A study by the BBC is suggesting that the City of London’s plans for the tallest skyscraper might never happen due to changes in the market.
An Inside Out report has found that at the very least there are six developments that have either stalled or been cancelled – from 100 Bishopsgate to the Can of Ham.
“The Pinnacle is perhaps the biggest example of this recession,” says Jerry Swain, Regional Secretary at the Union of Construction, Allied Trades and Technicians.
“It’s like the hokey cokey for workers; they are in, they are out, they’re in, they’re out. It’s just unbelievable to watch that project – it’s become farcical.”
“My own belief is the building that gets built will probably be a different building to that there at the moment,” says ex-Lead Architect on the project, Lee Polisano.
“It is a shame that we have a very important piece of land at this key site that’s empty. It is logical to understand in these economic times a building of that sort is a difficult building to make financially, so I am not surprised to see something so ambitious being stopped.”