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Commerz Grundbesitz Investmentgesellschaft

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Fringe scheme start

City fringe start

City fringe mixed use scheme

Mixed use scheme consent

Appointment in EC3

Contractor appointed in EC3

City scheme letting

City refurbishment

Skycraper review

Long-awaited City application

Aldgate office consent

Consent in WC2

Office tower tenders

Early stages on City site

Consent in City fringe

Office plans may change

Refurbishment possible

Cheapside deal

Soho scheme start

New plan for Midtown scheme

Noho site sale

Soho application

New scheme for City fringe

Noho start on site

Aldgate scheme to re-start

Office consent in west end fringe

Aldgate scheme to restart

West End scheme to start

Docklands tower consent

Derwent application

Mixed use proposal for bank offices

Docklands tower plan

Margolis goes to Hatton Garden

Scheme consent in EC3

Start in EC1

Columbia tower completion date

Soho start

Refurbishment in EC1

Offices for SE1

Baker Street preparations

Soho start

Aldgate East underway

Soho scheme demolition

F&C plan start

Consent for refurbishment

West End consent

Recommendation for City tower

Terrace Hill acquire

SW1 scheme tipped

Refurbishment in WC2

Mayfair scheme approved

Schedule for WC2 scheme

Refurbishment underway in Mayfair

Redevelopment plan for law HQ

Hammersmith plans

Chancery Lane start

Summer 2006 completion in Mayfair

Refurbishment start in WC2

Office refurbishment in EC2

Refurbishment underway in EC2

Holborn scheme construction details

Perkins & Will appointed at Paddington

Bovis Bow Bells.

Spring start for 'new' York House

L&R preferred for M&S HQ

Huge City fringe site discussions

Multiplex joins Cricklewood scheme

Early 2005 start for Finsbury Circus?

Major development for Mayfair?

Greycoat sells Old Jewry site.

Thornfield's 5m sq ft application

Selfridges delay £300m W1 scheme

British Land to build speculatively

Go east young man?

A 'very confident' minority.

Spitalfields scheme approved

Lib Dem concern

Benchmark to start in West End

Four new towers for Canary

DTZ spots new space increase

Swiss Centre plans indude clock

Heron Tower go-ahead

Wates on site for Lothbury

Redesign for Gresham Street.

Things to get worse before they get better?

Moulin site gets go-ahead

City fringe space completes

New scheme for the fringes.

Start date for 9-13 Grosvenor Street

All go at Juxon House

Metropolis House to start

Derwent Valley busy in London

Start date for Kings Arms Yard

Main contractor for Walker House

New HQ for the RNIB

25-38 Park Lane on-site

Start on site at 25 Moorgate.

Architect appointed on WC2 scheme

Refurbished head office for RNIB

Start on site planned for Blossom's Inn EC2

Aldgate East stops

The construction of Formation’s "Aldgate East”, at 1 Commercial Street and 101-110 Whitechapel High Street, London E1, has stopped. The building has reached concrete frame stage up to 11 storeys but its future is now being decided by administrators Ernst & Young. The development is planned as a 22 storey tower with about 8,640 sq m (93,000 sq ft) of office space, 217 residential units, and 1,068 sq m (11,500 sq ft) of retail space. The Formation Group, the sports talent manager, is understood to have raised a £93m loan for the land and building work from Heritable, part of Landesbanki, the failed Icelandic bank. As part of the deal Formation agreed to underwrite £11.6m of the loan, which now becomes a liability. Completion was planned for May 2010. - (18-12-2008)

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Derwent call halt

Derwent London, the property developer, has said that it is not planning to start any new commercial developments until 2010 or 2011. The company has made the decision because of the credit crunch and the fall in occupier requirements for new space. Derwent has three buildings under construction and has let 408,000 sq ft in the last nine months, and has a further 35,000 sq ft of office space under offer. John Burns, chief executive, has said that the next two years are about "good housekeeping" and his comments mirror those expressed by Great Portland Estates, Hammerson and Liberty International. - (20-11-2008)

