaurants and contemporary living space is demonstrating how a complementary mix of uses can come together to provide a superb environment."

H2SO and EA Shaw are letting agents for the offices at St Martin's Courtyard. Cushman & Wakefield advised Apple while Cyril Leonard & Partners acted for August Equity.
http://www.freeofficesearch.co.uk/Of...ices-For-Apple
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Old April 21st, 2011, 11:18 PM   #2296
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Green light for London's first cable car

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London (CNN) -- Construction of a new cable car spanning London's River Thames will get underway this summer, London's mayor, Boris Johnson has announced.

The new 1.1-kilometer (0.68 miles) route will link the Greenwich Peninsula next to the O2 Arena with the Royal Docks on the north bank of the Thames and will cost an estimated £40 million ($65 million).

"This innovative airborne travel link will be a vital component in the ongoing renaissance of a vibrant easterly quarter of the Capital, providing a much needed river crossing," mayor Johnson said in a statement.

Transport for London (TfL) are hoping that building work on what will be the first urban transport system of its kind in the UK will be completed in time for the opening of the London 2012 Olympics on July 27.

The design by UK-based architects Wilkinson Eyre includes 34 separate gondola cabins, each carrying 10 passengers to a height of nearly 300 feet (90 meters) above the Thames.

A one way journey is expected to take five minutes. TfL says a total of 2,500 passengers will be transported every hour and anticipate two million people will use the cable car each year.

The building project will be led by construction company Mace who have experience of erecting some of London's more iconic modern structures, including the London Eye on the South Bank of the Thames and more recently "The Shard," which is currently being built at London Bridge in south London
http://edition.cnn.com/2011/WORLD/eu...ics.cable.car/
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Old April 22nd, 2011, 02:16 AM   #2297
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Great projects! Good to see London is always old and new at the same time...
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Old April 22nd, 2011, 08:23 PM   #2298
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Call to build new London homes

Boris Johnson, London mayor, should create a housing company to help launch new development in the capital, according to a key task force that pinpoints the need for investment of £34bn in new homes over the next four years.

The housing investment task force, which is chaired by Sir Peter Rogers, chief executive of the London Development Agency, will make a series of proposals to stimulate house building in London, as well as create better conditions for institutional investment. The report says the housing shortage was one of London’s biggest challenges and a potential threat to its economic growth.

In a draft of the group’s recommendations obtained by the Financial Times, the group says the mayor’s ambition to build 134,000 homes in the next four years will require £34bn of investment, of which construction costs will make up £7.2bn a year. It also calculates bringing all of London’s social housing stock up to the “Decent Homes” standard would cost £1.5bn. The task force says investment from the public sector is unlikely at a time of spending cuts, or spontaneously from the private sector given continuing economic uncertainty. Instead, it proposes measures to make it easier to access potential sources of finance. The LDA declined to comment before the report is published in May.

One recommendation is the creation of the Mayor’s Housing and Property Company, which will use public sector land with support from a panel of builders and residential managers to boost construction. It proposes that the Greater London Authority put up an initial number of sites as an equity stake in order to attract financing partners. The LDA hopes that by putting its own land into the company, other local authorities will follow suit. The proposal is similar to that being considered at a national level.

The report says: “This would ensure the public sector benefits from the uplift an area gets from regeneration, potentially creating a revolving fund for reinvestment. It would also underpin the initial viability of schemes as land costs are often around one-third of total development costs and exist for a fixed term rather than in perpetuity.” The task force says priority should be given to “unblocking” developments for which there is planning permission, or where planning permission is close to approval. To do this, it advises the mayor and London councils to set up a mediation panel that would relaunch stalled schemes. This body would look to “facilitate agreement between the GLA, boroughs and developers”, it says.

The group has also identified a professionally-run private rental sector as a way of alleviating pressure on the housing market, as well as attracting long-term institutional investors. It says proposals should be developed for a Decent Homes kitemark scheme for the private rented sector, with a “light-touch arrangement” for monitoring and reporting publicly on performance.

For more than a generation London has failed to build enough houses for its growing population, it says. This has made properties less affordable, affected quality of life and put a cap on economic growth.
http://www.ft.com/cms/s/0/ff9c5f6a-6...#axzz1KH1pu8j9
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Old April 22nd, 2011, 11:08 PM   #2299
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East London offices 'will be supported by new cable car'

East London offices are set to benefit from a new cable car which will support the current transport network. According to the mayor of London Boris Johnson, the new transport connection will go towards regenerating the east of the city, providing a river-crossing link for the Royal Victoria Docks and the Greenwich Peninsula.

He noted that travel time will be reduced to five minutes, helping to boost the new Enterprise Zone.

The Royal Docks of London were recently awarded such a status by the government. Mr Johnson said due to a number of financial breaks revealed in the Budget, the area should become an attractive one for businesses to establish a base, potentially creating thousands of new jobs.

London City Airport will also be served by the cable car, which could prove useful for companies with east London offices that regularly use the facility to send employees to other branches or to meet with clients. Work is expected to begin this summer on the new cable car.
http://www.mellersh.co.uk/News.aspx?ArticleId=800506892
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Old April 23rd, 2011, 06:08 PM   #2300
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Only significant Southbank office scheme this year gets underway

Developer Moorevale and their funding partner Rockspring’s 50,000 sq ft refurbishment of 65 Southwark Street has started on site, the only significant office-led scheme scheduled to start on Southbank this year or until March 2012.

Although 575,000 sq ft of office space on the Southbank will complete at The Shard in 2012, 65 Southwark Street will face little competition in meeting demand for new office space in Southwark outside of the London Bridge Quarter.

According to the latest figures from Midtown and Southbank property experts Farebrother, quarterly take-up has remained solid at around 150,000 sq ft, a trend likely to continue. Take-up outside of London Bridge and More London remains low as residential-led and hotel schemes absorb rare office development opportunities.

Commenting on the Southward Street scheme, Mike Probert of Moorevale said: “We feel extremely confident in building-out into the Southbank market. The pipeline is dry and will stay that way up to and beyond completion of 65 Southwark Street early next year.”
http://www.freeofficesearch.co.uk/Of...-Gets-Underway

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West End offices opened by US marketing company

BackBay Communications revealed its London headquarters will help service its European and UK clients. Clients in the region were previously dealt with by staff at its New York and Boston offices.

However, president of the company Bill Haynes explained that because its financial services clients are becoming "increasingly global, we believe this is an ideal time to open an office in one of the world's leading centres for international finance to serve existing clients and attract new ones".

Indeed, a previous Global Financial Centres Index reported by thinktank Z/Yen showed that out of 75 destinations across the globe, London has the leading financial services hub.

The private banking, wealth management and professional services sectors were also rated the best in the world. On a European basis, the UK's capital also took first place, with Zurich, Geneva and Frankfurt taking up the following three places.
http://www.mellersh.co.uk/News.aspx?ArticleId=800508782
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