Severfield to Replace William Hare on 22 Bishopsgate Project

Severfield to Replace William Hare on 22 Bishopsgate Project

Severfield has been lined up by Multiplex to replace William Hare on its 22 Bishopsgate project.

William Hare was previously in line to build the 62-storey tower steelwork, but main contractor Multiplex has now made the decision to go with Severfield for the job.

It is believed that Severfield is set to begin work in mid-December, subject to final contracts being agreed.

Other subcontractors working on the scheme include Keltbray, which has been carrying out demolition and excavation work in the building’s basement, and Careys, which is building the tower’s concrete core.

Since the vote to leave the European Union in June, the main investor behind the project asked the scheme’s remaining backers whether they wanted to proceed with construction of the tower.

According to Bloomberg, Axa Investment Managers-Real Assets gave the project’s co-investors three options: start construction this year as planned; delay; or sell it.

The other investors supporting the scheme include Singaporean Temasek Holdings Pte, Canada-based Public Sector Pension Investment Board, and British Columbia Investment Management Corp.

The contentious skyscraper has also been subject to potential right-to-light legal claims, which has prompted the City of London to buy a stake in the project to stave off concerns.

The local authority sanctioned its acquisition of interest in the development at a council meeting on April 5 this year, using sections 227 and 237 of the Town & Country Planning Act 1990, overriding certain rights of third parties where land is acquired by a local authority for planning purposes.

This effectively prevented nearby property owners from blocking the project in the courts and allowed work to start on the project.

The 22 Bishopsgate design replaced the previous Pinnacle scheme, for which construction started in 2008 before being suspended in 2012 because of the economic downturn.

The new designs include a 278 m-tall tower – 10 m lower than the previously approved scheme – with 130,000 sq m of office space. The high-rise office tower will also feature a restaurant and bar, retail space and a public viewing gallery.

Severfield to Replace William Hare on 22 Bishopsgate Project
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Severfield to Replace William Hare on 22 Bishopsgate Project

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Severfield to Replace William Hare on 22 Bishopsgate Project
BDC 280. MAY 2021

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Severfield to Replace William Hare on 22 Bishopsgate Project