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Developers freeze projects

Great Portland Estates has said that it is putting new developments on hold until the end of 2010 at the earliest and maybe later. Toby Courtauld, chief executive, sees “a significant downturn and the demand side has deteriorated quite strongly”; He has commented that there has been a 66% fall in active demand in the West End of London over the past six months, and this is seen as continuing. The company priorities are now capital conservation, maximizing occupancy levels and crystallizing reversions. Hammerson and Liberty International have also delayed development activity and put major developments on hold in 2009. - (15-11-2008)

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Glasnost - Online Project, Contact & Image Management

Property at the top?

The top of the property investment market has been called by agent DTZ. Joe Valente, group head of research, has commented that the peak of the commercial market had probably been reached and that the level of interest in buildings on the market has been seen to be falling recently. This accords with the general view of property cycles that prices go up and then usually go down. - (06-07-2006)

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Refurbishment planned for SW1

GE Commercial Finance Real Estate, the property developer and investor and Grafton Advisers LLP have bought the vacant 1,400 sq m (15,000 sq ft) office building at 4-5 Arlington Street, London, SW1A 1RA for £11.3m and intend to refurbish it during 2006. - (25-11-2005)

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More offices from Portman.

Portman Estates has submitted a planning application to convert a residential mews at 19-22 Rodmarton Street, London W1, into a £2m office development. The scheme is the next phase of the company’s Gloucester Place scheme. When contacted, Portman refused to comment on the offices beyond saying that the project was still under consideration as to whether the offices will proceed or if they will remain residential. The architect is Sheppard Robson. - (18-04-2005)

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Heron Tower start date

Heron International has announced that it intends to start construction of its 37-storey office tower at 110 Bishopsgate, London, EC2, in early 2006. Construction of the 183m high skyscraper will commence despite the lack of pre-lets. Completion is expected by early 2008. - (17-03-2005)

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Hammerson sees rents rising

Hammerson is predicting that the London office market will see rents rise in 2006 and fewer incentives being on offer this year. Hammerson has one-third of its portfolio in offices and a vacancy rate of 28.3%, mainly because of its four central London buildings. The comments by John Richards, chief executive, were made as Hammerson announced that John Nelson, former chairman of Credite Suisse First Boston, is to become chairman of Hammerson at the end of September, when Ronald Spinney retires as chairman. - (01-03-2005)

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Lloyd's of London building finally sold

The iconic Lloyd's of London building, designed by Lord Rogers, at One Lime Street, London, EC3, has been sold by DekaBank Deutsche Girozentrale to a closed-end German fund fronted by CLI Group, part of Commerzbank, for about £231m. DekaBank paid around £180m for the building in 1996 and has been looking for a buyer for over a year. - (09-02-2005)

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Barclays deal with LandSec

Barclays Bank has agreed to sell 16 office buildings to Land Securities’ Trillium group. Barclays is moving London staff to a new 1m sq ft headquarters at Canary Wharf by May 2005, which will release 13 office premises. The bank will pay Land Securities to take on the commercial responsibility for the short-term leases. The deal also includes three office buildings at the Westwood Business Park in Coventry on which Barclays will take a 20-year lease back at around £20m and Land Securities will pay about £25m for the buildings. - (13-01-2005)

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Lloyds building to be acquired

The "love it or hate it" iconic Lloyds of London building in EC3 seems to be about to be sold to a Commerzbank fund by Deka, the German fund manager. Deka's property fund arm is selling the building for about £257m as part of an excercise to stabalise its property fund operations following a major outflow of funds. Deka originally paid £180m for the building in 1996. In the summer Shelbourne Developments, the Irish property investor, was due to acquire the building but the deal fell through after cracks in the concrete structure were said to have been found. Follow-up surveys are reported as failing to find any cracks. - (21-12-2004)

