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Old August 12th, 2010, 03:26 PM   #481
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Quote:
Originally Posted by Noostairz View Post
^ i was in that sainsbury's two days ago buying a ceaser salad - random fact for you all.
I was in Liverpol Street station and wanted a drink, so walked all the way to this sainsburys to buy some, just so I could use my discount card.

I also took a photo of the site of this tower which turned out to be rubbish.

There was a lot of noise however coming from inside the hoardings. You know, the random banging you get at construction sites.
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Old August 12th, 2010, 03:28 PM   #482
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I think this webcam image is from June 2008 lol.
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Old August 12th, 2010, 04:05 PM   #483
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Indeed, there was no cladding on that building the last time I walked past.
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Old August 30th, 2010, 05:57 PM   #484
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Any new development on this?
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Old August 31st, 2010, 05:11 PM   #485
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The site has been all cleared. Construction is due to begin, at least from recent news.

by mattomatto.

image hosted on flickr
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Old September 5th, 2010, 03:35 AM   #486
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LandSecs to partner with CWG on London office - sources

Land Securities is set to bring in Songbird's Canary Wharf Group (CWG) as a partner to build a new skyscraper in London's City financial district, sources close to the deal said on Friday.

Land Securities, the UK's largest listed property company, is likely to announce the joint venture for the project at 20 Fenchurch Street, better known as the Walkie Talkie, later this month, the sources familiar with the deal told Reuters.

CWG, about 70 percent owned by Songbird, is expected to provide construction services to the joint venture, one source said, without providing the financial details.

"It looks to be a winning combination ... for CWG they can diversify from the Canary Wharf district, and for Land Secs they will be working with a developer that has one of the best construction records," JPMorgan analyst Harm Meijer said.

Execution Noble analyst Michael Burt said Land Secs would also benefit by spreading its risk on the speculative development -- that is, embarking on a new development without signing on pre-lets.

At 1515 GMT, Songbird's share price reversed an earlier loss of 0.7 percent to rise 0.7 percent, while Land Secs gained 1.7 percent, ahead of the 0.9 percent increase in the broader UK property stocks index.

Land Secs, Britain's largest commercial landlord with more than 29 million square feet of property, and Songbird, whose top shareholders include sovereign wealth funds Qatar Investment Authority and China Investment Corporation, declined to comment.

The deal will allow CWG to maintain a foothold in the City office market, which is seeing a revival in rents, after a joint venture that included CWG disposed of Drapers Garden last month.

The Drapers Garden project, which sold for 242.5 million pounds to private equity group Evans Randall, was CWG's last project in the City district.

"Post-Drapers Garden completing, and given JPMorgan isn't doing anything yet on the site they acquired in Canary Wharf, you could argue the deal will help Songbird to justify the development overheads in the business," Burt said.

U.S. banking giant JPMorgan has yet to decide if it will proceed with construction on the new $3 billion, 1.9 million square feet London headquarters, a reflection of wider concerns about stricter banking regulations.

The Walkie Talkie will comprise about 660,000 square feet of offices and 23,000 square feet of retail space, and has received planning permission with a targeted completion of 2014. In July, Land Secs said talks were progressing on a possible joint venture for the Rafael Vinoly designed building, without naming the party, as it restarts plans for new malls and offices in the rebounding UK property market.

http://uk.reuters.com/article/idUKTRE6823EA20100903
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Old September 25th, 2010, 05:51 PM   #487
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Quote:
Songbird Estates sets sights on City with ‘Walkie-Talkie’ tower



Canary Wharf owner Songbird Estates was eyeing plans to strike into the heart of the City today with talks over a joint venture to build the “Walkie-Talkie”.

Songbird is in discussions with blue-chip developer Land Securities to bring forward the scheme at 20 Fenchurch Street as part of its strategy of spreading its portfolio away from Docklands.

A 50-50 tie-up would also spread the development risk of the 36-storey tower designed by award-winning architect Rafael Vinoly, which will stand 160 metres high and is distinguished by its sloped sides.

If the Walkie-Talkie goes ahead — which is likely to depend on finding a substantial, pre-let tenant — it would be a major confidence boost for commercial development in the capital which has seen scheme after scheme shelved in the recession.

Songbird is likely to spin off around 35% of its share to its own major shareholders, which include the China Investment Corporation and state-backed fund Qatar Holding, leaving it with a 15% holding. Its only previous development in the Square Mile was the Drapers Gardens project recently sold for £242.5 million.

