Construction work starts on £500m Walkie Talkie

Grant Prior 13 years ago
Share

Work will start immediately on the £500m “Walkie Talkie” in Fenchurch Street after Land Securities and the Canary Wharf Group formed a development partnership today.

Canary Wharf Contractors will act as construction manager on the City of London scheme with work on the substructure and detailed design of the superstructure starting straight away.

Completion to the ground floor level is planned for February 2012.  Construction of the superstructure will follow, with completion of the project anticipated in the second quarter of 2014.

Land Securities and Canary Wharf Group have formed the 20 Fenchurch Street Limited Partnership to develop the 37 storey building which will provide 690,000 sq ft of space with a skygarden on the top three floors.

The existing cleared site has been sold by Land Securities to the partnership at a price of £90.2m.

Robert Noel, Managing Director of Land Securities’ London Portfolio, said: “Earlier this year we announced our intention to carry out this project in joint venture and we are delighted to have teamed up with Canary Wharf Group to do so.

“The joint venture brings together two substantial companies with complementary skills in the conception and delivery of large schemes in London.

“The transaction allows us to take forward other projects within our substantial development pipeline in London so that we offer a range of building types and sizes in a range of locations across the capital.”

George Iacobescu, Chief Executive Officer of Canary Wharf Group, said:  “We are looking forward to this opportunity to apply our extensive experience as a developer of large, high specification and bespoke office buildings for a diverse range of clients.

“We are also delighted that on this occasion we will be working alongside Land Securities with its own impressive pedigree and track record.

“This joint venture project will provide further evidence of our approach to the development and construction of very high quality buildings in London.”

Latest news

Bouygues/Murphy JV confirmed for £2.3bn Thames tunnel job

BMJV clinches 4.2km Lower Thames Crossing road tunnel job
2 days ago

Berkeley keeping close eye on subbies as market softens

Supply chain insolvency now bigger threat than build cost rises
15 hours ago

Roofing firm fined £881,000 after double fall

Court hears of two falls on sites involving same contractor
1 day ago

Plans in for £450m Coventry city centre regeneration

Work is expected to start next summer on City Centre South scheme
15 hours ago

Galliford Try to upgrade Red Arrows base

Contractor seals quartet of RAF base upgrades
15 hours ago

Strabag tunnel drive in Yorkshire sets new world record

Woodsmith potash mine tunnelling project to be included in Guinness World Records
1 day ago

McLaren and Arlington to develop York Central site

Developer deal signed for one of the UK’s largest city centre regeneration schemes
2 days ago

Watkin Jones plans 36-storey Glasgow tower

The Ard student rooms scheme will be Glasgow's second tallest building
2 days ago

Balfour Beatty on track for solid set of results

Country's largest contractor on course to meet financial targets
2 days ago

Brymor Group Southern heads for CVA

Hampshire builder applies for Company Voluntary Arrangement with its creditors.
2 days ago

Former Costain transport chief joins Aecom

Sue Kershaw takes up US-based vice president job with consultant
2 days ago

Industry’s best construction managers revealed

More than 80 now in the running for delayed awards: Full list
2 days ago

Materials prices plummet as housing demand slumps

Buyers report biggest fall in purchasing costs for 14 years
3 days ago

Welsh contractor Andrew Scott targets £90m turnover

Profit and revenue up at Port Talbot-based civils and building firm
3 days ago

M-AR buyer starts round of redundancies

30 jobs at risk after modular firm bought out of administration
3 days ago

First HS2 viaduct completes deck beam installation

EKFB completes beams for first of project's 50 major viaducts
3 days ago

Fatal accident at Laing O’Rourke Oxford site

Work suspended on site after tragedy
4 days ago

Homes lead the way as Bancon Group boosts turnover

Homes and contracting group looking to further growth in 2024
3 days ago

L&G Modular Homes scheme replaced by traditional build

Wolverhampton council chooses new partner and build method for £150m project
3 days ago

£33m Plymouth city centre homes scheme approved

Spring start for Bath Street scheme in Millbay regeneration area
3 days ago

Balfour renews £330m Lincolnshire highways deal

Firm will use its new operational control hub to promptly address network issues
4 days ago

Three Caledonian Modular-built schools to be demolished

DfE confirms Essex, Somerset and Northampton schools will be bulldozed and rebuilt
4 days ago

Gilbert-Ash takes £30m Tate Liverpool revamp

Work to start in the New Year on remodelling of iconic 1846 warehouse
4 days ago

HS2 Solihull mass transit enabling works out to bid

Bidding for £60m main works to start early next year
4 days ago

Modular health specialist Vanguard rescues M-AR

Deal with administrators sees Vanguard add production capacity with 100,00 sq ft offsite factory
4 days ago

Torsion forms JV to build £90m Leeds resi tower

Construction to start in January on one of Leeds' tallest towers
4 days ago

Approved change to concrete ‘recipe’ to slash carbon emissions

New approved concrete mixes will be able to blend finely ground limestone and fly ash
5 days ago

Network Rail unveils Cardiff South Central masterplan

Plans being drawn up for major housing-led mixed-use scheme
4 days ago

McLaren Living to revamp Watford police station site

Developer to submit plans for a major mixed-use development
4 days ago

National Grid £12.8bn HV civils framework hits market

Firms needed for major power line links and high voltage direct current converter stations
5 days ago

Contractor services