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A consortium of investors is understood to be in talks to buy the stalled Pinnacle tower development.

French fund manager Axa is leading a consortium of other overseas investors that hope to buy the 22-24 Bishopsgate site in the city, according to a report in the Sunday Times.

Pinnacle developer Arab Investment and Saudi Arabian sovereign wealth fund Sedco have been looking for a buyer after funding dried up on the landmark London project.

The 63-storey tower, nicknamed the helter-skelter because of its complex twisting profile, would be the tallest building in the Square Mile.

Brookfield Multiplex started the project in 2010 but funding dried up just after Byrne Brothers started pouring the building core back in 2011. The seven-storey core has since been nicknamed the Stump.

Several attempts to refinance the project failed and architects have been commissioned to draw up a less costly tower design for the site, but property agent CBRE was also called in to find a buyer for the site last year.

Mace will start work in January on the next major tower project at London’s £3bn Elephant & Castle regeneration scheme.

London Mayor Boris Johnson, with developers Mace and Canadian residential operators Realstar, has confirmed work is to begin on the 457-home Newington Butts project.

The site is owned by the Greater London Authority and will become one of the largest long-term rental developments in the capital when finished in 2018.

Homes in the 44-storey tower, designed by Rogers Stirk and Harbour, will be available on long leases and will mirror similar style longer-term rental apartments in large cities in the US.

The tower will also include a new theatre space for the Southwark Playhouse and a café as well as retail and marketing space.

The Newington Butts site was among 670 hectares of surplus public land taken on by the Mayor in 2012, more than 85% of which has now been moved into the development pipeline.

The new development will include 179 low cost homes for rent and shared ownership, being delivered by social housing provider Peabody.

The project bears a strong resemblance to the One the Elephant housing block being built by lend Lease.

In September, the Mayor announced two further Greater London Authority owned sites, Silvertown Way in Canning Town and Pontoon Dock in Newham which are now being brought forward for institutionally backed private rented sector homes.

Chief operating officer of Mace Investment, David Grover, said, “Since Mace was selected as the GLA’s partner for Newington Butts, we have been working through the options for this complex project to deliver much needed housing for the capital.

“We are now able to move forward and deliver an iconic piece of real estate, which will be a strong addition to the London skyline, reinforcing the capital’s position as a major city in the world to live in and work.”

We are delighted that we have been able to demonstrate the strength of our rental and property management service to a range of clients.

Highlights include:

• Renting and managing an entire development in Holborn within a week of the development being completed with most rented prior to completion
• Renting an apartment for £4,000 pw in Knightsbridge and managing the property for the owner
• Renting a range of apartments in Bloomsbury. In each case tenants where found before the new owner took legal ownership of the property- achieved by working with the previous owner and lawyers. We manage the properties for the new owners
• Renting and managing a range of apartments in Canary Wharf, Mayfair, Deptford, Surrey Quays, Fitzrovia, Kings Cross and other areas of London, achieving rent in excess of the level previously achieved.

We provide:

• Highly experienced team and a personal approach
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• No hidden charges and payments from other parties
• We are fair but ultimately on the landlord’s side- giving you honest, pro-active and straightforward guidance
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We hope that we will be working with you soon.

Detailed plans have been submitted for one of the last remaining sites on the Canary Wharf estate.

A 28-storey office with a facade curving to a wider lower basement is being proposed for 1 Bank Street at Heron Quays West.

The 146m high building has been designed by KPF, with a view to signing up two major tenants for the new building.

Outline plans were approved by Tower Hamlets back in April for the site. The detailed plan contains an atrium giving the office design a wider skirt on the lower floors and roof terrace.

Adamson Associates, acting as executive Architect is leading a full consultant team, which includes Arup is structural engineer and Hilson Moran the mechanical engineer.

Canary Wharf Group is aiming to obtain a pre-let before construction starts and is reported to be in talks with French bank Societe Generale.

The Heron Quays West site was previously earmarked for a three building scheme, with the highest tower being 33 storeys.

This has been revised to two major buildings of a lower height.

A similar height office block is planned for the adjacent 10 Bank Street, on Heron Quays West. Enabling works have begun after it received full approval.

We are delighted to be able to offer a modern studio apartment in the Binnacle House, 21 Wapping Lane.

• Good buy-to-let investment or London base
• Fourth floor
• 344 sq ft
• Completed and available without any chain
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Asking price: £369,000

More information is available at: http://www.zoopla.co.uk/for-sale/details/34813216

Click here to access the particulars: Particulars

Our list of properties being advertised on Zoopla is available at: http://www.zoopla.co.uk/for-sale/branch/property-inside-london-london-62224/

For further information please email

CHRISTIAN@PROPERTYINSIDELONDON.COM

or call

+ (44) 07443 939300

Source: Chestertons Research

London apartment builder Telford Homes  has struck a deal to progress the first phase in the redevelopment of Poplar Business Park in East London.

It lifts Telford Homes’ development pipeline to over £1bn future revenue for the first time in the group’s history.

The three-phase scheme will create a total of 392 new homes in a location only 800m from Canary Wharf and just to the North of the new Crossrail station.

Telford Homes will pay land-owner Workspace £16.3m for the first phase, which will be developed with 120 open market homes, 50 affordable homes, and 8,000sq ft of light industrial space for Workspace.

The development rises to 22 storeys with construction expected to be completed in 2018.

Jon Di-Stefano, Chief Executive of Telford Homes, said: “We are delighted to partner with Workspace on this fantastic opportunity.

“For the group’s development pipeline to be in excess of £1bn is an exceptional milestone and, along with a strong forward sold position, Telford Homes is in an excellent position to deliver substantial growth over the next few years.”

Developer Landmark Estates has made its first foray into the London market. The firm, which has been responsible for a slew of projects along the south coast over the last fifteen years, has just snapped up a site in Battersea with plans for a new £8m resi scheme.

Wrenbridge and Legal & General Property have launched their latest development in Westminster; the transformation of an old post office building into a nineteen-unit scheme.