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Old October 8th, 2011, 01:03 AM   #2701
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Originally Posted by Axelferis View Post
westfield seems crazzy

i'll be in london by the end of october and i'll visit this
You going there next year?
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Old October 8th, 2011, 01:34 AM   #2702
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$1b more for DP World's London project

"This is the biggest project in Europe."




London: DP World, the world's third largest port operator, has said it will invest another $1 billion (Dh3.67 billion) in the London Gateway project over the next three years, which will create 36,000 jobs.

DP World's London Gateway, Britain's new global port and logistics centre project, is set to open in the fourth quarter of 2013 with an initial capacity of 1.6 million TEU (twenty-foot-equivalent units) and is built to accommodate the world's largest container ships. The total cost will be $1.6 billion.

Sultan Ahmad Bin Sulayem, Chairman of DP World, made the announcement yesterday in a press conference held at London Gateway, saying: "This is a unique project; it's the closest, deepest-water port near London, a city with a surrounding area where many consumers and retailers are available.

"This is the biggest project in Europe."

This was the first mention of the final date for the project and Bin Sulayem said the board had given the green light to start it.

"We are modelling this project after the Jebel Ali port and we are proud to take our UAE expertise abroad. The warehouse facilities will be able to accommodate up to a nine million square foot logistics park."

The biggest similarities between the two ports have to do with logistics; the fact that there's a port and free zone right next to it.

"With many ports around the world it's not easy to find space next to the ports. We were fortunate in Dubai to plan it that way and also in London," Bin Sulayem said. The experience in how they were able to attract people to Jebel Ali will also be useful here, he emphasised.

Funding of this project is completed now, according to Bin Sulayem and Mohammad Sharaf, chief executive of DP World.

"Part of the funding is from DP World and another part is long-term loans from financial institutions," they said. Already $600 million has been spent on the foundation work, which began in early 2010, and another $1 billion is expected to be invested over the next three years.

Also in attendance for this announcement yesterday was UK Business Secretary Dr Vince Cable, who outlined three reasons why the project is important: it is a big step forward in the country's infrastructure; it would create jobs for 36,000 people; and it is a boost to Britain's reputation as a host of inward investment.

Already 600 jobs have been created and DPW announced that another 1,000 will be created in the next months. UK businesses are expected to benefit from this project.

London's importance

Explaining why London was chosen for this mega project, Bin Sulayem said it was "mainly to give facilities to the shipping industry that is trading in this part of the world".

He added this was a unique opportunity because of the inter-nodal facilities (sea to rail to road) which will provide various forms of transport and be useful for giant companies.

Bin Sulayem also highlighted the fact that this project will provide logistics services.

Besides being close to London, the port will be one of the most important environment-friendly projects. It will have more than 148,000 tonnes of carbon dioxide savings per year. Bin Sulayem reiterated DPW's commitment to the UK economy saying: "Building a port is a long-term investment and you must look at the whole project. This will be welcomed by the shipping family."

Bin Sulayem also spoke of the need to open the port as soon as possible. He said: "This was the right timeframe and also a reflection of customers' demands and needs."

He also added that the UAE and United Kingdom have very close ties and this project would benefit both countries. It could also encourage Britain to invest further, he said.

Bin Sulayem also explained that more people will be employed in Dubai as a result of this project seeing as that is where the company's headquarters are.

Further commenting on why this project was chosen, as opposed to focusing more on emerging markets, Sharaf told Gulf News: "We always have a formula for choosing new projects and unless it meets the criteria, we won't do it."

Gateway is a key development for DP World, particularly because of its design, with a logistics park, close proximity to London, which is one of the most important trade hubs in the world, and because of it is the only port they own freehold."
http://gulfnews.com/business/shippin...oject-1.885066
http://www.reuters.com/article/2011/...7L43C620111004
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Old October 8th, 2011, 01:47 AM   #2703
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Brockton Capital is looking for a joint venture partner to facilitate a £400m residential scheme in the heart of Mayfair.

The real estate private equity group has spent five years assembling a site in the corner of Curzon Street and Bolton Street and has drawn up designs for a luxury apartment scheme. A year ago it secured the last of 21 deals required to piece the site together.