Songbird chairman David Pritchard said: “It's not a done deal at this point, but discussions are going well.”

The group — whose roster of Docklands tenants includes Barclays, Allen & Overy and Clifford Chance — also announced a £140 million open offer to shareholders to clear a Commerzbank loan linked to its £1 billion refinancing last year.

This should save it £11.5 million in interest and fees.

Pritchard reported “significant” demand for new space with 218,000 square feet in lettings during the first half. Oil giant Shell's move to 40 Bank Street accounted for the bulk of this.

“Against the backdrop of a market which has been quite difficult that is an achievement,” he said.

Songbird is set to benefit from a shortage of the new office space due to the development drought.

“It is a balance between an economic outlook which is uncertain but the supply and demand situation is also favourable,” Pritchard said.

Market watchers are also waiting to see whether investment bank JPMorgan will opt to build its own headquarters at Canary Wharf's Riverside South site or opt to lease the vacant Lehman Brothers building.

Songbird said a decision was expected in the “next few months”.

The overall market value of its portfolio was up 4.3% to £4.78 billion in the first half of 2010 and net asset value per share was up 10p to 178p.

Recovering property values also saw Songbird move back into the black with £13.1 million in pre-tax profits against a £89.7 million loss last year.
http://www.thisislondon.co.uk/standa...alkie-plans.do
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Old September 29th, 2010, 09:58 PM   #488
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http://secretrich.tk/ SECRET RICH
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Old October 20th, 2010, 12:18 AM   #489
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Quote:
Work to start on Walkie-Talkie after Land Securities deal


Shaping the skyline: the proposed tower at 20 Fenchurch Street

London's skyline is to gain a striking new addition after developers agreed to go ahead with the 160-metre “Walkie-Talkie” tower in the City today.

Work will begin immediately on the £500 million, 37-storey building at 20 Fenchurch Street, designed by award-winning architect Rafael Viñoly.

It will feature 690,000 square feet of office space and a “skygarden”, developed with Kew Gardens, open to the public on the top three floors. It is due to be completed in 2014.

Property firm Land Securities has been in talks with the Canary Wharf Group since June over a tie-up to build the Walkie-Talkie. The project received planning permission last year but was shelved in the downturn. Other investors include China Investment Corporation and Qatar Holding.

The approval of the building is another sign of reviving confidence in the City after development stopped in the recession. The skyscraper will join other major projects such as the Shard at London Bridge, although other schemes such as Leadenhall Street's Cheesegrater' have yet to get the go ahead.

Robert Noel, managing director of Land Securities' London portfolio, said the transaction would enable the company to take forward other projects within its substantial development pipeline.

The deal will allow Canary Wharf Group to keep its foothold in the City office market, spreading over from its Docklands base, with rents in the Square Mile expected to rise by 37% to £58 per square foot by the end of 2012, broker Knight Frank estimates.
http://www.thisislondon.co.uk/standa...wharf-group.do

Quote:
Canary Wharf branches out into City of London with new skyscraper partnership



CANARY Wharf’s owners have ventured into the City with a 50/50 deal to develop a £500 million skyscraper.

CWG has formed the joint venture partnership with Land Securities to develop a 37-storey building at 20 Fenchurch Street in the heart of the Square Mile.

The land, currently a cleared site with some neighbouring shops, has been sold by Land Securities to the partnership for £90.2 million, in line with the March 2010 valuation.

Both companies will be responsible for the leasing, with Canary Wharf Contractors Limited, a subsidiary of CWG, appointed as construction manager.

George Iacobescu, Chief Executive of Canary Wharf Group, said: “We are looking forward to this opportunity to apply our extensive experience as a developer of large, high specification and bespoke office buildings for a diverse range of clients.

“We are also delighted that on this occasion we will be working alongside Land Securities with its own impressive pedigree and track record. This joint venture project will provide further evidence of our approach to the development and construction of very high quality buildings in London.”

Planning consent for the proposed development was granted in October 2009. It will provide around 690,000 sq ft of space with a skygarden on the top three floors.
http://www.docklands24.co.uk/docklan...rship_1_684451
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Old October 23rd, 2010, 04:57 PM   #490
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City skyscrapers get the greenlight



London’s skyline is to be transformed after developers revived plans to build two of the most striking skyscrapers planned for the Square Mile since the development of Swiss Re’s Gherkin.

In a move regarded as a renewed vote of confidence in the City as a global financial centre, British Land, one of the country’s largest property companies, has committed to build its 740ft Cheesegrater with backing from one of Canada’s largest pension funds.

