110 Bishopsgate | City of London | 202m | 47 fl

http://www.skyscrapercity.com/showpost.php?p=10600533&postcount=387


Heron Tower
The City

Height: 246m (202m roof + 44m spire) | Floors: 47 | Architect: Kohn Pedersen Fox Associates | Developer: Heron International PLC

Links: Skanska project page with news updates | Mayor Ken Livingstone's comments | Architects' website

Notes:

• Following concerns from English Heritage about its impact on St Paul's and other historic views, Heron Tower was put through
  a public inquiry. The inquiry ruled in favour of the developers, and the tower was approved on 22nd July 2002 by the Deputy
  Prime Minister, John Prescott. He agreed with the planning inspector that no significant harm would come to the setting of
  St Paul's cathedral and that some marginal impact on heritage interests was "inevitable with any major development".
  He acknowledged that the tower would be "an elegant, graceful and well proportioned structure" and would contribute to the
  overall supply of office accommodation in the City, as well as boosting the economy.
• The scheme includes an additional smaller tower of around 149m, immediately adjacent to the main building's north side.
  This is Heron Plaza and will include 250,000 sq ft of retail space.

Current Status:
Under construction! The tower is nearly topped out. For more information see the construction schedule.















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Very good news. see http://business.timesonline.co.uk/article/0,,9064-1877464,00.html

Heron Tower seeks investors
By Jenny Davey

GERALD RONSON is seeking to raise £125 million to help to finance development of his Heron Tower, which he hopes will become the first “six-star” office scheme in London.

CB Richard Ellis, property adviser to Mr Ronson’s Heron Corporation, has circulated a confidential document to a limited number of potential investors with a view to raising 90 per cent of the equity required to fund the near-800ft skyscraper, to be built in the City at Bishopsgate.

According to a report due to appear in Property Week magazine today, Heron hopes to raise £125 million from up to four new partners and will invest about £20 million itself. The balance is likely to be financed through bank loans.

Mr Ronson has already put the Heron Tower project into a Jersey property unit trust, an offshore limited partnership that will own the building. Heron will manage the project and will lead the development.

Stephen Hubbard, deputy chairman of CB Richard Ellis for Europe, the Middle East and Africa, said that the move underlined Mr Ronson’s commitment to develop the tower without tenants lined up. Mr Hubbard said that the completed scheme would be worth about £500 million and Heron was keen to spread the risk by bringing in new partners.

Heron Tower will have a concierge, rather than a reception, and travel facilities and top-class catering facilities. The scheme is also intended to be the most environmentally friendly in London.

Construction will begin in summer of 2007 and be completed in 2010. By that time CB Richard Ellis hopes to secure rents for the best office space of £75 per sq ft. The last time rents of more than £70 per sq ft were achieved in the City was 1999.