The project, which will mark the architectural debut of US architect Robert Stern, will include 20 apartments which will be marketed at around £4,500/ sq ft.

Stern has designed the development around a south facing garden, and the property would including the trapping of the super-luxury across four underground levels including a gym and a swimming pool.

David Marks, joint managing partner of Brockton Capital, told Property Week: “We have instructed Savills and Franc Warwick to talk to a few people on our behalf.

“The thing about London is investment could come from anywhere. It could come for the UK, from the Americas from the Middle East or Asia or India even.”

Brockton has also appointed Grantham, its development partner on its 40,000 sq ft apartment scheme at Buckingham Gate, as development partner on the Curzon Street scheme.

The site value is around £200m and the development cost is expected to be around a further £100m.

“I think this is the best development site in London,” Marks said. “It’s in the heart of Mayfair and yards from Berkeley Square. London needs more housing at both ends of the market.”

Marks said the company would be talking with Westminster council into 2012 and was hopeful that the project would be delivered in 2014 to 2015.

Franc Warwick and Savills are joint agents on the scheme.
http://www.propertyweek.com/news/new...025890.article
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Old October 8th, 2011, 01:52 AM   #2704
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Emirates buys place on Tube map in £36m cable car deal



One of the world's biggest airlines is set to start 'flying' passengers across the Thames in a deal that will see its brand name appear on every London Tube map.

Emirates, which sponsors Arsenal football club, can today be revealed as the backer of Boris Johnson's cable car project, which will link the O2 arena in Greenwich with the Excel exhibition centre at the Royal Docks.

As part of the £36million, 10-year deal for the new Emirates Air Line, the company will see its branding on all future versions of Harry Beck's Tube map design. Two new stations will be added to future versions of the map - Emirates Greenwich Peninsula and Emirates Royal Docks.

The cable car's "flight path" across the Thames will also be depicted on the maps in bright "Emirates red".

It is the first time corporate branding has appeared on the map.

The project, which Transport for London says could be completed by summer next year, will have 34 cable cars carrying 2,500 passengers an hour. The gondolas, about 160 feet above the river, will run every 30 seconds and the journey will take five minutes.

The scheme's cost was estimated to be about £25million when it was announced a year ago and the Mayor initially said that it would not be taxpayer funded.

The cost has now increased to £60million but a TfL spokesman today insisted they are "confident" they will recoup the rest of the money from European funding, further corporate sponsorship deals and fare revenue.

The Mayor today hailed the announcement. He said: "This multi-million pound deal is tremendous news for London, helping us to deliver a new addition to the city's skyline.

"The Emirates Air Line will be an exciting and innovative mode of transport easing travel for thousands and offering spectacular bird's eye vistas of our majestic Thames.

"The UK's first urban cable car will also act as a vibrant catalyst for the further regeneration of east London helping to attract jobs and investment for the benefit of Londoners."

It is not known if the cable car project, which critics have describes as a mayoral "vanity project", will be ready in time for the Olympics.

London Underground managing director Mike Brown said: "Main construction works began in July and we are on track to open next summer. Much of the manufacture, including the steel towers, is being done in the UK, boosting companies across the country."

Emirates Airline president Tim Clark said: "The Emirates Air Line will take off as an iconic landmark for London."
http://www.thisislondon.co.uk/standa...le-car-deal.do
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Old October 8th, 2011, 01:55 AM   #2705
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Grant for London Transport Museum project

BY PETE HAYMAN

London Transport Museum (LTM) has been handed more than £422,000 towards a project to restore the world's oldest known surviving example of an underground train carriage.

The Heritage Lottery Fund (HLF) has confirmed funding for the scheme, which is designed to help celebrate the 150th anniversary of the London Underground network

Built in 1892, Metropolitan Railway Jubilee Carriage Number 353 is to be restored and give visitors the opportunity to explore early underground railway travel.

Ffestiniog Railway will be responsible for undertaking the restoration work, while the grant will also help fund an apprentice working towards a NVQ2 Level 2 in Carpentry.