The decision to press ahead with the tower in the heart of London’s financial district caps an important week for the capital’s development. Land Securities, the biggest British developer, has also approved the building of a rival skyscraper, known as the Walkie Talkie because of its arresting top-heavy design.

Both towers, which will open by 2014, had been mothballed during the credit crisis when banks and financial service institutions reduced their City teams and froze office moves.

Developers have regained confidence in the growth of the City and predict a rise in demand for quality office space during the next few years. Their long-term bets on the rebound of the City property market have been backed by hundreds of millions of pounds of funding from international capital. The two towers alone have attracted money from Qatar, Canada and China.

Peter Rees, the City’s long-serving head of planning, said: “These towers reflect the City’s strength as a financial capital and its economic success, which is why they were stopped two years ago in the credit crunch but can restart again now. This is investors bringing money into London from outside the UK, money that would have been spent in New York or the Middle East.”

The skyscrapers will further alter the skyline of the City, which is already being reshaped by the emergence of the Heron tower on Bishopsgate and the new Rothschild headquarters next to Bank station.

Construction work is also under way on the Pinnacle tower, also known as the “Helter-Skelter”, as the developers seek to finalise a financing package with a consortium of international banks.

Next week, Land Securities will open One New Change, its shopping centre in the City next to St Paul’s Cathedral.

One New Change, which has become known as the Stealth Bomber because of its angular architecture, will be the first large-scale retail development for the City.

British Land will agree a joint venture to share the costs of development of the Cheesegrater with Oxford Properties, backed by an Ontario pension fund. The costs of the development are expected to be about £350m, with an additional cost to be shared on the value of the site. The deal could be announced as early as next week.

British Land was the first large developer to announce that it had stopped work on its tower in 2008, although it was soon followed by others as the lack of development finance and a fall in demand for new office space made building unworkable.

This development freeze has meant that fewer buildings will be delivered in the next few years, while there is a succession of large lease breaks among the City’s larger occupiers that could lead to new office moves.

British Land and Land Securities are also in talks to let office space in their buildings to Aon, the insurance group.

That would be the latest decision by a big insurance group to move to a landmark City building following the occupation of the Gherkin by Swiss Re and other prime offices by Willis and Lloyd’s of London.

British Land declined to comment on Friday night.
http://www.ft.com/cms/s/0/bcacbd16-d...44feabdc0.html
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Old October 28th, 2010, 12:44 AM   #491
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A post on fellow member leytonstonia's blog:

http://www.leytonstonia.com/2010/10/...ties-sign.html

British Land and Land Securities sign partnerships that will see the ‘Cheesegrater’ at 122 Leadenhall and the ‘Walkie Talkie’ at 20 Fenchurch Street start to rise

Last Tuesday, Land Securities, the UK’s largest Real Estate Investment Trust (REIT) announced that it had signed a joint partnership with the docklands developer, Canary Wharf Group (CWG) to deliver its controversial 37-storey skyscraper at 20 Fenchurch Street in the City of London, by now better known by its ‘Walkie Talkie’ moniker. Not to be outdone, British Land this week revealed that they too had signed heads of terms with Oxford Properties to develop ‘the Cheesegrater’, their 224m tall tower at 122 Leadenhall, which sits directly opposite Lloyd’s of London.

Whilst the Cheesegrater will be the first truly iconic building to rise in the square mile since the Gherkin, which topped out in 2003, and will form part of the ‘City cluster’ with the neighbouring Pinnacle and recently completed Heron Tower, the Walkie Talkie has proven highly contentious with the Rafael Viñoly-designed tower having to get through a public enquiry in 2007, yet still dividing opinion.

Nicknames apart, the two office schemes bare many similarities, not least the fact that both were victim of the global credit crunch and mothballed at the height of the recession in the UK when confidence in the City of London office market collapsed and rental values plunged. With demolition and preliminary basement works completed however, this has left each of the sites ready for construction to start immediately, and whilst both developments will reach practical complete in the second quarter of 2014, this is where Land Securities have the upper hand on their rival. As part of the deal with CWG, Canary Wharf Contractors, responsible for constructing much of the docklands estate will act as construction managers with work on the substructure starting immediately and completion to the ground floor level by February 2012.

