South Bank Tower, (Formerly Kings Reach Tower) Redevelopment | Southwark | 127m | 34 fl | U/C - Page 5

london lad · November 13th, 2009, 12:32 PM

Looks like this project might do more than sit on somebody's portfolio for years. Hopefully the new owners will progress with the planned scheme or come up with a new scheme sooner rather than later.

http://www.propertyweek.com/story.as...de=3153235&c=1

Separately, a receiver has been appointed to sell Kings Reach tower in Southwark, also owned by Halabi-linked companies. Allsop, property agent and receiver, is expected to market the building for Lloyds Banking Group next week.

potto · November 15th, 2009, 04:03 PM

I really really hope the current proposal is binned. With the nonsensical Beetham tower height reduction pushed through by the clueless planning authorities combined with this height increase and the other blackfriars road developments we cleverly end up with a flat wall when viewed from the West. This either needs to be kept at its current height or reduced in height, the optimum choice would be to have it much taller but I cant imagine the developers going for it or maybe they will feel brave after the recent PI?

delores · November 15th, 2009, 09:31 PM

Absolutely, the building's height increase just looked ridiculous next to all the other proposals,I think a reclad and possibly increasing it's density lower down would probably look ok as long as MAKE don't have anything to do with it and we end up with that horrid blue and yellow fleck building.

spenster · June 16th, 2010, 07:44 AM

Good news for this one guys (from the FT):

Jadwa steps up UK investment
By Robin Wigglesworth in Abu Dhabi

Published: June 16 2010 03:00 | Last updated: June 16 2010 03:00

Jadwa Investment , a company part-owned by the Saudi royal family, and CIT, a European property investor, have acquired the King's Reach Tower on London's south bank for £60m and plan to invest a further £500m in the UK real estate market.

Jadwa has invested £140m in UK property - including Hull's largest shopping centre in March - and King's Reach Tower is the fourth joint Jadwa-CIT acquisition.

The price paid for King's Reach was almost a quarter below the price paid the last time it was sold in 2006, said Jadwa. The purchase of the tower and adjacent podium building includes a planning consent for redevelopment and Jadwa and CIT plan to invest a further £200m in the property.

"It's a great location, it's overlooking the Thames with wonderful views," Fadi Tabbara, Jadwa's chief investment officer, told the FT. "The pound exchange rate is low, which makes investment in the UK inviting, and the legal structure is simple and transparent."

King's Reach Tower is empty and Jadwa is gambling on a UK economic recovery, Mr Tabbara said.

Gulf investors have a long-standing affinity with real estate , and high-end property in London in particular. The capital has historically attracted both individual and institutional investments from the oil-rich region, and interest is rising again on the back of declining property prices and weaker sterling.

Qatar recently bought Harrods from Mohammed Fayed for a reported £1.5bn, and is involved in the Chelsea Barracks and the Shard skyscraper developments.

"For us, London is the capital of the world. It's a lot closer than the US, and even the retail sector is often in tune to Arab culture," Mr Tabbara said.

Jadwa and CIT are targeting a return of 20 per cent or more on their King's Reach investment. In addition to £200m to develop the project, Jadwa plans to invest a further £300m or more in mixed-use, residential and commercial property in the UK.
.Copyright The Financial Times Limited 2010. You may share using our article tools. Please don't cut articles from FT.com and redistribute by email or post to the web.

mulattokid · June 16th, 2010, 10:39 AM

Quote:

Originally Posted by spenster

"For us, London is the capital of the world. It's a lot closer than the US, and even the retail sector is often in tune to Arab culture," Mr Tabbara said..