LTM director Sam Mullins said: "[The grant] will enable the museum to restore one of the oldest items in its collection and help to bring the heritage of the carriage and the London Underground to new communities and audiences across London."
http://www.attractionsmanagement.com...&site=AM&dom=N
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Old October 8th, 2011, 02:09 AM   #2706
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Google Snaps Up New Building in London's Startup District


In recent years Google's brand image has taken some hits in Europe due to privacy concerns surrounding its Street View service, but its latest move may shift public opinion in the company's favor—at least in London. Google announced plans to sign a ten-year lease on a seven-floor building in the heart of Britain's Tech City area in East London.

Directly supported by the U.K. government to spur technology business, the area is currently home to roughly 300 companies. Local techies sometimes also refer to the neighboring area as Silicon Roundabout, a clear nod to the epicenter of tech innovation, Silicon Valley. The new Tech City initiative was spearheaded by British Prime Minister David Cameron in an effort to make the area the "digital capital of Europe."

As for what the building will be used for, Google has yet to release details, but the company has confirmed that it will offer space in the building to budding tech startups and allow it to serve as a space for training, product demos, and the occasional hackathon.
One local entrepreneur, Sally Broom of the social tourism site Tripbod, thinks the development is a welcome boost from one the biggest names in tech.

"The situation is interesting because it brings a forward-thinking big digital corporate into the heart of a previously organic startup scene. Arguably, Google still maintains a startup ethos and has done a lot to support innovation in small companies, such as with the large number of free business events they host at their Victoria HQ—which we have attended and enjoyed. So it is notable that there is now a move towards 'Silicon' roundabout."

Nevertheless, Broom adds that, as with any major player, the local tech community will have to examine all of the pluses and minuses such a major investment represents. "[Local] acquisitions may be of interest, in which case forming early relationships makes sense. But is there a risk here? While Google grows ever bigger, do they lust after the energy and dynamism of these start-ups, and the talent within them? So it's great to see Google taking a keen interest and, as local businesses, we should appreciate and enjoy the benefits that follow. But we should also remember that there is no such thing as a free lunch."

Google hasn't revealed the total payout for the building lease, but it's likely far less than the $1.9 billion the company paid for its new Manhattan address just last year. If you want to learn more about Tech City you can visit the official site.
http://www.pcmag.com/article2/0,2817,2393906,00.asp
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Old October 8th, 2011, 02:13 AM   #2707
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London’s new-build ‘hot spots’ revealed



New-build property prices in London are in line for a boost, according to new research, as regeneration projects and new transport links make previously unloved areas more attractive to investors.

In its report on London Hotspots: Residential development opportunity areas, agent Knight Frank claims that certain areas of the capital undergoing major infrastructure improvements will see new-build property prices rise by more than 30 per cent between now and 2016.

Highest price growth is predicted for Nine Elms, in southwest London, where agents suggest residential prices could rise by as much as 140 per cent, to £1,800 per square foot.

Their projections are based on the opening of the new US embassy in 2017 – which is expected to transform the area’s identity – and the extension of the London Underground’s Northern Line.

Other areas attracting attention include the City of London, where new developments are expected to achieve prices of £2,000 per square foot – and an increase of 118 per cent.

This part of the capital has seen an influx of wealthy residents in the past five years, with demand likely to be sustained by the development of a new station at nearby Whitechapel, providing better transport links.
http://www.ft.com/cms/s/2/c2190880-e...#axzz1a8jxECMw
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Old October 8th, 2011, 02:18 AM   #2708
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Is the cable car a permanent feature then? Or will it be removed after the games...
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Old October 8th, 2011, 02:25 AM   #2709
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Is the cable car a permanent feature then? Or will it be removed after the games...
10 years deal? But, i think it will be permanent just like London Eye though. ( Although they said it's just a temporary structure)

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Mayor of London, Boris Johnson today announced that Dubai-based Emirates will sponsor London’s new cable car river crossing,
to be known as the Emirates Air Line, in a 10-year deal worth £36m.


The Emirates Air Line will connect north and south London, travelling between two new stations set to be named Emirates Greenwich Peninsula and Emirates Royal Docks.

Scheduled for completion in summer 2012, the new cable car will carry up to 2,500 people an hour across the Thames, providing a much-needed additional river crossing.

