Walkie Talkie To Begin Immediately

Walkie Talkie To Begin Immediately

Published on 19-10-2010 by Skyscrapernews.com
Construction work is to begin immediately on what will be London's newest skyscraper, 20 Fenchurch Street, better known as the Walkie Talkie thanks to its top-heavy look.

The joint venture sees the project split in half between Land Securities and the Canary Wharf Group who will both be aware of the need for grade-A office space in the City of London.

The complete overreaction to expected falls in demand for offices, something that hasn't materialised, led to many developers putting their projects on hold and is now expected to lead to rapidly rising rents as supply is constrained by their previous caution whilst demand increases.

Another factor that could be driving the Canary Wharf Group's involvement could be the two sovereign wealth funds, the China Investment Corporation and Qatar Holdings. They are major shareholders in the company and skyscraper development in London has proven popular with sovereign wealth funds.

The Raffael Vinoly designed scheme will contain 99,692 of gross floor space and stand at a height 160.11 metres above ground level. It is particularly notable for its skygarden that tops part of the upper levels. Free to access, it will consist of four zones, each with their own unique collection of plants - Africa, Australasia, Europe and the Americas.

Work on the basement and foundations of the building is to start almost immediately, along with detailed engineering design on the superstructure. The construction programme expects this to be completed in February 2012 with the entire building finished in the second quarter of 2014.

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