Workers will be whisked skywards at a stomach-dropping 18mph in the Richard Rogers-designed Leadenhall building
London’s escalating love affair with giddying views will reach a new height this autumn. Starting in November, up to 6,000 City workers will move their swivel chairs and espresso machines into the highest offices in Britain, in the Leadenhall building.
Foreign buyer expected to purchase the 40-storey office building, with agents hoping for offers of around £650m
One of London’s most recognisable landmarks, the Gherkin, has been put up for sale and is expected to be snapped up by an overseas buyer.
The 40-storey City of London skyscraper was put into receivership in April, and the agents appointed to sell it are hoping for offers in the region of £600m to £650m. Savills and Deloitte Real Estate have been jointly instructed to sell the 505,000 sq ft (46,900 sq m) office building, which was designed by Lord Foster and opened in 2004. The two firms said marketing of the Gherkin including an advertising campaign and a dedicated website was about to begin, "with interest expected to come from all corners of the globe".
Wood Wharf project gets green light in financial hub’s first major expansion since 2008 financial crisis
More than 3,000 homes are to be built at the eastern edge of Canary Wharf after Tower Hamlets council approved the project, the first extension to the financial district since the 2008 banking crisis.
Canary Wharf Group, majority-owned by Songbird Estates, has been granted planning permission to construct 30 buildings, comprising 4.9m square feet of homes, offices and shops, at Wood Wharf, just a stone’s throw from the headquarters of some of the world’s largest banks.
Markit/CIPS construction PMI slips as growth slows in commercial space such as offices, shops and warehouses
British construction grew at the slowest pace in seven months in May but economists said the outlook remained strong amid a boom in housebuilding.
The Markit/CIPS construction PMI, which measures building activity, edged lower to 60 in May from 60.8, mainly reflecting slowing growth in commercial space such as offices, shops and warehouses.
Owners of landmark expect offers around £550m after currency fluctuations force them to sell, acording to Deloitte
The Gherkin, voted London’s favourite tower, has been put into receivership 10 years after its completion helped transform the capital’s skyline.
The 41-storey City landmark is likely to be put up for sale shortly and is expected to attract offers of more than £550m from Middle East sovereign wealth funds and other potential buyers.
Over the coming days the skyscraper’s owners will attempt to persuade the property industry that it is finally more than just a nice view. But even with all of the support coming from Doha for one of the country’s highest profile investments, the office complex will only be around a third full. Roll over the graphic to find out how much of each section of the building is currently occupied … Continue reading…
London skyline’s £1.5bn addition remains all but empty year on from opening, with flats designed to pull in super-rich unsold
Soaring 310 metres (1,016ft) high and with 72 storeys, everything about the Shard is dramatic.
The London Bridge skyscraper the capital’s newest landmark, with views stretching 40 miles and which is visible to drivers crawling around the M25 bills itself as "Europe’s first vertical city".
Cork Street dealers say property development is a threat to character of St James and Mayfair
London’s reputation as a romantic destination for lovers of art and style will hang in the balance this Valentine’s Day, as the deadline passes for public responses to a scheme to safeguard the look and traditions of Mayfair and St James’s against the influx of rich foreign residents.
The two grand, chiefly Georgian-built areas of the capital are a big draw for tourists and daytrippers, fanning out around Cork Street, renowned for its art galleries and salesrooms, and around Savile Row, for many years the heart of Britain’s bespoke tailoring industry.
Andrew Haldane says there is hope next property cycle will be different, and welcomes discussion on more realistic valuations
The prospect of decades of damaging property booms and busts coming to an end has been raised thanks to proactive policymakers and more realistic valuations from the real estate industry, a top Bank of England official has said.
Against the backdrop of a crash that left commercial property prices 37% below their peak, Andrew Haldane, executive director for financial stability at the Bank said there were reasons to hope the next cycle could be different.