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Ludgate West to be enabled

Before Christmas, British Land is to begin enabling works on its 17,000 sqm (182,987 sq ft) Ludgate West development site on Farringdon Road. However, a start date for construction has not been determined nor has a main contractor appointed. Work may commence during 2005 but is unlikely without a sizeable pre-let. The architect is Skidmore Owings & Merrill - (27-11-2004)

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GPE predicts West End recovery

Great Portland Estates has predicted that West End office rents will pick-up in 2005 but that rents in the City of London will not revive until 2006. The company’s chief executive, Toby Courtland, sees vacancy levels falling slowly in the West End and City, which are now estimated to have about 3m sq ft and 7m sq ft of vacant Grade A space respectively. The comments were made as Great Portland announced its interim results which showed net asset value up 8.9% to 305p. The company is increasing development activity and has 13 projects in the pipeline. - (24-11-2004)

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McAleer takes the Swiss

British Land has sold the Swiss Centre in Leicester Square, London WC2, to Northern Irish property developers McAleer & Rushe for a reported £47m. The most likely fate for the striking, but ugly, 9,300 sq m (100,000 sq ft) building is redevelopment into a mixed-used office and leisure complex. The new building is likely to include a hotel and recently the Irish hotel chain Jurys Doyle was linked to the site. It is worth noting that McAleer is Jurys regular contractor for its UK based hotels and should McAleer included a hotel in its plans then it is not unreasonable to hazard a guess as to who the operator will be. McAleer is declining to comment at this early stage. Jones Lang LaSalle represented British Land. - (25-10-2004)

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Imminent start for Chesham House.

Demolition of the original premises at 132-154 Regent Street has been completed and work on the 6,596 sq m (71,000 sq ft) new offices is about to commence. The new address of the building, dubbed Chesham House, is actually now 1 Warwick Street and has been conceived by City Office Developments and Morley Fund Management. The building will be ready by autumn 2006 and the agent is CBRE. - (20-10-2004)

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Columbus Tower approved

Columbus Tower, a 63-storey, 246m high, skyscraper, has been approved by London Borough of Tower Hamlets. The building, designed by DMWR architects and Weintraub Associates, adjoins Canary Wharf and is at the western end of West India Quay, London, E14. The project needs a Section 106 agreement to be signed and will also to be referred to the Greater London Authority and the Civil Aviation Authority. Columbus Tower is to be developed by SKMC, controlled by the Abu Dhabi royal family, and Farnham Properties. The scheme includes 30,000 sq m (322,920 sq ft) of office space, a hotel and health club, 2,200 sq m (23,680 sq ft) of retail space and a winter garden. The development could be completed by 2007. GVA Grimley is the planning consultant and DTZ is advising on the commercial space. - (30-03-2004)

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Canary Wharf Group set deadline for offers

Canary Wharf Group has set a deadline of 13th February for Branscon, the Canadian property company, and Paul Reichman to make fully funded offers for the Docklands complex. The deadline is expected to clarify the position of the rival bidders to shareholders ahead of an extrodinary meeting on 23rd February, which is to vote on a recommended £1.56bn offer from a Morgan Stanley-led consortium. Recently Canary Wharf secured a £1.1bn investment deal with Royal Bank of Scotland on 5 Canada Square, let to CSFB, and 25 Canada Square, let to Citigroup. - (12-01-2004)

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Helical Bar calls bottom of the market

Helical Bar has joined other property developers in calling the bottom of the central London office market. Michael Slade, managing director, has commented to the effect that although the City of London office market has bottomed out, he saw no rapid upturn and it might not come on-stream for three years. Taking a more positive view of the West End market he has said that it will come on-stream in two years time. - (28-11-2003)

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Great Portland Estates switches to buy

Great Portland Estates has said that it is planning to start buying properties as it followed other commentators in calling the bottom of the property market in the West End. Although a few months behind others market 'gurus' with the comment, Toby Courtland, chief executive at Great Portland, is expecting to see rent rise in 2005. Great Portland reported first half pre-tax profits of £15.6m and is changing emphasis from selling properties. - (22-11-2003)

