The cityscape of London is about to change as plans to build a new “Walkie Talkie” skyscraper within the next three years are unveiled by commercial property company Land Securities.
Estimated to cost £300 million the building has been dubbed the “Waklie Talkie” because of its unusual design.Planned to be sitauated at 20 Fenchurch Street the 150 metre high structure will be used for retail and London offices.
Land Security said: “The changing dynamics in the office market lead us to believe that both Land Securities and the City of London will gain substantial benefit from this landmark development”.
Robert Noel managing director said: “We are moving into supply-constrained market conditions in central London and this offers opportunity for those able to deliver the right property at the right time. Our robust balance sheet, high quality portfolio and sizeable development pipeline put us in an excellent position”.
The building was designed in 2007 by Rafael Vinoly but commencement of the plans was halted due to the economic downturn.
Developer British Land recently announced plans to build a tower on Leadenhall Street, which may rival the “Walkie Talkie” building.
Plans for this build, known as the Cheesegrater because of its wedge shape dimensions, had also been halted but due to speculation that favourable economic conditions may be in the pipeline the project has been kick started. again.