It has been announced that London has been designated as a Low Carbon Economic Area (LCEA).
It received the designation for energy efficient building and is the seventh area to be recognised under the scheme, the government strategy for a low carbon economy. It highlights £90 million of invested funding towards more sustainable building projects that have taken place recently by regional development agencies, rather than bringing new investment from the government. (more…)
Minerva, a commercial property developer based in London has finally returned to profitability.
The firm had recorded losses of £187 million last year, but have just reported H1 profits of almost £46 million. The key to this return to success is the thriving London office space and commercial property market. Their current property portfolio is now worth almost £1 billion, when it had previously fallen by 27% in the last 12 months. (more…)
The future of a trio of towers planned in Waterloo as part of a major regeneration scheme is now in doubt after plans were rejected last year following a public inquiry. The 1.5 million square foot redevelopment of the Elizabeth House site were turned down in October as secretary of state, John Denham, felt that they did not not fit in with the rest of the area.
John Denham argued that the towers would “materially detract from the size and importance of Big Ben by virtue of their bulk and disturbing aspects of design.” The three towers were often nicknamed the Three Sisters, although some saw them more as the ‘Ugly Sisters’. (more…)