LONDON | Project Compilation Thread - Page 22

wjfox2004 · #**421** Posted **Dec 16, 2008, 1:32 PM**

http://www.propertyweek.com/story.as...de=3130031&c=1

Qatari Diar to provide finance for London’s Shard development

12:53 | 16.12.08
By Deirdre Hipwell

Qatari Diar Real Estate Investment Company is to provide the bulk of development finance for the Renzo Piano-designed Shard development at London Bridge.

The sovereign wealth fund said today it had agreed to provide a funding facility to London Bridge Quarter, the Jersey-registered holding company that is developing the Shard and a second adjacent development called London Bridge Place.

The extent of the loan has not been disclosed but it is thought to be significant given that the estimated construction costs could be as high as £1bn. Qatari Diar, headed by John Wallace in the UK, has not taken an equity stake in the development but will take a seat on the board of directors of the company.

London Bridge Quarter is an international joint venture owned equally by Qatar Islamic Bank, Qinvest, Qatar National Bank, Barwa International and Irvine Sellar. Sellar Property Group is also the development manager.

Demolition and site clearance of The Shard site will be completed next month and demolition and site clearance will start on the London Bridge Place site in March 2009.

Construction on both sites is expected to start next year with practical completion in 2012.

A spokesman for Qatari Diar said: ‘This further financial commitment by Qatari Diar to London’s real estate market underscores our conviction that, despite its current challenges, London remains one of the most important real estate markets in the world and it is one in which we have an ongoing interest. We take a long term view of all of our investments here and remain confident of their successful outcome.’

A spokesman for London Bridge Quarter said: ‘Obtaining this new facility, which is a major part of our overall financing requirement, enables the programme for completion of The Shard and its sister building London Bridge Place to remain on programme for completion early in 2012.’

wjfox2004 · #**422** Posted **Dec 16, 2008, 1:33 PM**

Some recent pics, by fitz44 of SSC -

wjfox2004 · #**423** Posted **Jan 9, 2009, 11:18 AM**

http://www.building.co.uk/story.asp?...de=3130917&c=0

Brookfield to build Pinnacle for £575m in City…

09 January 2009

By David Rogers

Australian contractor Brookfield has signed a deal to build the Pinnacle – the tallest building in the City of London – for about £575m.

The firm, which changed its name from Multiplex last year, agreed a maximum price with developer Arab Investments just before Christmas. The figure is understood to be £75m higher than initially expected.

Brookfield was originally chosen to build the 63-storey scheme in Bishopsgate in summer 2007 and the developer had hoped the job would be completed by 2011. But delays in signing off the deal mean it is now set to finish in early 2013.

Mace has been overseeing the demolition and groundworks, which are being carried out by Keltbray, for more than a year under a construction management deal but will hand over to Brookfield next Thursday.

Ashley Muldoon, the managing director of Brookfield’s construction business in the UK, said: “We’re pleased to have signed the contract with Arab Investments and look forward to supporting them in the development of the tower.”

The firm has let most of the main subcontracts on the 288m-high tower. Dutch contractor Hollandia, which worked with Brookfield on Wembley Stadium, and Belgian firm Victor Buyck will carry out steelwork as a joint venture, having previously worked together on the Gherkin. Permasteelisa subsidiary Gartner will carry out the cladding.

Meanwhile, Mace is expected to sign a deal to build the 310m-high Shard in London Bridge within the next week. According to sources close to the project, the scheme’s funders are close to agreeing a price of about £425m for the tower.

IciLondres · #**424** Posted **Jan 9, 2009, 5:52 PM**

Signing the contract and finding the money are two different things. I doubt this one is going ahead, and I hope it doesn't because it isn't a patch on The Shard or Leadenhall.

wjfox2004 · #**425** Posted **Jan 20, 2009, 10:53 AM**

After a pause of several weeks - caused by additional basement/ground level works - Heron Tower has started rising again.

Pics by JohnB of SkyscraperCity:

wjfox2004 · #**426** Posted **Jan 24, 2009, 1:02 AM**

Here's a video I made recently in the City of London. It's about 7 minutes / 100 megabytes:

http://www.willfox.com/videos/skyscr...rt2jan2009.wmv

If you prefer, you can watch a low-res version on my YouTube channel:

http://www.youtube.com/watch?v=ohtR35VSvyg

wjfox2004 · #**427** Posted **Jan 25, 2009, 9:43 AM**

A rendering of my own:

wjfox2004 · #**428** Posted **Jan 25, 2009, 9:44 AM**

Does anyone actually bother reading this thread? I feel like I'm the only one keeping it alive...

