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Old September 17th, 2007, 03:37 PM   #461
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From today's Evening Standard

Shard backer CLS warns global worries taking toll

Property group CLS, one of the backers of the Shard of Glass tower, today warned the US mortgage crisis was having a major impact on its business. The UK commercial property market was facing particularly tough times, he said: "This less-optimistic outlook may continue due to the recent concerns in the global finance market triggered by the falls in US subprime mortgage lending."

However, the company said it was confident the Shard would go ahead. Funding options were still under review, it said. Pre-tax profits fell 43.8% to £31.9 million in the six months to the end of June. Net rental income was down 2.4% at £32.4 million because of the sale of a property portfolio.
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Old September 17th, 2007, 06:21 PM   #462
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ok thanx for the anwser i am less ignorant now

so they are taking that ugly building down that make me even happier about this project
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Old September 18th, 2007, 09:11 PM   #463
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Some big, big news today...... it's looking very good for this project.

------------------------------



Shard bankers give Halabi 10 days to sell

By Danny Fortson
Published: 18 September 2007

The banks behind The Shard skyscraper have given Simon Halabi 10 days to sell out his one-third holding in the project, according to a key partner in the development to build Europe's tallest building.

Sten Mortstedt, the executive chairman of CLS, a partner on the project, said: "The banks don't want to have him in. He has got an offer from a third party to buy his shares, and he must decide within 10 days whether to accept."

http://news.independent.co.uk/busine...cle2973636.ece


------------------------------



Middle East backer could lift Shard off the ground

James Rossiter, Property Correspondent

Construction of Britain’s tallest building, the “Shard of Glass”, has ground to a halt over funding difficulties.

The three owners of the planned 310m (1,016ft) skyscraper at London Bridge are in talks with a new Middle Eastern backer to buy a one-third stake in the scheme owned by Simon Halabi. A deal may help to kick-start the troubled funding talks.

...

“We are in final negotiations with a bank and a new owner partner,” Mr Mortstedt said. Asked if the new owner would replace Mr Halabi, he replied: “Correct - he has to say yes or no to an offer.” The other backer is Sellar Property Group, but Mr Mortstedt said that he was happy with this company as an ongoing partner.

The new owner “has very deep pockets”, Mr Mortstedt said, and is understood to come from the Middle East. A five-year development loan is needed, worth about £350 million.


http://business.timesonline.co.uk/to...cle2477876.ece
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Old September 18th, 2007, 10:58 PM   #464
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http://www.bdonline.co.uk/story.asp?...0000000139ccc3

[IMG]http://i8.************/6g2nfgm.jpg[/IMG]


Piano's Shard will be built, says Ken

18 September, 2007
By Helen Crump

Mayor of London Ken Livingstone has guaranteed his support for Renzo Piano’s troubled Shard skyscraper.

Speaking at the launch of his first ever housing plan, the mayor said he had “no intention” of withdrawing from Transport for London’s commitment to take up a large amount of office space in the tower, which would be London’s first skyscraper with a public viewing point.

Speculation has been building in recent weeks over funding difficulties for the 310m-high building.

“I do think the Shard will be built,” Livingstone said. “It will be for London what the Empire State Building is for New York.”

The news came as the mayor said he would drive up the quality of new homes, revealing a massive building programme, including boosting by 50,000 the number of affordable homes built by 2011.
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Old September 19th, 2007, 01:17 AM   #465
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in my opinion, this tower is a copy from transamerica tower, but whit more glass
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Old September 19th, 2007, 02:27 AM   #466
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thanx for the updates wjfox.
and congrats, I always knew they would build it. financing is a b*** though.
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Old September 19th, 2007, 12:29 PM   #467
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Quote:
Originally Posted by wjfox2002 View Post
http://www.bdonline.co.uk/story.asp?...0000000139ccc3

[IMG]http://i8.************/6g2nfgm.jpg[/IMG]


Piano's Shard will be built, says Ken

18 September, 2007
By Helen Crump

Mayor of London Ken Livingstone has guaranteed his support for Renzo Piano’s troubled Shard skyscraper.

Speaking at the launch of his first ever housing plan, the mayor said he had “no intention” of withdrawing from Transport for London’s commitment to take up a large amount of office space in the tower, which would be London’s first skyscraper with a public viewing point.

Speculation has been building in recent weeks over funding difficulties for the 310m-high building.

“I do think the Shard will be built,” Livingstone said. “It will be for London what the Empire State Building is for New York.”

The news came as the mayor said he would drive up the quality of new homes, revealing a massive building programme, including boosting by 50,000 the number of affordable homes built by 2011.
That doesn't make any sense because Ken doesn't have anything to do with it. What if suddenly the company planning it go bust or something else happens that's unforeseen. Its such a big project and risk to take on its not likely that many other companies or people would take the project over if something happens.
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Old September 19th, 2007, 01:54 PM   #468
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Well, you could say that about any project...and the mayor was obviously just giving us confidence in that the Transport dept. was commited to taking up (a large amount) space in the tower. What's the problem there?
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Old September 19th, 2007, 03:58 PM   #469
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Latest update ...

Qatar is secret Shard investor

07:59 | 19.09.07

The Qatari government has emerged as the secret investor set to buy the one-third stake in the Shard of Glass development from Simon Halabi. Financial Times

The investment arm of the Qatari government is understood to have nudged ahead of rival Pramerica, the US financial institution, to secure the stake in the City of London skyscraper scheme.

Halabi fell out with the other two partners in the scheme, CLS and Sellar Properties, in a long-running dispute over the respective sizes of stake and project management fees.
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Old September 19th, 2007, 05:57 PM   #470
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Quote:
Originally Posted by building demolisher View Post
in my opinion, this tower is a copy from transamerica tower, but whit more glass
This argument has been made (and debunked) numerous times.


