New 60-storey skyscraper set to be London’s tallest | 20 February 2015
London’s Pinnacle skyscraper site finally has firm plans in place to build a tower that will become the tallest in the city.
Investor Axa Real Estate and developer Stuart Lipton will take over control of the problematic site, which has struggled to find the right design and investment previously. Now, Axa and Lipton – together with Asian investors – have purchased the Bishopsgate site for £220 million, constructionenquirer.com reports.
The complex helter-skelter design has been scrapped in favour of a simplified, cost-effective tower that will be 60-storeys high and 262 metres tall, pipping the nearby Heron Tower by 31 metres. Structural and building services consultancy WSP has signed on for the project, as well as architects PLP.
The building was previously known as “the Stump” due to construction work being stopped at just the seventh storey. Work on the helter-skelter design originally began back in 2008, but the site has been dormant since 2012 after funding dried up,theguardian.com notes.
With around £400 million already invested in the site near Liverpool Street Station, it could mean that, upon completion, around £1 billion will have been spent on the Pinnacle. It could take up to 18 months for new planning applications to be accepted as the tower’s design has changed, so work might not be completed until 2018.
The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.
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