Pace seeks funding for £200m Thames job

Aaron Morby 13 years ago
Share

Developer Pace Investments is searching for a funding partner for its planned £200m Sugar Quay waterside office scheme on the Thames.

The 230,000sq ft Lower Thames Street scheme is just upstream from the Tower of London and will replace the existing Seventies building.

Pace hopes to start the project later this year, if it secures funding.

Sir Robert McAlpine starts out as favourite to take the job having recently finished Riverbank House further along the Thames for Pace.

The proposed new glass-fronted office building was designed by David Walker Architects and is one of the last undeveloped waterfront sites in the City.

Stephen Down managing partner of investment adviser Gresham Down, said: “With City rents rising over the past 12 months by 25% and severe shortage of new office space predicted over the next few years developers are keen to commence new developments, but an absence of finance will mean that only the very best schemes such as Sugar Quay will get started”

For several centuries the site housed Customs officials who monitored and taxed ships and their cargo from across the globe as they sailed up the Thames.

More recently the site has been the headquarters of the sugar company Tate & Lyle as well as quoted hedge fund Man Group.

Latest project news

Galliford Try to upgrade Red Arrows base

Contractor seals quartet of RAF base upgrades
6 months ago

Galliford Try bags £87m Brent Cross build to rent job

Firm picks up another three blocks at Argent's North London £8bn regeneration scheme
7 months ago

Balfour starts £67m Edinburgh school campus

Passivhaus certified campus buildings will replace Liberton High School
7 months ago

Red wins Bristol retirement village £14m expansion

44 extra care flats to be built at former Frys chocolate factory
7 months ago

Caddick bags UK’s largest fertiliser plant job

Yorkshire contractor seals £28m contract for new plant in Yorkshire
7 months ago

Mace wins concrete bunkers for world’s most powerful laser

Firm will build two 7m tall bunkers with 2m thick radiation resistant concrete walls
8 months ago

Robertson to deliver £20m Alloa Wellbeing Hub and school

Design work will now start on Wellbeing Hub and Lochies primary school
8 months ago

Green light for Canada Water next phase of 380 homes

Zone G plan includes major resi tower, supermarket and park
8 months ago

Mace to start £230m Landsec London office job

Timber Square project will pioneer a hybrid cross laminate timber and steel superstructure
8 months ago

British Land multi-storey logistics hub approved

London urban last-mile logistics hub pipeline hits £1.3bn
8 months ago

£350m Birmingham triple tower scheme approved

Vast curving Ringway Centre to be demolished for 1,750 flats development
8 months ago

Midgard lands £245m Tottenham Hale towers

Three towers of up to 38 storeys complete north London regeneration scheme
8 months ago

Go-ahead for Wates £35m Hartlepool leisure centre job

Work on the Highlight waterfront centre to start in November
8 months ago

Green light for 690-home Birmingham Smithfield scheme

Prosperity Group plans to start work in Autumn next year on major Smithfield scheme
8 months ago

Go-ahead for 289 homes next to Saltaire World Heritage site

Ambitious plan to demolish a vacant Bradford office complex for new residential quarter
8 months ago

Plans in for 800-bed Leeds student and retail scheme

Major scheme will replace The Core shopping centre in the city
8 months ago

McAleer & Rushe awarded £60m Barking flats job

Work to start in November on near 200 rental homes project
8 months ago

ISG clinches £155m Cat D prison expansion

Firm to deliver 780 new places at three existing prison locations
8 months ago

27-storey Salford student tower approved

540-bed student block to be built on former site of McDonalds' regional HQ
8 months ago

Morgan Sindall £48m Dumfries school job approved

Building work to start before the end of 2023
8 months ago

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

Frontrunner emerges for Lower Thames Crossing 4.2km tunnel job
8 months ago

Vinci/McAlpine JV to start £105m NHS rehabilitation centre

Treasury clears New Hospital Programme job to start main construction
8 months ago

Three giant lab buildings approved at £700m Oxford R&D district

Phase 2 Oxford North office and lab buildings to deliver 460,000 sq ft of space
8 months ago

RG Group to build tallest student block in the world

Contractor confirmed on 45-storey tower in Leeds
8 months ago

Vinci wins major St Helens town centre revamp

£90m first phase includes new market hall, 120-bed hotel and over 60 flats
8 months ago

Work to start this year on Manchester £250m spa resort

Developer Therme gets green light for re-engineered 28-acre Trafford complex
8 months ago

Barhale JV sign-off for £18m Dewsbury sewage works upgrade

Project forms part of Yorkshire Water’s £500m investment in Phosphorous removal
8 months ago

Murphy seals main build on £124m Essex station

Contractor lands main contract after successful start on enabling works package
8 months ago

GMI lands latest £42m phase of lab cluster

Citylabs life sciences complex in Manchester continues to grow
8 months ago

Green light for Canada Water commercial scheme

Twin-tower scheme will offer "a new type of office for London"
8 months ago

Contractor services