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Lambeth rejects Arup scheme

This week the London Borough of Lambeth refused to grant planning permission to the Belvedere Court scheme in York Road, London SE1. The decision was made against the officer recommendation. Belvedere Court is planned by Lend Lease and designed by Arup Associates. The refusal was based on design, overlooking of the listed County Hall, impact of retail on local shops, and loss of public open space. - (20-12-2002)

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National policy rejected

The government has rejected ideas that the UK should have a national planning guidance on tall buildings, saying "it does not believe that a separate policy is needed". The update to policy in PPG 1 (Planning Policy Guidance) will instead "underline the importance of securing well designed, safe, and sustainable developments that show respect for their surroundings". Tall building proposals will continue to be considered in their specific context. The comments are a response to the Commons urban affairs select committee report on tall buildings issued in September this year, which called for a national framework. - (10-11-2002)

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WTC4 turns to residential

City & Provincial has revised its plans for its World Trade Centre scheme and is now intending that Building 4 (WTC4), of 31,240 sq m (336,267 sq ft) will be a 24-storey residential block named Discovery Dock. The compnay has cited a 'slow' commercial office market in London and planning delays as the reasons for the change in strategy. The scheme has an exisiting planning permission for residential that can be implemented. - (30-03-2002)

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Deutsche Bank tower for EC2

Deutsche Bank is said to have plans for a 38-storey skyscraper on the edge of the City of London to be developed by its property arm Deutsche Grundbesitz (DGI). The building planned for Ropemaker Place, Ropemaker Street, London EC2 is said to be a "commercial development" and Deutsche has refused to say if it intends to occupy the building. The 200m high tower has been designed by Sheppard Robson and will rise to 10 storeys before leaning 20 degrees from vertical before straightening up. The bank was looking for a second headquarters building last year but this is now said to be no longer a top priority. No formal planning application has yet been made to London Borough of Islington. - (16-02-2002)

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London slowdown predicted

A new survey by GVA Grimley and the Confederation of British Industry expects the commercial property market in London and the South East to slow in the next six months. The slowdown is expected to be most marked in the office sector and most marked in London, where net demand is expected to halve. - (05-01-2002)

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DEGW to advise London mayor

DEGW has been commissioned by Ken Livingstone, mayor of London, to draw up a tall buildings strategy for the capital. Laoro Nicholaou, the DEGW project manager, has said that the firm has been given "a blank sheet" on which to produce its recommendations. DEGW will look at whether tall buildings should be clustered together or if individual buildings should be allowed. An expert panel, led by John Worthington at DEGW, will also consider the economic case for tall buildings. DEGW completed a similar study for the Dublin last year. - (10-08-2001)

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English Heritage "spikes" tower

English Heritage has likened the proposals by Renzo Piano for the 300m high Sellar "shard of glass" skyscraper at London Bridge to a "spike through the heart of the Tower of London". The opposition from English Heritage will prompt a public inquiry into the proposals, leading to the scheme being determined by the new Environment Secretary Stephen Byers. English Heritage at the same meeting supported proposals for two residential towers at Lots Road power station in Chelsea, undoubtably far enough away from any heritage sites, and regarded by English Heritage as "two high quality tall buildings which we think will enhance river views and the skyline of this part of London without damaging the historic environment." It may be sometime before we hear such comments from English Heritage about an office tower in the City of London. - (02-07-2001)

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Derwent Valley acquires site in E1

Derwent Valley Holdings, the specialist central London developer, has acquired Centric House, the former warehouse building, in Shoreditch High Street, London E1 for around £21.7m. The 31,586 sq m (340,000 sq ft) building has been acquired from Hayes Commercial Services and will be leased back for one-year. Derwent Valley is thought to be planning to redevelop the 0.5ha (1.2 acre) site for offices and storage facilities. The site, which is just north of the Broadgate office complex, is the latest of several proposed regeneration projects for the area. - (30-05-2001)

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Skyscraper site being assembled