Anyway, good to see that the Qatari government is trying to get Halabi's stake. We should know in a week or so wether they are successful (Next friday I think?)

I can't see the Qatari government going bust lol.

Thank god for middle east investors. Thanks to them, Heron Tower is going aead, Bishopsgate Tower is going ahead, London got a nice new stadium (emirates) and they could be funding the Shard too. Excellent
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Old September 25th, 2007, 07:56 PM   #471
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will the heron and bishopsgate be a lot shorter than the shard?
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Old September 25th, 2007, 09:45 PM   #472
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Quote:
Originally Posted by the sock View Post
will the heron and bishopsgate be a lot shorter than the shard?
See here - http://skyscraperpage.com/diagrams/?30561812
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Old September 25th, 2007, 11:25 PM   #473
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thanx for that
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Old September 28th, 2007, 10:55 PM   #474
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will there be an obs deck and what floor ?
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Old September 29th, 2007, 12:34 AM   #475
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Thread says demo -- any progress? Pics?
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Old September 29th, 2007, 03:22 AM   #476
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Quote:
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will there be an obs deck and what floor ?
Floors 31, 32, 33, 65 and 66.


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Old September 29th, 2007, 04:52 AM   #477
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best tower in Europe!
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Old September 29th, 2007, 06:20 AM   #478
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Quality is important

Quote:
Originally Posted by gothicform View Post
the russia tower does not for example have low iron crystal clear glass planned for it which is one of the most expensive types of cladding you can get. this is the sort of glass they put on the front of a tv screen or make goblets from, it has high resistance to oxidation, brilliant tensile strength and uniform porosity. it will literally be clad from tip to toe in the same glass you make chandeliers out of!

people should be aware that the budget for london bridge tower is £1.2 billion. thats $2.5 billion dollars. it will be the most expensive skyscraper *ever* built anywhere.

anyone who frankly thinks the russia tower will compare to this in anything more than height has little idea of the detail of the designs of both buildings and the m/e and structural engineering within.

the very top crop of london towers coming along - leadenhall, bishopsgate, and this are totally peerless in the sheer quality being used in building them. you can already see that quality with the willis building and swiss re for yourself and it is nothing less than you would expect for what is the single richest place on the planet. these are what billion dollar buildings look like...


people around the world can build whatever the hell they want, they can make them as tall as they want. i dont care. i want buildings designed and built that have a design life of hundreds of years without having to replace the glass like london bridge tower does. you can build a hundred russia towers or poxy supertall apartment blocks in dubai or chicago but you'll never come close to the build quality on these - you cant afford it in those buildings anyway as that market doesnt exist there which can pay those headline rents - so i'll take our design quality over your **** comparisons any day of the week.
I quite agree that the overall design, originality, quality and detail are very important factors in the overall success of an architectural structure. Gothicform includes a picture of the superb Swiss Re building, which although is not outstandingly tall is a true iconic structure. Consider the greatest buildings of the past century, such as the Sydney Opera House or Gehry's Guggenheim Museum in Bilbao, and we see that excellance of design trumps size or height in making a building truly iconic. On the other hand, one should not wax rhapsodic over a structure costings "2.5 billion dollars" ... because several structures under construction now are going to exceed that amount ... for example The City Center in Las Vegas is going to cost 7.5 Billion Dollars at the very least, and there are several projects here in North America that will cost over 2 billion -- and yes, these structures will be built by awarding winning world class architects using the finest construction materials. Rather, I say let us praise skyscrapers for their innovation and artistic appeal and how about the ability to be environmentally friendly and economic in power usage? I think sheer height is passe ...
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Old September 29th, 2007, 09:10 AM   #479
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Quote:
thats $2.5 billion dollars. it will be the most expensive skyscraper *ever* built anywhere.
HaHa... WTC 1 is already up tp $3 billion with the republican weak dollar in place.

Quote:
nothing less than you would expect for what is the single richest place on the planet. these are what billion dollar buildings look like...
LOL... I don't even want to embarrass you. Just take my word its not London.

So, it always seems to come down to Middle East investment to make things pop in London.
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Last edited by JACK NAPIER; September 29th, 2007 at 07:11 PM. Reason: typo
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Old September 29th, 2007, 11:00 AM   #480
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I quite agree that the overall design, originality, quality and detail are very important factors in the overall success of an architectural structure. Gothicform includes a picture of the superb Swiss Re building, which although is not outstandingly tall is a true iconic structure. Consider the greatest buildings of the past century, such as the Sydney Opera House or Gehry's Guggenheim Museum in Bilbao, and we see that excellance of design trumps size or height in making a building truly iconic. On the other hand, one should not wax rhapsodic over a structure costings "2.5 billion dollars" ... because several structures under construction now are going to exceed that amount ... for example The City Center in Las Vegas is going to cost 7.5 Billion Dollars at the very least, and there are several projects here in North America that will cost over 2 billion -- and yes, these structures will be built by awarding winning world class architects using the finest construction materials. Rather, I say let us praise skyscrapers for their innovation and artistic appeal and how about the ability to be environmentally friendly and economic in power usage? I think sheer height is passe ...
Nicely written phillybud. So instead of mine is bigger than yours, it's mine is more expensive. Nothing new there. Well the dollar and the pound float around a lot, not so long ago it was one dollar to the pound, now it's two ... much longer ago it was four, that clearly doesn't mean the architectural value of the building has correspondingly changed. As buildings go higher they cost more, if they are built in the middle of highly developed cities that makes them even more expensive. It would be interesting to compare the ground cost per square foot in London, with Dubai, New York, Chicago, Moscow, Hong Kong etc etc. Not to mention the planning approval costs. Sheer height only counts when you "passe" the next tallest haha.
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