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Old October 10th, 2007, 01:02 PM   #541
gamma_ray_burst
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I'm very happy for the contruction but I feel a little bit of melancholy wtching this building being demolished.
I have a lot of personal memories around this site with this bulding as a background
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Old October 10th, 2007, 01:17 PM   #542
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I had a quick look at the first page, really cool building. Definitely a stand-alone building!
What do the Londoners here think about the realisation? Will the crisis in the financial sector have an impact at the project? Lately I heard that a lot of jobs due to the Subprime-crisis will be lost in London...
Hope they'll build this tower!!!
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Old October 11th, 2007, 01:14 AM   #543
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Old October 11th, 2007, 01:14 AM   #544
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double post!
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Old October 25th, 2007, 03:40 PM   #545
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Funding fear ends Mace’s Shard deal

Laing O’Rourke is being lined up to take over from Mace to build the 310m-high Shard of Glass building in London.

Mace had been doing the work on the Shard on a construction management deal but the Teighmore development team, led by Sellar Property, is set to ditch the CM route in favour of a fixed-price contract.

The decision was made after months of funding problems with banks unwilling to bankroll the deal under CM.

Banks are understood to have told Teighmore that they will only get involved in the scheme if the work is let under a fixed-price contract.

The move has raised fears that banks could make similar demands on other high-profile projects yet to sign off their financing.

One expert said: “At the moment, banks want certainty about what they’re getting involved in. Fixed-price means they cap their exposure to the contract.

“Some big jobs got their financing away before the credit crunch happened but if funding wasn’t signed and sealed then they’ve got problems. Banks are cutting their lending books and I wouldn’t be surprised if this is the start of a wider trend.”

The Shard, which will eventually go up close to London Bridge train station, carries a construction price tag of £350 million and O’Rourke is expected to take over from Mace some time before Christmas.

It is believed Teighmore only began initial discussions with Laing O’Rourke recently, after approaching chairman Ray O’Rourke about the possibility of carrying out the deal.

Irvine Sellar, chairman of Sellar Property Group, has had to endure a series of frustrations in recent months after co-investor Simon Halabi decided to sell his stake in the job after racking up a series of losses on a failed leisure business.

Mace, which along with Laing O’Rourke is part of the CLM project management team on the 2012 Olympic Games, began work on the job last year.

But it is now bracing itself for a vastly reduced role. One insider admitted: “I think our role will be limited. It’s disappointing to say the least because it’s a great, high-profile scheme.”

Mace had been due to pick the winner of the key steel contract this month.


A colourful past

The Shard’s progress from the drawing board to reality has seen it linked with some of the industry’s leading names.

In 2001, Bovis Lend Lease was lined up as project manager, only for Multiplex to take over as pre-construction advisor in 2003. In November that year the tower was given planning approval, with Shangri La signed up on a pre-let for the hotel element in February 2005.

Mace stepped in last year after Multiplex walked away citing a change in its strategy towards risk.

Keltbray has carried out enabling works ahead of an eight-month demolition. Construction is due to take 40 months to September 2011.
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Old October 26th, 2007, 03:01 AM   #546
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What building or buildings are in the proposed site if demolition work is needed?
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Old October 26th, 2007, 10:02 AM   #547
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See previous page...
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Old November 24th, 2007, 01:49 AM   #548
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A demolition update from CranesEtc -











There are rumours of a big announcement next week - should hear some news about the funding.
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Old November 24th, 2007, 01:58 AM   #549
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Its about time the greatest country on earth got themselves a stupidly huge building!!
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Old November 24th, 2007, 03:43 AM   #550
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The US already has stupidly huge buildings though.

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Old November 24th, 2007, 07:22 AM   #551
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Quote:
Originally Posted by xXFallenXx View Post
The US already has stupidly huge buildings though.

Nice.
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Old November 24th, 2007, 07:28 AM   #552
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hell yeah!
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Old November 24th, 2007, 08:28 AM   #553
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Quote:
Originally Posted by xXFallenXx View Post
The US already has stupidly huge buildings though.

We must remember to fashion you a medal sir.
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Old November 24th, 2007, 08:35 AM   #554
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i know, right?
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Old November 24th, 2007, 08:40 AM   #555
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Thanks for the updates. This is easily one of the best projects in the world.
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Old November 24th, 2007, 09:33 AM   #556
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Any date for this photo?

Is that a bunch of scaffolding boards suspended by the crane or bits of the building?
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Old November 24th, 2007, 03:21 PM   #557
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Almost there... not final confirmation yet, but we're pretty close now -


http://www.telegraph.co.uk/money/mai...cnshard124.xml

Qataris mull share in troubled Shard

By Sophie Brodie
Last Updated: 12:16am GMT 24/11/2007


The Qatari government is understood to be close to buying most of the troubled Shard of Glass development, increasing the likelihood that Italian architect Renzo Piano's vision will be realised.

Under the deal, the Qataris will take about 80 percent of the £400m development, buying out stakes owned by Syrian-born Simon Halabi and property company CLS.

This will leave Irvine Sellar, who has been working on the 600,000 sq.ft tower for many years, with a minority interest.

The project, near London Bridge, has been dogged with problems for several years, making it doubtful whether it would ever be built. The most recent of these was when it ran into financial difficulty after the credit crunch and was put on hold.

Meanwhile, Mr Halabi found himself under pressure from bankers Société Générale after his gym business Esporta, bought last year from Duke Street Capital for £476m, was put into administration. The move left him with a loss running into millions of pounds.

It was then revealed that a third party was interested in taking Mr Halabi's stake. Sten Mortstedt, executive chairman of CLS, said at the time that the banks considering financing the project, which included Credit Suisse, did not want Mr Halabi as an investor. Yesterday, Mr Mortstedt declined to comment. Mr Halabi and Mr Sellar were unavailable for comment. Credit Suisse are no longer involved.

Relations between the investors have often been strained. In 2004, Mr Halabi took the other two to court in a bitter row over the size of their respective stakes. The battle ended in an undisclosed settlement. Mr Sellar is now suing his solicitors for £55m.

Mr Piano first unveiled his 1,016ft skyscraper in 2000. The original plans were attacked by English Heritage, which led to a public inquiry.

The inquiry concluded the plans were fine and the tower could go ahead. It is due for completion in 2011.
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Old November 24th, 2007, 07:30 PM   #558
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why is the price so expensive for this building ,when other buildings over twice this height are nearly the same price?
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Old November 24th, 2007, 07:35 PM   #559
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Quote:
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why is the price so expensive for this building ,when other buildings over twice this height are nearly the same price?

High local labour costs and a difficult construction site that requires the building to be built entirely within its own footprint.
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Old November 24th, 2007, 08:23 PM   #560
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Several posts deleted. Please stop turning this into City vs City - that includes you Les.
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