It will provide a direct link from ExCel, the UK's largest exhibition centre and home of the World Travel Market, and the O2 arena, Europe's largest entertainments venue. It will also provide an additional interchange between the Docklands Light Railway and Jubilee underground line.

The sponsorship deal will see Emirates putting up 80% of the cost of funding the new transport scheme, which is a key element in the Mayor’s vision to transform east London into a bustling metropolitan quarter teeming with new businesses, entertainment and leisure facilities supported by world-class transportation.

[b]Johnson said: “This multi-million pound deal is tremendous news for London, helping us to deliver a new addition to the city’s skyline. The Emirates Air Line will be an exciting and innovative mode of transport easing travel for thousands and offering spectacular bird’s eye vistas of our majestic Thames.[b]

"The UK’s first urban cable car will also act as a vibrant catalyst for the further regeneration of east London helping to attract jobs and investment for the benefit of Londoners.”
http://www.travelmole.com/stories/1149716.php
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Old October 8th, 2011, 02:27 AM   #2710
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Yeah, they said that about the London eye.... its still there.
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Old October 8th, 2011, 04:03 AM   #2711
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Olympic media centre legacy plans



Interested parties have nine weeks to submit their proposals for the 1 million ft2 media centre, which sits in the East Wick area of the 500 acre Olympic Park. The media centre will house 80,000 journalists during the Games. In legacy mode the broadcast centre can be reconfigured into four separate buildings.
http://www.building.co.uk/news/olymp...025677.article
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Old October 8th, 2011, 04:10 AM   #2712
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Old October 8th, 2011, 04:35 AM   #2713
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It amazes me how many massive projects are starting or already U/C in London, even after the worst recession in 50 years! (apparently)
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Old October 8th, 2011, 02:33 PM   #2714
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Yeah, but London eats recessions for breakfast.
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Old October 8th, 2011, 04:56 PM   #2715
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Is the cable car a permanent feature then? Or will it be removed after the games...
I'm sure it'll be permanent. What a utter waste of money if it was temporary.
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Old October 8th, 2011, 06:29 PM   #2716
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London’s Roads Will Get $2.81 Billion Overhaul Through 2020

Oct. 7 (Bloomberg) -- London’s transport authority and boroughs will spend as much as 1.81 billion pounds ($2.81 billion) upgrading and maintaining the city’s roads through 2020, according to contract proposals published today.

Transport for London and the 33 local governments are likely to ask five to seven contractors to compete for the work, which will cover the northeast, northwest, center and south of the city, the state-funded transport provider said in documents posted on a U.K. government procurement website. The total amount awarded would range from about 750 million pounds to 1.81 billion pounds, according to the documents.

“We’re looking for the most economically advantageous deal we can get,” Thomas Canning, a TFL spokesman, said by telephone. Each contract “would cover a selection of TFL roads and the boroughs within that area.”

Seeking bids jointly will bring “better efficiencies,” he said. TFL and each London borough had previously done their contracting separately.

The U.K. government plans to spend 200 billion pounds on infrastructure using a mix of public and private funding through 2015 as it seeks to boost a flagging economy. TFL is upgrading the city’s transport network with projects such as Crossrail, which will connect Heathrow Airport with the West End and the Canary Wharf financial district.

The contracts will also cover street lighting and may also cover “housing estates, green space, schools, bus stations, garages, car parks, crematoriums, cemeteries” and other sites, TFL said in the documents.
http://www.bloomberg.com/news/2011-1...ough-2020.html
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Old October 8th, 2011, 06:46 PM   #2717
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High-speed rail could link Gatwick and Heathrow airports in 15 minutes

A high-speed rail link could take passengers between Gatwick and Heathrow within 15 minutes, according to a new proposal drawn up by civil servants. The £5bn plan – creating a hub known as Heathwick – would mean there is no need to build another airport to serve London or expand the current facilities at Heathrow.

According to sources, officials at the Department for Transport have already put the idea to the airports and companies involved – but it remains only one option to be considered under the current aviation review. The plans are at an early stage and could easily run into opposition from Heathrow, which is owned by BAA and keen to expand on its own. Gatwick is owned by Global Infrastructure Partners.

