Piling for the building begins this week with completion to ground floor planned for February 2012 and final completion anticipated in early 2014.
When complete, the 37-storey, 690,000 sq ft building, will provide office space with each floor offering 360° views, topped by a public sky garden. The floor plates will range from 14,000 to 28,000 sq ft.
The Rafael Viñoly designed building is being developed by Land Securities and Canary Wharf Group plc in a joint venture that was announced in October 2010. Land Securities and Canary Wharf Group have been appointed joint development managers and both are responsible for the leasing, with Land Securities taking the lead. Canary Wharf Contractors Ltd, a wholly owned subsidiary of Canary Wharf Group, is construction manager for the £500m project.
Robert Noel, Land Securities’ managing director, London portfolio, said: “In January 2010 we were the first property company to commit to starting major developments in London in this cycle, as we saw a supply constrained market evolving for prime office space between 2012 and 2014. In starting work on 20 Fenchurch Street with the Canary Wharf Group today, we begin an exciting journey that will bring together our complementary skills in development, leasing and construction to create a new landmark for London."
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