A DRAMATIC new icon was added to the London skyline this week, with the opening of the Shard, now Western Europe’s tallest building.
This week’s unveiling is considered a triumph for architect Renzo Piano, who saw the 95-storey building go from inception to completion, but only after overcoming numerous objections and the credit crunch over a 12 year period.
Rising from the depths of the economic downturn, thanks to an almighty investment from Qatar, the skyscraper has been £1.5bn and 12 years in the making.
First sketched on the back of a restaurant menu in Berlin in 2000, the designs received planning approval in 2003, but securing the finances took significantly longer.
Funding stalled during the credit crunch, until Qatar intervened in 2009, taking on 95% of the investment.
Sheikh Abdullah Bin Saoud al Thani, the governor of Qatar Central Bank and chairman of the board of directors of Shard Funding Ltd, said: “The Shard is the newest London landmark and a beacon of the city of London’s resilience and expansion, even during tough economic times.”
“It is a symbol of Qatar’s belief and commitment to London both today and in the future.”
The Shard occupies a site next to London Bridge station on the south bank of the River Thames and forms part of the wider regeneration of the London Bridge area.
The Shard stands 309.6m (1015ft) tall. When complete it will provide the highest homes in Europe, a five-star hotel, restaurants and the capital’s highest viewing galleries.
Like many recent London buildings, the Shard quickly gained a nickname, which has since become its formal name. The Shard comes from Mr Piano’s description of the development as “a shard of glass” during the planning stages.
‘Commercial magnet’
Ali Shareef Al-Emadi, Qatar National Bank Group CEO, described the Shard as “a symbol” of Qatari investment in London: “Qatar National Bank and the State of Qatar have backed London Bridge Quarter since 2009, after other banks withdrew from funding in the wake of the credit crunch.
“This is because we strongly believed in its potential as a key regeneration project on London’s south bank and wanted to see this landmark project realised.
“For us, the Shard and all it represents, is a symbol for Qatari investment here in London.”
The Mayor of London Boris Johnson, said: “The Shard is more than just an amazing feat of engineering, it is a towering illustration of London’s determination to beat the recession and spur economic growth.
“This iconic, sparkling new addition to the capital’s skyline will act as a huge commercial magnet, pulling in scores of new businesses and offering vital employment opportunities for thousands of people.”
However, the skyscraper’s office space has yet to be occupied – it will open with 26 floors vacant, although the developers say they are in discussion with a number of companies to fill them.
Rents for the best offices in London’s financial district – the yardstick used by Shard developer Irvine Sellar for the offices at the bottom of the tower – have been £55 per square foot since September 2010, property consultant CBRE said.
That is the longest period rents have not risen since records began in 1960.
Sellar added: “The Shard is an iconic addition to the capital’s skyline and will be one that all of London can access and enjoy.”
“It will become as essential a part of a visit to London as going to the top of the Empire State building is for visitors on a trip to New York.
“It will become a new symbol for the city and something London can be proud of. The Shard is fast becoming one of the most recognizable London skyline silhouettes.”
Piano said his inspiration came from Canaletto’s paintings of the Thames and the masts of the tall ships once anchored there, and that the idea was to create a kaleidoscope of a building – to reflect the city back at itself.
Renzo Piano told Sky News: “If London is a city of mobile sky, this building is a building of mobile view – it’s never the same.
“The shards, instead of being vertical, are at an angle, and so they reflect the sky.”
Thursday marked the formal completion of the outside of the building, but work will continue inside to create the ten luxury residences, five star hotel, three floors of restaurants and office space, which will become, in the words of the developers, a “vertical city”.
A viewing platform on the 69th floor will open to the public from February next year.
