LONDON | Project Compilation Thread

[Fabb]

Originally Posted by jef

Some worthwhile pics Will.

Here is a photomontage from Stanhope Plc, appointed by Difa for pre-development of DIFA Bishopsgate Tower. I do not think this one has been shown yet:

That view is gorgeous !
Thanks for posting.

[wjfox2004]

http://www.london-se1.co.uk/news/view/2331

Shard construction moves closer with £196 million deal
Tuesday 19 September 2006

Construction of the London Bridge Tower moved a step closer this week with confirmation that PricewaterhouseCoopers will leave Southwark Towers by the end of 2007.

CLS Holdings plc, one of the three partners in the Shard along with Sellar Property Group and CN Limited (for and on behalf of the Halabi Family Trust), announced the completion of an interim financing package.

The £196 million facility has been provided by Nationwide Building Society and Kaupthing Singer & Friedlander and will, in part, fund the purchase of the PricewaterhouseCoopers occupational lease in place at the existing building on the site known as Southwark Towers.

Teighmore, the company jointly owned by the three partners in the Shard projectm, has exercised its option with PwC who will now vacate the building before the end of 2007.

The funds will also be used to pay off the existing financing and to provide working capital for the current stage of the project.

This follows the recent pre-letting of 190,000 sq ft of offices over the lower floors of the tower toTransport for London. TfL will take a 30 year lease at rent rising in line with the retail price index..

Teighmore has already announced the pre-letting of the 200,000 sq ft hotel element of the scheme to Shangri-La who are also taking a 30 year lease.

"With this financing now in place we can secure vacant possession from PwC and move one step closer to delivering The Shard," says Sten Mortstedt, executive chairman of CLS Holdings plc. "We are delighted to have pre-let close to 50 per cent of the commercial element of the scheme - a remarkable achievement."

[wjfox2004]

Although I'm glad PWC have confirmed for certain they'll be moving out, I'm also a bit pissed off... When they say "by the end of 2007", this means we could - potentially - be waiting another 15 months before work even starts.

I never had any doubt this project would go ahead - as far as I'm concerned it was just a question of when. Knowing our luck, they'll try and stretch it for the longest possible amount of time, meaning a November/December vacation of Southwark Towers. In other words, the headline of this article is misleading; you could say that construction has actually moved further away, not closer!

[clarky2005]

^Seems unlikely now this project will be completed before the olympics

[jef]

Originally Posted by wjfox2004

The £196 million facility has been provided by Nationwide Building Society and Kaupthing Singer & Friedlander "

Indeed Will, it is a bank loan facility and not an equity-funding as Gothic wrongly announces on his site.

The difference is that bank loans are much less risky than equities.

CLS shares were up 10% on the news last week when contract was exchanged.

[wjfox2004]

http://www.24dash.com/content/news/v...1&newsID=10637

Major housing boost for London as MoD frees up brownfield land

Publisher: Jon Land
Published: 19/09/2006 - 11:24:23 AM

More than 100 hectares of precious brownfield land is to be freed up for redevelopment as part of a project to upgrade and consolidate Ministry of Defence facilities in Greater London, it was announced today.

The flagship 'Project MoD Estates London' (MoDEL) will combine operations from a number of Defence sites in the capital at RAF Northolt.

As well as providing new first-rate facilities and reducing running costs, the project will also free up land within the M25 on which thousands of new homes could be built.

Defence Estates, the MoD's property management Agency responsible for Project MoDEL, has been working in collaboration with English Partnerships, the government's national regeneration agency, on pioneering work with Local Authorities, the Greater London Authority, other Government Departments and Strategic Governmental Bodies to ensure that every effort is made to maximise the potential of the surplus sites.

Speaking at the contract award ceremony, Derek Twigg said: "The MoD is making a £180 million capital investment at RAF Northolt to provide world class facilities for our Service personnel.

"I am delighted that we are able to not just improve the quality of life for our personnel but to release over 100 hectares of predominantly brownfield land can be used to provide thousands of new homes for London."

Ken Livingstone, the Mayor of London, said: "As London faces increasing pressure to build thousands of new homes the release of so much brownfield land on which they can be built is excellent news.

"Our population is expected to grow by 800,000 over the next decade and building on our precious open spaces to meet this demand is not an option.

"So wherever we can recycle existing brownfield sites to accommodate more housing is good for Londoners and for the sustainable development of our city."

Bill Oliver and David Bowler of VSM Estates, the company which has been awarded the larger of the two Project MoDEL contracts, said: "We are committed to providing high quality facilities at RAF Northolt, which offer best value for money, whilst delivering planning consents for the sites to be released which are robust and sustainable and which generate value over the long term.