Thats an interesting comment.

flippi1 · June 16th, 2010, 07:52 PM

Quote:

Originally Posted by mulattokid

Thats an interesting comment.

i think it is actually the truth !!

chrissyb · June 16th, 2010, 08:31 PM

"...retail in tune to Arab culture" - I'd love to know what this means....

rjgibb · June 17th, 2010, 02:37 PM

Chippies putting up hoarding round podium today...

delores · June 19th, 2010, 12:57 AM

I hope the new scheme is better than the old one, the new renders on other pages looks like a new design, more restrained but much more elegant.

heywindup · June 20th, 2010, 09:03 PM

Quote:

Originally Posted by delores

I hope the new scheme is better than the old one, the new renders on other pages looks like a new design, more restrained but much more elegant.

Does anyone have renders of the new scheme?

rjgibb · July 8th, 2010, 04:01 PM

Hoardings now (apparently) complete, circling the site, and signs up saying "demolition in progress". No white sheet/scaffolding yet. Looks like the podium is certainly coming down in near future. No updates on www.kingsreachtower.com - which still seems to be administrators' "sale" website. Plenty of planning details including full renders etc. of the 2006 consented scheme on there but you need to register (free) for the docs.

Officer Dibble · July 9th, 2010, 11:21 PM

Quote:

Originally Posted by heywindup

Does anyone have renders of the new scheme?

There's one in the first post in the thread.

BorderBoy · July 12th, 2010, 09:56 PM

Certainly hope they can come up with something better than what has been proposed in the past. As this is in my 'back yard' this is one scheme I'm very glad to see going ahead. The whole Kings Reach complex is a disaster area that should never have been built. Criminal in my opinion. It's up there with the worst excesses of soulless concrete "carbuncles". The tower is passable from a distance but, up close, it's a s**** hole.

Will get some pics tomorrow.

potto · July 12th, 2010, 09:59 PM

yeah it doesnt exactly sit in with the street scape, horrible horrible building. A reclad is not sufficient in my opinion and the height increase ruins the stumpy Beetham tower when viewing from Westminster bridge. Resurrecting the past plan is basically an all round disaster but cheap.

i_like_concrete · July 12th, 2010, 10:58 PM

Oh i can't stand for that. Far too much Kings Reach bashing going on for my liking, I think it's a great building, it may not be the best high rise but it's a decent attempt, I love the concrete fins and the overall brown-ness of it. I don't think the Podium itself is too bad, just that the ground floor interaction could be much much better.

Here are some pictures I got last year.

BorderBoy · July 13th, 2010, 02:08 PM

Have you been inside the shopping area and podium? It's positively Soviet!

As for brown ... Brown is bad. Brown is shite. Brown is not a good colour for a scraper - unless you are some sort of retro freak. Basically this building is a sort of second-rate Tower 42. Demolish it and start again.

Yorkshire Boy · July 14th, 2010, 12:26 AM

Hmmm... I wouldn't go too far with a reclad for it, all it needs is new clear windows and maybe a couple of modest lights to show off those fins and then it's fine and dandy.

cpwken · July 14th, 2010, 02:58 PM

Quote:

Originally Posted by BorderBoy

Have you been inside the shopping area and podium? It's positively Soviet!

.

You mean Milroy Walk? If so it's not part of Kings Reach, it's underneath the adjacent block of flats. Soviet is quite a good word to describe it though.

Quote:

Originally Posted by BorderBoy

As for brown ... Brown is bad. Brown is shite. .

OK, but do you think Cameron will be any better?

BorderBoy · July 14th, 2010, 08:20 PM

Quote:

Originally Posted by cpwken

You mean Milroy Walk? If so it's not part of Kings Reach, it's underneath the adjacent block of flats. Soviet is quite a good word to describe it though.

OK, but do you think Cameron will be any better?

Didn't spot that - thought it was all same complex.

As for Brown - I only feel sorry for him - apart from the fact he sold off the gold

ferge · July 14th, 2010, 11:03 PM

I'd rather it had a good scrub or a slight modification than a reclad like shown on previous renders, all those blue and white fins and stuff.. that is far worse than brown.

Let it be, London's skyline needn't be all shiney and new - this should be treated like T42, Centrepoint etc etc.. But hey, I just like it as it is.

