Work has restarted on the London office tower, the Pinnacle. 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 London office 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 be completed within three years.
Brookfield have confirmed that they have received official instructions from the building’s asset manager, Arab Investments, to restart construction and is expected to start work on the core of the London office tower in the coming weeks.
When completed in 2014, the tower will stand at more than 900 ft. making it the City of London’s tallest skyscraper. Designed by architects Kohn Pedersen Fox, the London office tower will contain more solar panels than any other building in the UK – 2000 sq m of photovaltic solar cells have been included into the design which means the Pinnacle will generate around 200 kilowatts of energy.
“The Pinnacle has agreed with Brookfield to commence the final phase of construction works at the end of June to enable delivery of the City’s tallest building by 2014,” commented Arab Investments’ Khalid Affara.
“The Pinnacle is a unique product at 945ft – the tallest building in the cluster of tall buildings in the City of London – and will be delivered into a market where there will be a shortage of high-quality office space.”
Although a long way from completion, the London office tower has already been earmarked as a potential option for the new Schroders London HQ.