Skyscraper Boom Reaches End as London Goes 'From Vanity to Sanity'

[marmar]

(Bloomberg) London property developers are sacrificing height and glitz for better returns as the craze for building iconic skyscrapers comes to an end, said Ken Shuttleworth, the architect of the landmark Gherkin building.

“The age of bling is over,” said Shuttleworth, who led the team at Norman Foster’s firm that designed the seven-year- old tower in the City of London financial district. He said it would never get off the ground today. “Money now drives everything, so if you can build something for half the price, you will,” he said.

While skyscrapers with nicknames such as the Shard, the Cheesegrater and the Walkie Talkie are joining the 40-story Gherkin as part of the British capital’s skyline, those buildings reflect past rather than present considerations. All of the office towers that are due to open in London by 2014 were conceived before the financial crisis and developers are increasingly adopting cheaper, less ambitious plans.

Commercial Estates Group Ltd., a privately held developer, last month said it will review a plan to build a 63-story property adjacent to Canary Wharf. Hammerson Plc (HMSO), a real estate investment trust that owns seven London office buildings, in January abandoned its design for a 32-story tower and block in the City in favor of a 15-floor office complex. ............(more)

The complete piece is at: http://www.bloomberg.com/news/2011-04-19/london-skyscraper-boom-ends-as-city-goes-from-vanity-to-sanity-.html

[NV Whino]

1. Thank dog

No more Gherkins. Ugly piece of shit.