"We will be investing significantly in infrastructure within and around the key sites to deliver plots of land primed for immediate development."

[Rambaldi]

Nice render of Bishapsgate Tower, yep I doubt we've seen it before, thanks Jef

[jef]

Yep, new renderings have been released. Here is another one in very low resolution. Hopefully the hi-res will be available fairly soon:

The entrance:


Also this mixed use scheme is confirmed to start spec. in Croydon in early 2007:

[wjfox2004]

Originally Posted by jef

Also this mixed use scheme is confirmed to start spec. in Croydon in early 2007:

That looks like the original Suffolk House design, but slightly shorter.

[Mikey]

Originally Posted by jef

That looks horridly squat.....

[South]

Those are fantastic renders... thanks

[jef]

One New Change - the mixed use scheme opposite to St Paul - is going ahead. Completion date: 2010



From FT:
https://registration.ft.com/registra...0779e2340.html

Approval for City shopping centre
By Jim Pickard, Property Correspondent

Published: September 18 2006 03:00 | Last updated: September 18 2006 03:00

The first purpose-built shopping centre in the City of London is to go ahead after Land Securities, the developer, secured a financial partner for One New Change, a giant project opposite St Paul's Cathedral.

It is understood that Beacon Capital, a US-based private company, is taking a 50 per cent stake in the mixed-use development that could have an end value of £600m.

[South]

London's Biggest Shopping Centre - Plans Unveiled (for 2008)

* +250 stores

* £1.6billion / US$3billion

* Same size as Bluewater Shopping Centre (just outside London)

Plans for greater London's biggest shopping centre, which could rival the traditional retail districts such as Oxford Street, have been unveiled.

The Westfield Centre in White City, forms part of a massive £1.6bn regeneration project in west London.

The shopping mall will house an atrium for live events, 15 restaurants, shops, 4,500 parking spaces, 265 shops, a cinema and other leisure facilities.

A new Tube station, two bus terminals and a railway will serve the site.

Work has already begun on the centre, which is due to be completed in 2008.

It is at the heart of a major drive to regenerate the area, which also includes a £170m upgrade to the transport network and more than 200 flats in an affordable housing scheme.

Developers estimate that 60% of visitors to the new shopping centre will come by public transport.

Those behind the plans for the Westfield Centre say they aim to "break the mould" of dining and entertainment in shopping centres.

Marks and Spencer, Next, Debenhams and Waitrose are among High Street names which have already been signed up.

Jeremy Baker, marketing lecturer at London Metropolitan University, said footfall figures showed out of town shopping was growing while Oxford Street was stable.

"The danger for Oxford Street is White City will just cream off all the rich people of west London and the medium-income people, and they just won't struggle into Oxford Street," he told BBC London.

Mayor Ken Livingstone has suggested he would like to see Oxford Street pedestrianised, with a tram running from end to end.

[Rational Plan2]

Originally Posted by South

London's Biggest Shopping Centre - Plans Unveiled (for 2008)

* +250 stores

* £1.6billion / US$3billion

* Same size as Bluewater Shopping Centre (just outside London)

Plans for greater London's biggest shopping centre, which could rival the traditional retail districts such as Oxford Street, have been unveiled.

The Westfield Centre in White City, forms part of a massive £1.6bn regeneration project in west London.

The shopping mall will house an atrium for live events, 15 restaurants, shops, 4,500 parking spaces, 265 shops, a cinema and other leisure facilities.

A new Tube station, two bus terminals and a railway will serve the site.

Work has already begun on the centre, which is due to be completed in 2008.

It is at the heart of a major drive to regenerate the area, which also includes a £170m upgrade to the transport network and more than 200 flats in an affordable housing scheme.

Developers estimate that 60% of visitors to the new shopping centre will come by public transport.

Those behind the plans for the Westfield Centre say they aim to "break the mould" of dining and entertainment in shopping centres.

Marks and Spencer, Next, Debenhams and Waitrose are among High Street names which have already been signed up.

Jeremy Baker, marketing lecturer at London Metropolitan University, said footfall figures showed out of town shopping was growing while Oxford Street was stable.

"The danger for Oxford Street is White City will just cream off all the rich people of west London and the medium-income people, and they just won't struggle into Oxford Street," he told BBC London.

Mayor Ken Livingstone has suggested he would like to see Oxford Street pedestrianised, with a tram running from end to end.

The new shopping centre has 400,000 people in just ten minutes travel time. There are also EIGHT times the national average of people in highest income quintile. While Next/Marks and Debenhams is not going to concern Selfridges or John Lewis. The rumour that one of the Malls will be much more exclusive with not just Armani but Barneys of NewYork, which will act as a honeypot for other exclusive stores, and will have bigger effect on Central London.

