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Harvey Nash to lease office space in Heron Tower

Harvey Nash has announced it is to relocate its headquarters to Heron Tower on Bishopsgate.

The professional services group’s decision to stay in the capital has been interpreted as a sign of confidence in the London office space market.

Professional services group Harvey Nash has announced that it has shunned options in New York, Dublin and Hong Kong in favour of office space in London.

In the clearest sign yet that the London office space market is still an attractive option, the group have confirmed they will relocate their headquarters from Mayfair to Heron Tower on Bishopsgate. Harvey Nash will take space on the eleventh floor on a 10 year lease when it relocates later this year. (more…)

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Work to recommence on the Pinnacle

Filed under: News — Tags: Arab Investments, Bishopsgate office space, Brookfield property group, London office space, Pinnacle, Pinnacle office space tower, work to recommence on Pinnacle — Amy Edwards @ 8:57 am

Work has restarted on the Pinnacle skyscraper in London.

Investors have instructed Brookfield to recommence construction on the City’s tallest skyscraper.

Investors have this week instructed the global property group Brookfield to start construction on the final phase of the Pinnacle skyscraper.

Work on the Bishopsgate 64 storey office space tower previously stalled at ground level due to funding issues, however after securing a financing package for the development a decision was made to restart the project in a bid to meet London’s expected office supply shortfall. Dubbed the ‘Helter-Skelter’ because of its unique design, the Pinnacle is expected to completed within three years. (more…)

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Pinnacle set to secure £600 million of financing through HSBC

Filed under: News — Tags: Bishopsgate office space, Helter Skelter skyscraper, Pinnacle skyscraper in Bishopsgate, Pramerica Real Estate Investors, Sedco, £600 million finance deal with HSBC — Javaria @ 9:54 am

The Pinnacle skyscraper development in Bishopsgate is on the brink of securing a £600 million finance deal with HSBC.

Arab Investments, the development manager of the space owned by a Middle-Eastern consortium, is currently in talks with the banking giant.
(more…)

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Heron Tower secures law firm McDermott Will & Emery as first tenant

Filed under: News — Tags: Bishopsgate office space, Heron tower office space, Heron Tower to be largest building in London, McDermott Will & Emery take space in Heron Tower — Javaria @ 8:37 am

A law firm will be the first tenant in the Heron Tower – an office block planned to be the largest building in London.

McDermott Will & Emery will take up two floors of the 46-storey space, which is still under construction. (more…)

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Hammerson to sell office space in Docklands

Filed under: News — Tags: Bishopsgate, Bishopsgate office space, construction, developments, Docklands, Docklands office space, FTSE 100, Hammerson, Hammerson property developers, London office space, office sale, office space in London, property development, selling offices — Adam @ 2:01 pm

Due to the recession and uncertainties in the market, Hammerson property developers have decided to sell some of their office assets.

Hammerson, which is a FTSE 100 company, is attempting to sell the £150m Harbour Exchange Square in the London Docklands and has further plans to become a leading seller of London office space.

However with rental price increases since August 2009 and an increase of competitors there are serious concerns that the decision may come at a bad time.

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£43 million joint venture leads to new office development

Filed under: News — Tags: Bishopsgate, Bishopsgate office space, Brookefield properties, Canary Wharf, Canary Wharf office space, Great Portland estates, office space, redevelopment — Adam @ 9:13 am

By securing a £43 million investment from Brookefield Properties, Great Portland Estates are now in a comfortable position to go ahead with the construction of new London-based offices.

Brookfield Properties, which already own 22% of Canary Wharf, now have a 50% stake in the development at Bishopsgate.

Analysts, at JP Morgan Financial Services, have said that the development could cost up to £560 million and that, “The project was too big for Great Portland to comfortably do alone, in our view.”

As a result, without this financial backing the development may have been put on hold.

(more…)

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