There could also be protest from people who live near the area, including the Surrey constituents of Philip Hammond, the transport minister. To minimise disruption, the trains, travelling at 180mph, would largely follow the route of the M25 motorway and could be underground for part of the way.

Under the current proposals, passengers would not need to go through separate immigration procedures or check-in twice, because Gatwick and Heathrow would be considered part of the same aviation “hub”.

Ministers are under pressure from business groups to find a solution to lack of airport capacity in the South East, after the Coalition ruled out any more runways at Heathrow, Gatwick and Stansted. The main concern is that poor airport infrastructure is making Britain less competitive.

The British Chamber of Commerce first put forward plans for a "Heathwick" hub two years ago, but the idea has only gained ground during the current review of the UK’s aviation capacity. It would take some time to build the 35-mile line, but less than creating another new airport in the Thames Estuary, which is the favoured solution of London Mayor Boris Johnson.

The Department for Transport is planning to publish its aviation policy in the spring.
http://www.telegraph.co.uk/finance/n...5-minutes.html
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Old October 8th, 2011, 07:21 PM   #2718
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2012 Olympics sparks house price boom in east London

Fears for old East End neighbourhood as young professionals and penthouses push up Stratford house prices.

As night falls on The Grove in Stratford's town centre, the neon lighting casts a ghostly glow over the pavement. Passersby peer into the windows of one shop and wonder at the gleaming surfaces, the flat screens, the drinks cabinet. Among the betting shops, money lenders and a Perfect Fried Chicken, the new Foxtons certainly cuts a dash.

The latest branch of London's biggest, brashest estate agent threw open its doors last weekend with the aim of drumming up business just a stone's throw from the Olympic stadium. And it is not the only one: at least two other lettings agencies are setting up shop in the centre of this rapidly changing part of the capital. With less than 10 months before the Games start, and nearly one month after the opening of Westfield, the third largest shopping mall in the country, a part of east London that has been overlooked and underrated for decades is suddenly the place to be.

"It's all about Stratford," explained Kamran Younis of Century21 Cameron Adams. "It's an international focal point. I can only predict good things about it, and being here, amidst all this activity, it's very exciting." Alex Leigh, sales manager of the new Foxtons, agrees. The Olympics, he said, had "put the eye of the world" on Stratford. "It's brought attention to an area that perhaps wouldn't have had the same attention otherwise."

Since London won the bid in 2005, talk of east London's Olympic property boom has proved both myth and reality. Even amid the worst recession since the 1930s, it was assumed that at least one corner of the country would be impregnable to house price doom. For some, this is true: parts of Hackney have recorded average rises of up to 56% between July 2005 and May 2011. But for other, less gentrified areas, it has been a different story; in Stratford the increase was 13%.

Hopeful that the boom is just around the corner for the E15 postcode, Leigh and his estate agent colleagues see this as a golden opportunity to market the area aggressively as a "value-for-money" location and attract new – preferably young, professional – residents.

"Prices around here haven't taken off as they have in some areas," said Leigh. "But we're yet to see what the Olympic legacy will leave behind; we're yet to see what effect Westfield will have."

Younis was more direct: "I think Stratford, the way it's poised, is only going to go up and up."

With these kinds of predictions ringing in their ears, most Stratford property owners with no pressing need to move are standing firm, hopeful that their homes will rocket in value. Shop owner Aklakur Rahman, who has already watched his three-bedroom terraced house go up in value steadily over the past 16 years, wants to wait and see. "I don't think this boom is going to be short-term," he said.


Developers are erecting huge new blocks of flats and touting "luxury living" in a part of London better known more for poverty than penthouses. Some of these operate shared ownership schemes to make some flats more affordable, but even these are out of the reach of many locals. Among those for conventional sale, it is not uncommon for a two-bedroom flat to be valued at up to £350,000 – prices which one estate agent, who wanted to remain anonymous, said were "quite extortionate". Investors, aware of the sky-high rents possible for the Olympics, are buying them anyway.