Total development costs for 20 Fenchurch Street are expected to reach £500m, whilst interestingly British Land is stating that the cost of their Rogers, Stirk, Harbour and Partners-designed tower will come in at around £340m, although it remains unclear as to whether this cost includes those already incurred in the demolition of the previous building and subsequent basement works. Full construction of the 47-storey tower will commence in July 2011 however, with Bovis Lend Lease already tipped to win the construction tender process, which starts in January next year.

Both developers are keen to ensure that their buildings are opened up to those that live and work in the City, and in turn capture a slice of the highly lucrative restaurant trade, taking on Rhodes 24 at nearby Tower 42. Whilst Land Securities have opted for a three-storey sky garden on levels 34 to 36, which will offer a panoramic vista of London and the Shard across the river, the Cheesegrater has been designed around a seven-storey atrium, which will incorporate a bar at mezzanine level and a restaurant on level three. Directly above this will sit what British Land are marketing as the trading floors on levels four and five, which when added to the remaining floors right up to the 46th will offer potential suitors 576,000 sq ft of grade A office space.

The risk management, reinsurance and human capital consultant, Aon – better known for their sponsorship of Premier League giants Manchester United – have consistently been linked with space at 122 Leadenhall, which offers flexible floor plates from 21,000 sq ft on the lower levels to 6,000 sq ft, with the building having been designed so that each floor diminishes by 75cm progressively towards the top.

The 690,000 sq ft Walkie Talkie offers 30 floors of grade A space, from level three to 33, less than the 43 floors offered by the Cheesegrater yet with larger floor plates owing to the top-heavy design ranging from 14,000 sq ft to 28,000 sq ft, again with a small emphasis on trading floors. German investment bank, Deutsche Bank has been linked with taking space at the scheme.

With the Heron topped out and close to opening its doors, and the nearby Pinnacle close to agreeing a funding package that will take it past its initial construction phase, there is going to be a wave of high-quality office space coming onto the City of London market in 2014, however both British Land, Land Securities and their respective development partner are confident that the demand will be there and that their buildings can command rents not seen since before the credit crunch. Whatever happens, London’s skyline is changing and with rumours mounting that the American banking giant JP Morgan is about to given the green light at Riverside South, confidence in London as an international finance centre is also sky high.
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Old November 14th, 2010, 08:18 PM   #492
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When will construction start?
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Old November 29th, 2010, 12:18 PM   #493
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Pretty sweet building!
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Old December 13th, 2010, 12:42 AM   #494
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Quote:
Originally Posted by PortoNuts View Post
The site has been all cleared. Construction is due to begin, at least from recent news.
Is it already U/C at the moment?
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Old January 2nd, 2011, 12:21 PM   #495
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It will surely be U/C pretty soon.

Quote:
Office Tower | London | £500m

Winner: Canary Wharf Contractors

Location: London

Start: October 2010

Completion: May 2014

Contact: Email: [email protected]

Subbies: Work will start immediately on the £500m –Walkie Talkie— in Fenchurch Street with Canary Wharf Contractors as construction manager.
Completion to the ground floor level is planned for February 2012. Construction of the superstructure will follow, with completion of the project anticipated in the second quarter of 2014.
http://www.constructionenquirer.com/...py/sub-hunter/
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Old January 2nd, 2011, 01:42 PM   #496
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Personally, I don't like this building at all, but whatever floats your boat!
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Old January 2nd, 2011, 02:21 PM   #497
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This building will look the bees knees.

It also balances out St Paul's on the other side of the cluster. Although it could benefit greatly from more better strategic outside lighting. Maybe a splash of neon stripe to match pinnacle or stark white light up the sides to mirror St Paul's all over light?

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Old January 2nd, 2011, 03:52 PM   #498
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What a shame ! London, and especially the City , are so harmonious with a great and thinking skyline... and this " thing " 's gonna destroy this harmony. maybe exagerating but i'm almost upset... mince alors...
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Old January 2nd, 2011, 04:14 PM   #499
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Pas du tout d'accord mon pote...

I liked 20FS from day 1 & I really am delighted to read that its construction is imminent.

Its distinctive design might no be to everybody's liking, I personally love it. I particularly look forward to the skygardens' view.

As I said many times before, people who dislike/hate it now are likely to warm to like it gradually.
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Old January 2nd, 2011, 04:50 PM   #500
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What a shame ! London, and especially the City , are so harmonious with a great and thinking skyline... and this " thing " 's gonna destroy this harmony. maybe exagerating but i'm almost upset... mince alors...

Well, I don't think it is that bad at all, I like it!!

... at least it is not hideous ugly like 'tour phare'.
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