Recently in planning Category

We like a bit of adventure here on the Focus desk. That's why on a blustery Friday morning I found myself up one of the chimneys of south west London's iconic Battersea Power Station.

OK, not literally, but after walking through the derelict grade II listed building I got into a rickety old freight lift which jolted its way to the top of the building where I could admire views of south west London at chimney level.

The building is now owned by Real Estate Opportunities and being developed by Treasury Holdings, but has been rotting and crumbling for over two decades while developers struggle to get regeneration proposals off the ground. It is being reported today that €900m of REO's loans could be transferred to the National Asset Management Agency (NAMA) within months.

I was able to explore the art deco surroundings within the Power Station at ground level and from above. Here are some images (vertigo sufferers look away now).

 

A little while ago someone told me that the Kings Cross Central partnership was offering a private and secret tunnel linking one of the new offices with the tube at St Pancras to avoid you having to mix with the great unwashed.

Ever since I've been itching to see if its true.

Earlier this week I got my chance and was offered a tour around the frankly ginormous £2bn regeneration scheme. Accompanied by Stacey Meadwell and her video camera, above is what we found out.

Sadly, tales of a secret Mr Benn style tunnel are untrue although one of the buildings will have its own public tube entrance with a tunnel - however, for a price, director Robert Evans mysteriously hinted anything is possible.

In the video Evans admits the prelet to Sainsbury's has been "dragging on a bit' and he hints there might be another occupier in the wings that could be suitable for building and could draw a line under the Sainsbury's deal for them.
 

Overview: Life after Watermark has proved to be a sharp and stark reminder of the idiosyncrasies of the property market. The UK is still in recession and landlords are still suffering and yet, occupiers are fighting each other for prime Grade A space. In the mag this week I take a look at what's left on offer and what might happen to rents and incentives. There's also a look at the market through the eyes of an investor.

Sentiment: The gloom continues to brighten, and Stacey Meadwell finds that over a third think the capital is heading for a substantial improvement in the next six months.

Planning: Mayor Boris has been overturning some large planning decisions in the capital after promising to leave local authorities to it. At the heart of the matter seems to be contributions to Crossrail.  Melanie Smith looks at the what it means for developers

Docklands: Songbird's secured its future and lives to sing another day. Daniel Cunningham looks at how that will affect Canary Wharf Group and what the future holds for the estate.

So, it has been decided. Developers will face yet another tax on future projects.

The government concluded today that the community infrastructure levy, which will apply to all types of development, will come into force on 6th April 2010.

Funds recouped in London will go directly towards the cost of Crossrail and could see the mayor well on his way to the £200m he needs to have plucked from developer's wallets for Crossrail to be up and running by 2017. However, official figures today revealed that the UK has remained in recession as the economy unexpectedly shrank by 0.4% during Q3, despite initial predictions of growth by 0.2%. Could yet another burden on the property industry further stifle economic recovery?

Tim Smith, partner in planning and environment at commercial law firm Berwin Leighton Paisner seems to think it could, especially he says, as developers won't be able to negotiate the levy on grounds that it will render development unviable. It could mean that projects currently on hold stay that way, which won't help the economy or the funding of Crossrail. So while the tax may work in theory, the reality could cause a slight conundrum for the mayor.

Picture: CGI of Crossrail station at Canary Wharf, from Crossrail 

September is West End for the Focus team so October must be the City and Docklands turn. And there is plenty to get our teeth into as headlines tell widely varying stories about the state of the market from 6 years rent free on office deals to warnings of a shortage of options for large requirements.

As part of the Focus I'll also be conducting our third London-wide sentiment survey for the year, so if you work in property in London please take time to fill it out.

All the details for this and the writers of the remaining features are below.



London sentiment As we approach the final quarter, how far has sentiment shifted since the beginning of the year - does anyone dare to predict green shoots? Complete our anonymous survey by clicking here.
Stacey Meadwell, Focus editor will be analysing the results, if you wish to submit an attributable comment on the issues raised by the survey for possible inclusion please email stacey.meadwell@rbi.co.uk

City overview Analysis of the market conditions and prospects Nadia Elghamry, deputy Focus editor, 020 7911 1849, nadia.elghamry@rbi.co.uk

Docklands Analysis of the current market conditions and prospects Daniel Cunningham, senior writer, 020 7911 1822, daniel.cunningham@rbi.co.uk

City & Docklands planning A look at recent planning decisions and the implications for the market. Contact: Melanie Smith, Focus editorial assistant, 020 7911 1916, melanie.smith@rbi.co.uk


Picture by harshilshah on Flickr and used under creative commons

Boris Johnson clearly had something to celebrate on Twitter yesterday.

Under his MayorofLondon moniker he wrote:

Crossrail is an unstoppable force. Thanks a billion to the European Investment Bank! #TfL #London http://bit.ly/17zAIL

So we've been wondering in the office if this means he will step back from using his planning powers to force Tower Hamlets to reconsider its decision to reject Commercial Estates Group's 63-storey Columbus Tower in Canary Wharf, E14.

Johnson called in the decision last week because it "would deliver a significant contribution to Crossrail". EGi subscribers can read last week's story here. Well, it certainly one way to decide tomorrow's skyline.  

Image is by Dr. Progoganda used from Flickr under the Creative Commons license.

Retail projects in South Wales are not having the easiest of times. First there is Newport which has virtually been slapped in the face by the recession with its desperately needed retail redevelopment, Friars Walk, thrown into disarray by the demise of Modus. David Quinn looks at what the council is going to do next.
 
And then there is Cardiff where CSC/LandSec has 36% of its 970,000 sq ft St David's 2 left to let with the opening less than three months away. Nadia Elghamry takes a look at the long awaited scheme and the current retail climate in a piece for the Analysis section of the mag. And, if you want to find out a bit more about why St David's 2 developers chucked burgers at the scheme's walls then click here.

Office developer face similar tough market conditions with supply on the increase and demand weak. Melanie Smith examines the stats for offices and industrial while Daniel Cunningham puts the recession to one side to examine the Welsh Assembly Government's planning system overhaul.

See this weeks EG to read more.

Picture taken by Nadia for EGFocus on Flickr and used under creative commons

Barnsley is suppose to look like a 21st Century Tuscan hill village and Bradford have a city centre lake but thankfully members of Rotherham metropolitan borough council have resisted the lure of Will Alsop's civic visions and opted for something, well, a bit more normal and realistic for its own Civic Centre.

The 172,000 sq ft scheme got planning permission today after 10 years in the making and I can't help thinking that that has dated it but I'd take bland and safe over some of the wackier Alsop creations any day.

Maybe it will look a grander design in the flesh and in these troubled economic times any development activity has got to be good.