Swede · #**429** Posted **Jan 25, 2009, 10:49 AM**

I like to read it. Not much to say most of the time tho, but a great thread for all the big projects in London. Now that my brother lives there I care more than I did a year ago - and even then I always checked out the thread whenever I saw there was a new post

NEway - what are the other construction sites we see in that last pic? What tower is that going up in the upper right?

wjfox2004 · #**430** Posted **Jan 25, 2009, 3:22 PM**

Well, on the far right we have the Broadgate Tower (165m) which is due for completion anytime now.

To the left of that, you can see the core of 100 Middlesex Street (105m), a block of student accommodation.

Anyway, Heron Tower is the one to watch, and it should be starting to make its mark on the skyline in the next few months.

eduardo88 · #**431** Posted **Jan 26, 2009, 3:49 AM**

Quick Question (actually 2)

Does anyone have any info on the Goodman Fields proposal near Aldgate East Station, and does anyone know when Aldgate Tower is supposed to be completed?

wjfox2004 · #**432** Posted **Jan 26, 2009, 8:42 PM**

^ Not sure what you mean by the "Aldgate Tower" - there are several large developments in the area.

There's a thread on SkyscraperCity for the Goodmans Fields tower:

http://www.skyscrapercity.com/showthread.php?t=499272

Seems to be stuck in the planning system at the moment.

wjfox2004 · #**433** Posted **Jan 26, 2009, 8:42 PM**

Here's a new rendering of the City in 2012 -

Swede · #**434** Posted **Jan 27, 2009, 7:44 PM**

So, all those towers are still going ahead? London has been fairly hard hit by the finance crisis, has it not? That got me worried, 'cause all those new towers look great (and are with good transit options too, very important IMO).

Bergenser · #**435** Posted **Jan 27, 2009, 7:54 PM**

I am a bit worried as well considering the times we're in.
It would suck to get all of these buildings canceled,
or all of the planned supertalls in Western Europe.

Keith Lynn · #**436** Posted **Jan 28, 2009, 9:43 AM**

Quote:

Originally Posted by eduardo88

Quick Question (actually 2)

Does anyone have any info on the Goodman Fields proposal near Aldgate East Station, and does anyone know when Aldgate Tower is supposed to be completed?

Hi Mate... Aldgate Tower is an Exemplar development. see link to web site:-

http://www.aldgatetower.co.uk/

Under the current economical downturn I believe it is on hold.

wjfox2004 · #**437** Posted **Jan 28, 2009, 9:22 PM**

Quote:

Originally Posted by Swede

So, all those towers are still going ahead?

Heron is already U/C.

Leadenhall will be delayed 1-2 years, but will probably be built.

Bishopsgate Tower is 25% let, and funding is nearly secured. Piling is already underway. We don't know for sure if they'll build it - but it's looking very likely. I'd give it an 80% chance of going ahead.

Quote:

Originally Posted by Swede

London has been fairly hard hit by the finance crisis, has it not? That got me worried, 'cause all those new towers look great (and are with good transit options too, very important IMO).

Yes, massive job losses in the financial services industry. To be honest, I'm amazed even a single skyscraper is going ahead - this recession will be terrible, and the effects will last beyond 2012 (in my opinion).

wjfox2004 · #**438** Posted **Jan 28, 2009, 9:23 PM**

Demolition on LBT has almost finished.

A brief mention in this evening's London Paper -

touraccuracy · #**439** Posted **Jan 29, 2009, 9:19 AM**

^hmm apparently Russell Brand took two ladies home

khairul22 · #**440** Posted **Feb 8, 2009, 10:29 PM**

Quote:

Originally Posted by jef

I have registered and will answer tomorrow.

Regarding British Land Broadgate Expansion:

The company said that the five buildings with biggest redevelopment potential (see the buildings in RED in the rendering herebelow), namely 100 Liverpool Street, 8-12 Broadgate, 4 Broadgate, 3 Finsbury Avenue and Broadwalk House could be increased by ‘two to three times’.

That would turn these buildings in the range 20-35 storeys (?).

Hey Jef,

Do you have the source of this British Land statement? Thanks.