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| 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."
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| 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."
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| 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."
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| 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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