Decisions taken by property developers to go ahead with the “Cheesegrater” and the “Walkie Talkie” towers in the City will see London’s skyline transformed in the next few years. The buildings, due to open in 2014, will be among the tallest and the most striking skyscrapers in the capital since Swiss Re’s Gherkin opened in 2004.
British Land, run by former Barclays banker Chris Grigg, said today that it had teamed up with Canada’s Oxford Properties to build the 47-storey Leadenhall Building, nicknamed the Cheesegrater because of its wedge-shaped profile.
It is the second major project in the Square Mile to be given the go-ahead within a week, a sign that confidence is returning to the City property market. Last week rival Land Securities, Britain’s biggest property developer, said it would restart work on a 37-storey building dubbed the Walkie Talkie, reflecting its shape and sloping sides, in nearby Fenchurch Street after signing a £500m deal with Canary Wharf Group. Both towers were put on hold during the credit crunch when the market ground to a halt as banks slashed jobs and cancelled office relocations.