New London tower deal for stalled Pinnacle site

Aaron Morby 10 years ago
Share

Investor Axa Real Estate and developer Stuart Lipton have struck a deal to take over the Pinnacle skyscraper site in the City of London.

The pair, together with Asian investors, are reported to have bought the 22-24 Bishopsgate site for £220m and now plan to build a simplified tower design that will be the tallest in the city.

WSP has been signed up as the structural and building services consultant with architect PLP working on the design.

The firm was also structural engineer behind the Shard and New York’s Freedom Tower.

Contractor Brookfield Multiplex was forced to abandon construction of the Pinnacle tower in early 2012 after the core reached seven storeys when funding dried up.

The complex helter-skelter design, with customised curved curtain walling, will be dumped in favour of a streamlined, more cost-effective tower.

This will involve demolishing the existing concrete core, which led to the site being nicknamed The Stump, to clear the way for a fresh start.

Early working designs purporting to be for the new 60-storey tower have been released on the Skyscraper City internet forum, where they have been criticised for lacking the striking architectural presence of the previous Pinnacle scheme.

pinnacle-tower-london_r
Previous Pinnacle design

22 Bishopsgate
Fresh tower design for 22 Bishopsgate site

22 Bishopsgate

Plans will be submitted to the City Corporation planning authorities later this year with the aim of completing the new tower by 2018. The backers hope to start construction before the end of 2015.

 

 

Latest news

Laing O’Rourke appoints new European MD

Peter Lyons to take-up new in February
16 hours ago

Profits dip at Stepnell ahead of demerger

Turnover and secured workloads up ahead of restructure
15 hours ago

1,000-home Wolverhampton city centre scheme in for planning

ECF and council advance City Centre West build to rent scheme
15 hours ago

Sisk clinches £54m North London council HQ revamp

Haringey's iconic Grade II listed civic centre to be brought back into use
16 hours ago

Anglian Water hunts for £1bn delivery partner

Programme delivery partner wil integrate with client team over 15-year plan
21 hours ago

Ofgem approves £2.5bn Eastern Green Link 1

Work to start next Spring on cable project from Scotland to the north of England
20 hours ago

Hadden collapse costs supply chain £6.7m

"Highly unlikely" subcontractors will receive anything for their unpaid invoices
22 hours ago

Management buyout at M&E specialist

£25m turnover Kimpton in second MBO in its 60-year history
22 hours ago

BAM finalises £71m deal to replace first major RAAC school

Work to start on new St Leonards Catholic School in Durham
21 hours ago

Scaffolder hit by two tonne weight at nuclear plant

Court hands out £633,000 in fines after Dungeness B decommissioning incident
22 hours ago

Go-ahead for 860,000 sq ft East London medical campus

Whitechapel Road scheme of six new and repurposed buildings
21 hours ago

Site labour rates hit record high as cost inflation returns

Industry's biggest payroll firm says rates rose nearly 5% last month in London
4 days ago

Morris & Spottiswood acquires part of ISG fit-out division

ISG Cathedral acquisition saves 111 jobs and expands presence across England
5 days ago

New work drives Q3 construction output uplift

Third quarter activity up 0.8% despite slowdown in September
4 days ago

Octavius cuts concrete formwork strike time by 5 days

Temperature probes reduce times for safely striking formwork
4 days ago

Plan for 200-home student-led London scheme

Developer Regal is behind new Camden Town scheme
4 days ago

Green light for new £45m tax office in Portsmouth

HMRC to occupy new office complex with construction starting next year
4 days ago

Extra tunnels included in £6bn East West Rail scheme

Government unveils plans for two new tunnels in Cambridgeshire
5 days ago

Infrastructure to get £80bn boost from public sector pensions

New "megafunds" will invest in UK construction projects
5 days ago

Bidders wanted for £800m building safety framework

Fusion21 launches renewal of deal across 12 lots
6 days ago

Winchmore wins £6.5m brickwork package on Stratford flats

Latest award from Graham on £69m development
5 days ago

Motts/Jacobs JV to design £2.5bn West Yorkshire Mass Transit

First construction could begin in 2028
6 days ago

Muse signs landmark deal to redevelop Solihull shopping centre

Mell Square scheme includes 1,600 homes at 6.4ha town centre site
6 days ago

Reds10 raids house builders for two director hires

David Newey and James Bateman join as regional ops directors
6 days ago

Builder killed as telehandler overturns

House builder goes into liquidation before court hearing and £160,000 fine
7 days ago

Balfour Beatty regional MD steps down

Lindsay McGibbon is understood to be exiting for a job in the United States
6 days ago

Firms put on alert for £1.5bn decarbonisation framework

Fusion21 aims to invite bids in January for housing and public buildings retrofit framework
7 days ago

Morgan Sindall aboard for £22m London station roof renewal

Passengers will continue to use Liverpool Street Station while roof works take place above
6 days ago

Utilities contractor turns to Africa for skilled workers

IES Utilities Group recruits its 100th overhead linesman from South Africa and Zimbabwe
6 days ago

McLaren boosts building safety and refurb team

Paul Woodhams promoted to newly created MD role at expanding division
7 days ago

Contractor services