The kind of people able to afford to live in the sleek new apartments are, increasingly, the young professionals on whose arrival Foxtons is counting. Carlos Aristizabal, a PhD student who moved into an apartment at the Lett Road development this week with his French sommelier wife, said they loved the area. "There's a lot going on in Stratford because of the Olympics, because of the new mall they built, Westfield. [It's] a very, very good place to live," said the 30-year-old.

...
http://www.guardian.co.uk/society/20...use-price-boom
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Old October 8th, 2011, 07:23 PM   #2719
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'Heathwick' plan to create London mega-airport revealed

AN $8 billion high-speed rail service linking London's Heathrow and Gatwick airports in 15 minutes is being considered by ministers in an attempt to maximise air capacity.


The 180mph (290kph) trains, leaving every five minutes, would hug the route of the M25 motorway and travel underground most of the way, according to early proposals, London's The Times reported.

The so-called "Heathwick" option would create the world's first "virtual hub" between two airports and provide a quicker and cheaper answer to Britain's capacity problems than a new airport in the Thames Estuary, according to supporters.

Amid warnings from business that Britain risks losing trade deals with China, Brazil and other emerging markets to countries that can offer seamless air links, ministers are anxious to find a solution that does not entail expansion at Heathrow.

Supporters argue that Heathwick would allow London's airports to compete more effectively with large European airports by encouraging more transfers. Low-cost carriers such as EasyJet would be encouraged to leave Gatwick for Stansted. It would also help the economy to recoup some of the £1.2 billion a year Britain currently loses to the Netherlands, Germany and France.

The idea is to be fed into the government's current review into aviation policy, which is examining how to expand air capacity around the capital without jeopardising green targets after the coalition overturned plans for a third runway at Heathrow.

"Anything that has the potential to distribute demand for access to London's airports when capacity is constrained has to be a good thing. We would be very pleased to discuss the idea further with ministers," Gatwick airport said.

Meanwhile airports operator BAA said, "A virtual hub between Heathrow and Gatwick faces insurmountable technical, operational, political and financial challenges, and would take many years to deliver. It provides no extra runway capacity in the South East, which is the key problem identified by the Department for Transport's own passenger forecast."

http://www.heraldsun.com.au/news/bre...-1226161985269
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Old October 8th, 2011, 07:38 PM   #2720
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Fitzrovia office-led scheme approved by Mayor Johnson

Derwent London has today announced that it has been granted planning permission by the Mayor of London for a major mixed use development to include a mix of residential, retail and office space in Fitzrovia, W1 at 80 Charlotte Street.



The 367,000 sq ft redevelopment will include 336,000 sq ft of office, residential and retail space at 80 Charlotte Street and 31,000 sq ft of residential at nearby 65 Whitfield Street and 1-8 Whitfield Place. In addition, a new public realm park will be created whilst retail units will enhance the ground floor frontage and identity.

Designed by leading architects Make, the new scheme will be part refurbishment and part new build with a substantial proportion of the existing structures retained thereby cutting waste and carbon emissions whilst reducing the construction period.

80 Charlotte Street is an island site of 1.4 acres that is located in the heart of Fitzrovia. Currently comprising 200,000 sq ft of out-dated offices which are let to Saatchi & Saatchi until March 2013, the new £125m scheme is expected to be delivered towards the end of 2015 and will be a major step in the wider regeneration of the area where the Group’s holdings total over 1.5m sq ft.

John Burns, Chief Executive at Derwent London, commented: “We are pleased that our 80 Charlotte Street planning application has been approved by the Mayor of London. This is a significant scheme for the Group and gives us the opportunity to transform the existing buildings into high quality offices that will form an exciting new office hub in keeping with the Derwent brand. The park and ground floor retail space will create new life and character to the streets of Fitzrovia and the new residential units, that include affordable housing, will provide a high quality living environment. We look forward to starting on site in 2013.”

Derwent has recently won a number of prestigious awards for its Angel Building development which comprises grade A office space in Clerkenwell, EC1. Voted one of ‘Britain’s Most Admired Companies’ in 2010, Derwent owns and manages 5.4m sq ft of primarily office space in the West End and areas bordering the City of London.
http://www.freeofficesearch.co.uk/Of...-Mayor-Johnson
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