Shard of Glass – Stake through the heart of Mayors dream

Published by webmaster for Mayor of London's Press Office in Communities

Ken Livingstone and his dream of housing Transport for London (Tfl) at the proposed London Bridge Tower, known as the Shard of Glass, were dealt a serious blow when it was revealed that the Shard consortiums plan to re-house PriceWaterhouseCoopers (PWC) had fallen through.

Shard of Glass developers, Sellar Group, had planned to relocate PWC, who currently occupy the Shard site, to 200 Aldersgate, a move which would’ve given the green light to the 66-storey Tower. Unfortunately, the deadline, which expired over the weekend, passed without any tangible agreement. The developers now have less than six months to find a new home for PWC in order for construction to commence on the present site.

Ken Livingstone is strongly behind a Transport for London move to the Shard of Glass, and bizarrely described the commercial package on offer as   " impressively attractive " and that people would " kiss him " once they realised how impressive the agreement was, this despite the quoted rents being £45 per square foot, a figure almost 30% higher than what Transport for London are generally prepared to pay, and amongst the highest south of the river. A pre-let arrangement for Tfl, of some 300,000 sq ft of offices, together with the PWC relocation, would have provided a green light for the project.

Tony Arbour AM said: "There must be a better, more effective, value added use of taxpayers money, than to pay over the odds shoreing up what now appears to be a commercially unviable project "

Ends

Press release issued: May 15 2006