From the deals that repriced the city to the battle for modern occupiers, 2017 has been quite a year for the UK capital.
EG looks back at the stories that made the headlines, accompanied by a selection of exclusive images by aerial photographer Jason Hawkes, charting the growth of the city over the past 12 months.
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The sale of the city’s trophy assets
This was the year that marked the sale of some of London’s biggest trophy assets, from the Cheesegrater, EC3, in March to the Walkie Talkie, EC3 (pictured), which was purchased in July by Hong Kong’s LKK Health Products Group for £1.28bn in the UK’s largest ever single asset office deal.
Farewell to the Shard’s developer
On 26 February, Irvine Sellar died at the age of 82. The developer behind the Shard, SE1, one of London’s most iconic buildings, and the founder and chairman of Sellar Group, was best known for his battle against the odds to develop the UK’s tallest building in the face of planning controversy and the headwind of the financial crisis.
His son James, chief executive of the group, took over the running of the company.
University-led development
This year saw University College London submit plans for a 2m sq ft university-led redevelopment on London Legacy Development Corporation land, next to both the Olympic stadium and the Aquatics Centre, E20.
The planning application submitted to the LLDC covers a 14-acre site to be known as UCL East, and includes 1.72m sq ft of academic teaching space, as well as accommodation for 1,800 students.
Residential clusters
EG’s LOREMA report in April revealed the majority of residential tower starts over the past five years have been around clusters in inner London in Vauxhall, SW8; Elephant & Castle, SE1; City Road, EC1; Aldgate, E1; the Isle of Dogs, E14 (pictured); and Stratford, E16.
Hospitality expansion plans
In May, D&D group chief executive Des Gunewardena revealed London expansion plans for the hospitality operator, including a deal that will see a 5,000 sq ft Bluebird Café open at Stanhope’s BBC Television Centre scheme in White City, W12 (pictured).
Conserving the city
All eyes were on the UK government in 2017. As Brexit negotiations limped forward, conservation works began on Elizabeth Tower at the Houses of Parliament. Big Ben fell silent this summer and will remain so until 2021.
Regeneration of King’s Cross
In June, Google submitted modified plans for a £1bn King’s Cross HQ to accommodate 4,500 staff. The move underpins the area’s continued regeneration, which includes a swathe of new resi schemes, including WilkinsonEyre’s 145-flat Gasholders’ Scheme, N1.
Nine Elms Square sold
Also in June, China’s Dalian Wanda exchanged contracts on the Nine Elms Square site, agreeing a price of £470m before transferring ownership to two property companies listed in Hong Kong, RTF properties and CC Land.
London ‘repriced
This was the year that Hong Kong investor CC Land “repriced London” with a mammoth £1.15bn deal to buy the Cheesegrater from British Land and Oxford Properties.
Co-working in the capital 124686
From the emergence of One Blackfriars’ distinctive form (pictured) to WeWork’s agreement with Almacantar to occupy 280,000 sq ft at Two Blackfriars Place — set to become the biggest co-working space in the world — South Bank took centre stage this summer.
Turning tech
In June, the City of London Corporation launched a campaign to pitch the Square Mile as the original and future co-working space to attract tech companies and “a new wave of occupants”, offering a 5G connectivity upgrade and better transport links.
This came following a debate at LREF that revealed the City still struggles to attract tech talent, although is “getting there” with progress demonstrated through Bloomberg’s new 1m sq ft headquarters close to the Bank of England, EC2, and Deliveroo’s new 50,000 sq ft home at Cannon Bridge House, EC4.
Clear goals for property
In September, premiership footballer Glen Johnson, who entered West Ham’s youth system aged nine,
spoke to EG about his 15-year old property business.
New boss for Battersea
In November, it was announced that British Land’s head of office development Rob Samuel had been appointed chief development officer at the Battersea Power Station Development Company.
He will start in January 2018 and replaces David Twohig, who is leaving the company to start his own consultancy practice.
All’s WELL in the city
In a year of London buildings competing to be the smartest, most connected and most sustainable, Sir Stuart Lipton’s Twenty Two scheme at 22 Bishopsgate, EC2, rose from the ashes of the beleaguered Pinnacle site and is set to become London’s first WELL certified building when it completes in 2019.
Mayfair makes progress
In September, Qatari Diar announced it had appointed Rosewood Hotels & Resorts as the operator for its Mayfair hotel in the US Embassy building on Grosvenor Square, W1, with work on the final design set to start ahead of the US Embassy staff move to their new Nine Elms office (pictured).
Big year for the big smoke
Quite the 12 months. And with Brexit and talk of the end of the cycle already on many lips, 2018 is set to be another big year for the big smoke.
WHO IS JASON HAWKES?
Aerial photographer Hawkes flies and shoots London in an AS355 helicopter. These are an exclusive selection of his favourite views showing the amazing changes in London over 2017.
Hawkes, who flies and takes photographs all over the world, has clients including Amazon, Apple, Microsoft, Nike, Nokia, BT, Samsung and National Geographic.
See more of his work at jasonhawkes.com and follow his flights via Twitter @jasonhawkesphot
To send feedback, e-mail emily.wright@egi.co.uk or tweet @EmilyW_9 or @estatesgazette
