Construction to start immediately on Viñoly's Walkie-Talkie
Land Securities has finalised its joint venture agreement with developer Canary Wharf Group to build Rafael Viñoly’s Walkie-Talkie tower.
Construction on the 37-storey tower, expected to cost £500 million, will start immediately and completion to ground floor level is planned for February 2012.
Building work will then start on the superstructure, with the tower scheduled to be finished in the second quarter of 2014.
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 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.”
Planning consent for the Walkie-Talkie was granted in October 2009, but work on the project immediately slowed down due to the recession.
The tower, located at 20 Fenchurch Street, will provide 64,000sq m of office space with a skygarden on the top three floors.