July 12th, 2010, 09:56 PM	#93
BorderBoy Registered User Join Date: Jun 2008 Location: London Posts: 1,716 Likes (Received): 0	Certainly hope they can come up with something better than what has been proposed in the past. As this is in my 'back yard' this is one scheme I'm very glad to see going ahead. The whole Kings Reach complex is a disaster area that should never have been built. Criminal in my opinion. It's up there with the worst excesses of soulless concrete "carbuncles". The tower is passable from a distance but, up close, it's a s**** hole. Will get some pics tomorrow. __________________ You think you are one thing but you know that you are seen as another and you suspect that maybe you are that other but you don’t know what that means ...

July 12th, 2010, 10:58 PM	#95
i_like_concrete cockney sparrow Join Date: Apr 2008 Location: London Posts: 3,359 Likes (Received): 58	Oh i can't stand for that. Far too much Kings Reach bashing going on for my liking, I think it's a great building, it may not be the best high rise but it's a decent attempt, I love the concrete fins and the overall brown-ness of it. I don't think the Podium itself is too bad, just that the ground floor interaction could be much much better. Here are some pictures I got last year. __________________ Mother earth couldn't give a shit about your iphone or social networking strategy Flickr Pinterest

July 13th, 2010, 02:08 PM	#96
BorderBoy Registered User Join Date: Jun 2008 Location: London Posts: 1,716 Likes (Received): 0	Have you been inside the shopping area and podium? It's positively Soviet! As for brown ... Brown is bad. Brown is shite. Brown is not a good colour for a scraper - unless you are some sort of retro freak. Basically this building is a sort of second-rate Tower 42. Demolish it and start again. __________________ You think you are one thing but you know that you are seen as another and you suspect that maybe you are that other but you don’t know what that means ...

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November 13th, 2009, 12:32 PM	#81
london lad Registered User Join Date: Feb 2003 Location: London Posts: 8,155 Likes (Received): 45	Looks like this project might do more than sit on somebody's portfolio for years. Hopefully the new owners will progress with the planned scheme or come up with a new scheme sooner rather than later. http://www.propertyweek.com/story.as...de=3153235&c=1 Separately, a receiver has been appointed to sell Kings Reach tower in Southwark, also owned by Halabi-linked companies. Allsop, property agent and receiver, is expected to market the building for Lloyds Banking Group next week.

November 15th, 2009, 04:03 PM	#82
potto Registered User Join Date: Sep 2002 Location: London Posts: 13,505 Likes (Received): 255	I really really hope the current proposal is binned. With the nonsensical Beetham tower height reduction pushed through by the clueless planning authorities combined with this height increase and the other blackfriars road developments we cleverly end up with a flat wall when viewed from the West. This either needs to be kept at its current height or reduced in height, the optimum choice would be to have it much taller but I cant imagine the developers going for it or maybe they will feel brave after the recent PI?

November 15th, 2009, 09:31 PM	#83
delores Registered User Join Date: Dec 2005 Posts: 4,564 Likes (Received): 25	Absolutely, the building's height increase just looked ridiculous next to all the other proposals,I think a reclad and possibly increasing it's density lower down would probably look ok as long as MAKE don't have anything to do with it and we end up with that horrid blue and yellow fleck building.

