January 2012 Archives

A new era north of Oxford Street will soon dawn for Savills as it moves its HQ to client Great Portland Estates' 33 Margaret Street, W1. The development promises a host of improvements on Savills tired-out base at Grosvenor Hill, which group chief executive Jeremy Helsby likens to a chicken factory. As well as more room for staff, the smart new digs should be more to the liking of those wealthy overseas clients who want to drop in when they are in town.

But after more than 30 years at Grosvenor Hill, the move early next year is bound to be a bit of a wrench. As one Savills staffer reminisces, "I remember when people used to bring their labradors into this office."

Barclays Capital's latest Skyscraper Index published this week provides a gloomy forecast for the UK economy this year. But, rather than complex financial modelling,it points to the historic link between the completion of tall towers and countries going into recession.

It says that the world's first skyscraper, the Equitable Life Building in New York, was completed in 1873, coinciding with a five-year recession; the Sears Tower in Chicago (now the Willis Tower) was finished in 1974, just as the oil shock shook the economy; and the Petronas Towers in Kuala Lumpar were built in 1997, just as the Asian financial crisis took hold.

So, with Irvine Sellar's 1,017ft Shard set to complete in May 2012 and take the crown of tallest building in the European Union, perhaps London should prepare for the worst.

The Equitable Life building in New York, completed in 1873 coinciding with a five year recession.

The Sears Tower in Chicago, completed just in time for the 1974 oil shock.

The Petronas Towers in Kuala Lumpar, completed in 1997 - as the Asian financial crisis rocked the country.

London's Shard, set to complete in 2012...

This group of cheery gents hit on a novel idea during their stay at Hemingways beach resort in Watamu Marine Park, Kenya - dressing up in somewhat unsavoury fancy dress costumes as Somali pirates.

The group of South African businessmen then paraded around on the beach outside the next door six-star Medina Palms resort, which is being marketed by Knight Frank for Cheltenham-based developer Nigel Rowley. The stunt scared the bejesus out of holidaymakers already worried about recent spates of piracy and kidnapping, but Knight Frank said it had not scared off prospective buyers.

A spokeswoman said: "Watamu is an international location and the Medina Palms development continues to attract interest from around the world."

So there should be plenty of pieces of eight rolling in, then.

It was a happy new year for Gerald Ronson. The Heron International boss completed his rehabilitation after being convicted in 1990 for his involvement in the Guinness share trading scandal by being awarded a CBE in the Queen's New Year's honours List for his charity work.

In fact, Ronson was doing good even during his time in Ford Open Prison. One anecdote from his autobiography tells how he helped a thief named Peter run the London marathon, raising £10,000 for the St Mary's Save the Baby Fund, and even arranged for him to present the cheque to Sir George Pinker, the Queen's gynaecologist.

At the presentation, Pinker asked Peter what he did for a living. Peter replied "I'm a thief." Pinker turned to Ronson standing next to him and explained he was a little deaf and asked him to repeat. Ronson replied: "He said he was a thief, but don't worry because he's not a violent thief, just a well-known thief."