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London’s Walkie Talkie tower set for a number of joint venture deals

Filed under: News — Tags: Canary Wharf Group, china investment corporation, investment stake, Land Securities, new developments, Walkie Talkie tower — Amy Edwards @ 9:34 am

The Canary Wharf Group plc (CWG) is expected to form a joint venture with Land Securities to aid with the development of the Walkie Talkie tower on 20 Fenchurch Street, EC3M.

Joint ventures are an increasingly vital part of new developments, particularly in regards to securing effective funding and maintaining security in the event that a company should be terminated.

The China Investment Corporation (CIC), China’s biggest sovereign wealth fund, is also reported to have approached Land Securities about taking a 25% equity stake in the tower. The fund already has links to the property, holding 19% shares in Songbird Estates plc, whom own 60% of CWG.

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‘Octopus’ plans rejected in Chiswick

Filed under: News — Tags: business centres, chiswick, commercial property, london, London office space, London offices, new developments, octopus — Krista Harrison @ 10:21 am

Plans have been rejected for a futuristic office building in Chiswick.

The building, known as the ‘Octopus’ has been turned down due to it being too distracting to drivers, causing chaos on the roads. It was planned to sit on the Chiswick Roundabout, next to the M4 – a very busy junction. The proposed 170 ft building was designed by Ken Shuttleworth, the architect famous for designing the Gherkin. It was to be five storeys high and contain 25,000 sq ft of much needed office space in the area. (more…)

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New skyscraper in London to have rooftop turbines

Filed under: News — Tags: elephant and castle, environment, london, London office space, London offices, new developments, razor, skyscrapers, strata, tower, wind power — Krista Harrison @ 12:02 pm

The recently completed ‘Razor’ tower in Elephant and Castle, London is to generate 8% of its own energy with new wind turbines.

Officially named the Strata tower, it stands at 148 m high and is part of a £1.5 billion project to regenerate the area around Elephant and Castle. It cost £113 million and also includes a smaller building, named the Pavilion. The towers are mainly for residential use, comprising of exclusive apartments ranging from £230,000 to £2.5 million in price. (more…)

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Ealingcross signs first tenant

Filed under: News — Tags: commercial property, DTZ, Ealing, Ealingcross, london, London office space, London offices, Montagu Evans, new developments, office space, UK commercial property, West End, west london — Krista Harrison @ 11:09 am

The first tenant at the new Ealingcross office space scheme in London has been signed.

Ealingcross is based at 85 Uxbridge Road, Ealing in west London. It is owned by Neptune Land and Standard Life Investments’ Life Property Fund, represented by Montagu Evans and DTZ. It was completed last autumn, promising to bring West End standards of office space to west London. (more…)

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Property developer Minerva back on track

Filed under: News — Tags: commercial property, development, london, London office space, London offices, minerva, new developments, office space, UK commercial property, Walbrook scheme — Krista Harrison @ 9:00 am

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…)

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