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Tuesday, 21 August 2012

New Building Offers Office Space

Ever since the first pane of glass was placed in the Shard, formally the London Bridge Tower, it has created headlines. If you're looking towards London Bridge, you'll find that the Shard is the most prominent thing there.

In order to build the Shard, the largest available crane in all of London was utilized. Upon completion, the Shard will be the tallest building in all of Western Europe. In order for the crane to be tall enough to complete the project, it has to extend to the point of 317 meters in height (1040 feet), exceeding the height of the South London skyscraper by seven meters.

The Shard, which is being developed by the Sellar Property Group, is breaking records as it will exceed the height of the European Union building in Canary Wharf. One Canada Square was opened in 1991 and claims a height of 225 meters (773 feet).

The purpose of the 317 meter crane is to complete the construction of the upper floors of the Shard, which are 244 meters in height. In order for the building to be finished, the crane will hoist about 500 tons of steel; this should be completed in roughly 100 lifts by the crane. The spire is complex, containing about 800 individual sections of steel. Some of the steel will be put together on site while others will be completed off site and simply put into place. Those interested can visit the Shard and see that some of the steel has already been erected.

There will be separate aspects to the Shard. For example, the lower floors will be office space available for rent. The top 18 floors will be managed by Shangri-La, which is a luxury hotel company. The rest of the space will be apartments and viewing rooms for people to enjoy.

It is the current belief that the office spaces in the Shard will be high end and attract larger companies with deeper pockets. This supposition is supported by the fact that the positioning of the office space and its ideal location. This will certainly attract businesses and impress clients as well.

The Shard is a perfect example of how London is moving away from industrial projects and becoming more of a central area for finance. No longer is the Square Mile home to every major financial brand, you can find major companies in the Docklands, Mayfair and, of course, in South Bank as well.

Foreign investors have become a predominant part of the investment community when it comes to projects like the Shard. In fact, studies, such as the ‘Who Owns the City?’ from Cambridge University, shows that 52% of office space in London are owned and/or operated by foreign entities, which is an 8% increase from the 1980s. The premise seems to be that London is a safe place because of the current financial stability that can't be found anywhere else in the world. Cambridge, however, warns that London isn't safe from the economic troubles of the world and any further financial disasters in the world could lead to disaster within the financial district of London as well.

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