Click above for what became the consented plan, plus Transport page.


Hammerson's 'Principal Place' is paused at ground level

Link to Hammerson's web site

London24: "Hammerson’s 51-storey Shoreditch tower block construction stalled"

"CMS Cameron McKenna has pulled out of talks to pre-let 200,000 square feet of the £485 million Principal Place scheme, which Anglo-French developer Hammerson was due to begin building in April.

"The development caused controversy when the original 2008 plans involved the destruction of the Light Bar, housed in a 19th century electricity substation in Shoreditch High Street.

"Hammerson’s Chief Executive David Atkins said in a statement:
“I have consistently said that in current conditions we would not expose our shareholders to excessive risk through building London offices on a speculative basis, which remains our policy."

Link to Evening Standard

Evening Standard: "Work on Pinnacle halts again as developers struggle for tenants"
"Work on the City's tallest tower has halted for a second time, because of a lack of tenants.

"Builders were ordered off the site of the 64-storey Pinnacle last week, with only seven floors completed.

"Developer Arab Investors are believed to be struggling to secure funding, because only about 10 per cent of the eventual 900,000 square feet of space has been let."

Link to web site

"Property pair are set for a bargains strike"
"London & Stamford, Ray Mould and Patrick Vaughan's third venture, after founding Arlington in the Seventies, and Pillar Properties in the Nineties, reckons the outlook for property remains uncertain in a 'stagnant' economy. With banks unlikely to be able to meet anticipated demand for loan refinancings from overborrowed investors this year, forced sales look likely."

Link to web site (to register)

"Councils take on stalled shopping centre schemes"

"Aylesbury Vale and the London Borough of Ealing step in to progress projects left in limbo by Palmer Capital and Glenkerrin..."

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