October 6, 2010
London’s skyline could be set to change once again if a major developer’s plans to build a new skyscraper go ahead.
Land Securities is said to be in talks with Songbird’s Canary Wharf Group (CWG) over a possible deal, according to reports from Reuters.
The skyscraper, known as Walkie Talkie, is to be built at 20 Fenchurch St in central London and will provide substantial office space for CWG.
Commenting on the deal, JP Morgan analyst Harm Meijner told Reuters: "It looks set to be a winning combination... for CWG as they can diversify from the Canary Wharf district and for Land Secs they will be working with a developer that has one of the best construction records."
Other projects in the pipeline include the Pinnacle – a 945 ft tall tower that will boast a million sq ft of floor space.
Land Securities is the UK’s largest real estate investment trust (REIT), as defined by equity market capitalisation. Principle properties in its portfolio include Cardinal Place and Portland House, both in SW1, as well as the White Rose shopping centre in Leeds and Lakeside Retail Park in West Thurrock.