25 Churchill Place, the last available plot on the Canary Wharf estate, is having a new design produced.
News International were meant to be using the site, but they pulled out leaving the site undeveloped. The design is to be penned once more by KPF and will feature a 108 metre tower, a reduction from previous plans meaning there will be 71,169 sq m of office space. (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…)
Pinsent Masons, a US law firm, have finished their search for a City of London office.
The firm will move in to offices at 30 Crown Place in 2011. The new office will be Pinsent Masons’ largest international office, comprising of around 197,000 sq ft in total at the sixteen storey building near Liverpool Street. (more…)
Office group Business Environment have announced this month that they are launching new offices in Fleet Street, London.
The centre is the former home of the The Sun newspaper and houses 62,000 sq ft of office space. It was recently redeveloped as a high-end serviced office block and cost £33 million. It also houses a gym, and more unusually, a Williams Formula 1 race-car as driven by Alex Zanardi. (more…)
It has been announced this week that Sky News has moved offices and studios to the iconic Gherkin building in the City of London.
Abbey Business Centres announced that Sky News had joined their clients at 30 St Mary Axe, better known as the Gherkin, in the City of London. Sky News’ Chief Business Editor Jeff Randall’s team will be presenting live from the building on the 15th floor.
The Gherkin is an ideal move for Sky News, the location is in the heart of the financial district of London and their floor offers panoramic views of St Paul’s Cathedral, Tower 42 and Westminster. The views will be a breathtaking backdrop to the broadcasts which will also be done live from the studios there. (more…)
Land Securities Group Plc has announced that they are restarting their development of a new skyscraper in London, known as the Walkie Talkie tower.
The shortage of office space in London has driven the decision by Land Securities, the largest real estate investment trust in the UK. They have been making enquiries to contractors for estimates to build the 155-metre tower, which will be at 20 Fenchurch Street in the the heart of City of London. (more…)
The offices of Transport for London and London Development Agency are now home to the UK’s largest hydrogen fuel cell.
Deputy Mayor of London Kit Malthouse visited the TfL and LDA offices at Palestra on Blackfriar’s Road and officially unveiled the Combined Heat and Power (CHP) plant. The plant cost a reported £2.4 million and is part of the plan for the building to save £400,000 in energy bills and cut carbon emissions. TfL and LDA recently joined the 10:10 Campaign to join the action in London to reduce their carbon footprint. (more…)
US investment bank JP Morgan is considering leaving their European headquarters in Canary Wharf in favour of other premises in the City of London area.
This will be a harsh blow for Canary Wharf’s hopes to be the main financial district of London. JP Morgan are currently reviewing plans for its headquarters and the consolidation of all staff and buildings into one development, which may be in City rather than Canary Wharf. (more…)
Blackstone Real Estate Group and Prupim are the latest companies to join a new environmental scheme in London.
The Better Buildings Partnership was set up to encourage and improve the environmental performance of commercial property in London.
Following a meeting of 100 representatives at City Hall, the Better Buildings Partnership and Green500 annual brunch, discussing environmental and energy consumption issues in London, Blackstone Real Estate Group and Prupim have joined the scheme. (more…)
M1 Real Estate, an investment firm from Lebanon, has bought Victoria House in Bloomsbury Square for £175 million.
Moritz Group, of Ireland sold the building and were advised by Jones Lang LaSalle, M1 Real Estate were advised by CB Richard Ellis during the purchase.
Victoria House is an art-deco style building, which was built in 1929 and refurbished in 2003 by Garbe. It holds around 300,000 sq ft of office space and 50% of the building is let by government-backed tenants. The average lease terms at offices in the building are about 9.5 years. (more…)