The Corporation of London has been linked with plans to develop a 2ha (5-acre) site on the fringe of the City. The site is bounded by Shoreditch High Street, Norton Folgate, Folgate Street and Commercial Street in London E1. Ownership is thought to be mainly in the control of Railtrack as well as the interests of the Corporation of London. An announcement on the scheme is due in the next two months. There have been persistent market rumours of a 50-storey skyscraper, codenamed 'Cosmos', being planned for a site near Broadgate and Foster & Partners is said to be the architect for the project. - (30-04-2001)

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SDS delayed again

The strategic plan for London is said to have been delayed and will not now be released for comment until 7th May. The proposals document of the Spatial Development Strategy (SDS) was originally due for release in December 2000. The question seems to be is Nicky Gavron, the deputy mayor, still in charge of the SDS planning policy?. There are reports in last weeks planning journal that London mayor Ken Livingstone is taking an active involvement and asked his economic advisor, John Ross, to rewrite parts, hence the latest delay. - (22-04-2001)

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Strategic thinking

The strategic plan for London will recommend a massive redevelopment to the north-east and east of the City according to deputy mayor Nicky Gavron. The spatial development strategy will rethink London's transport provision and could support the regeneration of land in the Lee Valley and Thames Gateway areas. The main strategic policies are due to be published in a consultation document in April, with a more detailed draft by the end of 2001, and a final version ready in by late 2002. - (25-03-2001)

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"Shard of glass" revealed

The designs for the £350m skyscraper at London Bridge station, SE1 have just been unveiled. The 66-storey tapering glass tower, designed by Renzo Piano and Broadway Malyan, for developer the Sellar Property Group, will, if built, be the tallest in Europe at 1,016 ft tall. The lower half of the tower is planned as a 27-storey 55,741 sq m (600,000 sq ft) office block, with the upper 15-storey as a hotel and apartment complex. A planning application for the "shard of glass", otherwise known as the London Bridge Tower, could be submitted to the London Borough of Southwark next week. The scheme has been reduced by about 14-storey following initial comments from CABE, the architectural advisory body. There seems little doubt that this scheme, along with Heron's Bishopsgate tower, will become the centre of debate, around which London local government and advisory bodies will finally have to establish an agreed policy towards tall buildings. - (20-03-2001)

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Court of Common Council agrees Heron scheme

The Corporation of London's Court of Common Council has voted in favour of the planning committee's recommendation that permission be granted to Heron's 110 Bishopsgate skyscraper in EC3. The building at 43-storeys will become the City's tallest tower. The secretary of state, John Prescott, has three weeks to call the scheme in and English Heritage is said to be carrying on its campaign to stop the proposed development. - (02-02-2001)

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Canary Wharf assembles land bank

Canary Wharf Group has announced that it exchanged contracts with Wetherby Limited to purchase the 2.8ha (6.7 acre) area of land, known as 'Shed 35', immediately to the north of the Canary Wharf complex in London E14, for about £53m. Completion of the agreement is due in November 2000. Shed 35 has an existing planning permission for a 1.9 million sq ft mixed use commercial development of offices and hotel. This site combined with the Riverside site, recently taken into full ownership and control of Canary Wharf, provides the potential for 3 million sq ft of office space to cope with future demand. - (09-11-2000)

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Westminster to say 'no' to skyscrapers?

The City of Westminster has unveiled its policy document for office buildings in the Borough and has continued its restrictive policies on skyscrapers. Westminster may in future grant planning permission for tall buildings, but only if the development "is of the highest architectural and urban design quality". The proposals drawn up by the City of Westminster planners follows research by EDAW consultants and was expected to identify the Paddington Basin area as an acceptable location for tall buildings. Westminster's planners have instead recommended rejection the idea of designating zones for skyscrapers and the report concludes that "on the whole, Westminster is an unacceptable location for high buildings". On a positive note the report puts forward the idea of creating several "special policy areas", including one for preserving the 'creative industries' in the Soho area. The report, which forms part of the Council's Unitary Development Plan process, is being considered by the Planning Committee on 26th September 2000. - (27-09-2000)

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