The construction of the Pinnacle skyscraper in central London is to recommence after a new consortium has acquired the site. The existing structure, however, will be demolished and a new development will be started from scratch [1].
The Pinnacle to date
The building development, also nicknamed ‘the Helter Skelter’ started construction in 2009 however to date only seven of the proposed 63 storeys have been built after the project ran in to difficulties. Work halted on the project multiple times, once because the developer failed to sign up significant tenants and again due to financial issues.
Figure 1 below shows a Google Street View image of the development site as of 2012, which clearly shows the seven storeys under construction.
Figure 1: The Pinnacle under construction
The Pinnacle going forward
French investor Axa Real Estate along with developer Lipton Rogers and Temasek Holdings are to acquire the development from the current owners – Arab Investments, Sedco and Wafra.
The new plan is to demolish the existing site and start from scratch. The completion date for the development, to be renamed 22 Bishops Gate, is 2018. Once completed, it will be the tallest building in the Square Mile.
References
[1] The Pinnacle to be demolished & built from scratch as part of £300m deal, Shruti Tripathi Chopra, London Love Business. (Last accessed 03/06/15).
Image accreditation: Google Street View imagery. © 2015 Google
