Tuesday, April 13, 2010

Boom times

Tower 42 skyscraper on market for £300m

"A deal would be the largest in the Square Mile this year, indicating a growing desire by investors to bid for trophy assets." Interesting to see if it sells. Skyscraper construction is notorious for being a good predictor of an oncoming economic slowdown, see for example http://www.moneyweek.com/news-and-charts/economics/a-recession-indicator-thats-hard-to-miss.aspx

Posted by mountain goat @ 11:11 AM (1369 views)
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8 thoughts on “Boom times

  • blackrock are not stupid, they must know the market is going to crash big time after election, they are getting out whilst they can

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  • London doesn’t have skyscrapers. Lol. It’s a sprawling village.

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  • Selling it whilst it’s still the tallest office space in the square mile too – not for much longer – The Heron is taller already (although not complete), The Pinnacle will be taller still and then there’s The Shard, due to be the tallest building in the E.U. and all three are within a couple of minutes walk of Tower 42.

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  • Buildings of this type are a long term investment.

    Heron Tower will come on the market in the next 10 months (Randall on Sky). It will be a showpiece development when it arrives. Work started building that in 1999, so you can see there is a long planning/investment cycle.

    My engineer friend on Heron Tower says they have gone all out to make it look “extra special” inside. London is still a key city in Europe, and arguably top finance centre in the world. Buildings like this will always sell – unless you have a nuke or biological bomb.

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  • Alan

    London will cease to be a top financial centre of the world if taxes push funds, staff, banks etc out, this is looking very likely at the moment

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  • Heron Tower is just that – a tower. It will be towered over by the likes of the Chrysler building of the 1930’s, nevermind the groundbreakers. Admittedly a large improvement on the gimmick and trinket ferris wheel and circus tent.

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  • @5 mark… But should we worry about this? They’ve lost the country more money than they’ve earned so maybe it would be a good thing if it actually happened (empty threat anyway in my opinion).

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  • alan_540 said, “They’ve lost the country more money than they’ve earned”
    – You really can’t be serious!

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