June 16th, 2010, 07:44 AM	#84
spenster Registered User Join Date: Oct 2005 Posts: 294 Likes (Received): 3	Good news for this one guys (from the FT): Jadwa steps up UK investment By Robin Wigglesworth in Abu Dhabi Published: June 16 2010 03:00 \| Last updated: June 16 2010 03:00 Jadwa Investment , a company part-owned by the Saudi royal family, and CIT, a European property investor, have acquired the King's Reach Tower on London's south bank for £60m and plan to invest a further £500m in the UK real estate market. Jadwa has invested £140m in UK property - including Hull's largest shopping centre in March - and King's Reach Tower is the fourth joint Jadwa-CIT acquisition. The price paid for King's Reach was almost a quarter below the price paid the last time it was sold in 2006, said Jadwa. The purchase of the tower and adjacent podium building includes a planning consent for redevelopment and Jadwa and CIT plan to invest a further £200m in the property. "It's a great location, it's overlooking the Thames with wonderful views," Fadi Tabbara, Jadwa's chief investment officer, told the FT. "The pound exchange rate is low, which makes investment in the UK inviting, and the legal structure is simple and transparent." King's Reach Tower is empty and Jadwa is gambling on a UK economic recovery, Mr Tabbara said. Gulf investors have a long-standing affinity with real estate , and high-end property in London in particular. The capital has historically attracted both individual and institutional investments from the oil-rich region, and interest is rising again on the back of declining property prices and weaker sterling. Qatar recently bought Harrods from Mohammed Fayed for a reported £1.5bn, and is involved in the Chelsea Barracks and the Shard skyscraper developments. "For us, London is the capital of the world. It's a lot closer than the US, and even the retail sector is often in tune to Arab culture," Mr Tabbara said. Jadwa and CIT are targeting a return of 20 per cent or more on their King's Reach investment. In addition to £200m to develop the project, Jadwa plans to invest a further £300m or more in mixed-use, residential and commercial property in the UK. .Copyright The Financial Times Limited 2010. You may share using our article tools. Please don't cut articles from FT.com and redistribute by email or post to the web.

June 16th, 2010, 08:31 PM	#87
chrissyb Lincoln - London - Greece Join Date: Aug 2004 Location: Greece Posts: 600 Likes (Received): 1	"...retail in tune to Arab culture" - I'd love to know what this means....

June 17th, 2010, 02:37 PM	#88
rjgibb Registered User Join Date: Apr 2010 Posts: 203 Likes (Received): 0	Chippies putting up hoarding round podium today...

June 19th, 2010, 12:57 AM	#89
delores Registered User Join Date: Dec 2005 Posts: 4,564 Likes (Received): 25	I hope the new scheme is better than the old one, the new renders on other pages looks like a new design, more restrained but much more elegant.

July 8th, 2010, 04:01 PM	#91
rjgibb Registered User Join Date: Apr 2010 Posts: 203 Likes (Received): 0	Hoardings now (apparently) complete, circling the site, and signs up saying "demolition in progress". No white sheet/scaffolding yet. Looks like the podium is certainly coming down in near future. No updates on www.kingsreachtower.com - which still seems to be administrators' "sale" website. Plenty of planning details including full renders etc. of the 2006 consented scheme on there but you need to register (free) for the docs.

July 12th, 2010, 09:59 PM	#94
potto Registered User Join Date: Sep 2002 Location: London Posts: 13,505 Likes (Received): 255	yeah it doesnt exactly sit in with the street scape, horrible horrible building. A reclad is not sufficient in my opinion and the height increase ruins the stumpy Beetham tower when viewing from Westminster bridge. Resurrecting the past plan is basically an all round disaster but cheap.

July 14th, 2010, 12:26 AM	#97
Yorkshire Boy Registered Loser Join Date: Jun 2009 Location: L E E D S Posts: 2,285 Likes (Received): 56	Hmmm... I wouldn't go too far with a reclad for it, all it needs is new clear windows and maybe a couple of modest lights to show off those fins and then it's fine and dandy.

July 14th, 2010, 11:03 PM	#100
ferge Like 'Berg' Join Date: Aug 2003 Location: Wigan Posts: 5,427 Likes (Received): 86	I'd rather it had a good scrub or a slight modification than a reclad like shown on previous renders, all those blue and white fins and stuff.. that is far worse than brown. Let it be, London's skyline needn't be all shiney and new - this should be treated like T42, Centrepoint etc etc.. But hey, I just like it as it is.