It is also rumoured that House of Fraser is sniffing around, as they have announced they are closing their High Street Ken store, following on from their closure of their Regent Street store they are now under represented in Central London. The biggest loser will probably be High street Kensington. While Whole Foods of the US is moving into House of Frasers old store, it is not quite the same draw as a department store, rents for the street have already peaked with Zone A rents falling from £300 to £275 in the last year. Hammersmith and Fulham could take a knock on rents as well.

But on the other hand this should push everyone into sorting out Oxford street. because by 2012 at the other end of the Central line a bigger Mall will be opening at Stratford. With both its Eastern and Western hinterlands facing competition it would leave Oxford street relient on North London as its prime hinterland. With little tube penetration south of the river, the town centres in the Southern suburbs are stronger. Compare the size of the shopping centres of Croydon, Kingston and Bromley to the anemic centres of North London.

[Mikey]

Did anyone go to the Broadgate open day yesterday ?? I was there about 12 ish and had a good nose around, it was quite good but i hoped to get higher than the portacabin roof

[BenL]

On that note...

Mayor's Oxford Street tram vision
One of London's busiest and most congested shopping streets could become a traffic-free zone with a tram running from end to end, the mayor has said.
Mayor Ken Livingstone outlined his vision to BBC London, saying he wants to transform Oxford Street into a road that is pleasant to stroll along.

He said the project would take up to seven years to complete.

The New West End Company, representing local retailers, said it was pleased with plans to make it a "people place".

Mr Livingstone said currently 40% of London bus routes run along the street, but he foresaw a terminus at the Marble Arch end to the west.

He added that he wanted to scrap the Marble Arch roundabout and transform the "tacky buildings" at the other end into a convention centre.

Negotiations were under way with the cab trade to run from north to south with dedicated pick-up points, he added.

He told BBC London 94.9: "You should have nothing in Oxford Street, and perhaps Lower Regent Street, just basically a proper dedicated tram service so people can hop on and off."

Transport report

A spokesman for the New West End Company said: "Everyone recognises that Oxford Street's challenge is congestion.

"We are pleased that the decision makers are looking at effective ideas that will address this issue and turn it into a people place."

Findings from a report by the company, the mayor and Westminster Council, looking into transport issues in Oxford Street are due to be released next month.

Last year Londoners were given a taste of a pedestrianised Oxford Street when vehicles were banned on two occasions to make way for Christmas shoppers and a street party in October.

The move proved popular, particularly with London's Liberal Democrats who called for a traffic ban by 2009 and trams by 2013.

Source: http://news.bbc.co.uk/1/hi/england/london/5301366.stm - 31 August 2006

Oxford Street facelift
Oxford Street in London is to get a £1 billion facelift. Traffic will be banned by 2013 to improve access to the area's 300 shops. A tramway will replace buses and taxis, while piazzas and pedestrianised zones will oust busy junctions and choked side streets. Sculptures will also be introduced. Attracting 200 million visitors a year, the West End is the country's most popular shopping destination. But Mayor Ken Livingstone, who has drawn up the plans, said: "The appearance of the area at the moment is pretty grim - especially for pedestrians.

Source: The Metro - 18 September 2006

I can't imagine a better mayor. Apparently the White City project will be the biggest mall in Europe and so bigger than Bluewater.

[chest]

..went to the Broadgate tower on Saturday - was amazed at how the tower is held up, it stops at the first floor on the right hand side (facing Shoreditch) then those massive supports hold the whole tower up - have taken loads of pics and will post later

[london lad06]

Hi Guys- Have managed to join here for when SSC has its little mishapes.

Good amount of finds there- That pic with Bishopsgate in it looks fantastic- It all looks so dense (and it doesn't even have 122LH in it!!).

I found something regarding what Ballymore plan next to the Ontario tower- Will post here or in SSC later.

With regard 20FC superb news- I think its a high quality scheme (sorry Will )

BTW Jef - Do you mind posting links when you post new pics or news so we can add them to the links page.

[jef]

Originally Posted by london lad06

BTW Jef - Do you mind posting links when you post new pics or news so we can add them to the links page.

Welcome I thought I was alone to be addicted...

For Bishopsgate Tower:
-http://www.stanhopeplc.com/index.php...218&Itemid=263. Be cautious, however, as the Bishopsgate Tower is wrongly referred to as a speculative development.

For 20 Fenchurch Street:http://www.minutes.org.uk/cgi-bin/cg...3738,0,00,00,N

[wjfox2004]

I think it will be completed before the Olympics, but only just... it will be very close indeed.