Outlook bad for Walbrook 'clouds'
The scheme, which gained planning permission last year, consists of four blocks around a central square between Cannon and Queen Victoria Streets.
Each block will be capped by different lightweight elements or ‘clouds’.
However, a source close to the scheme – the lease of which was sold by Legal & General to Spanish developer Metrovacesa for £250 million – claimed Metrovacesa is desperate to save money as the gloomy economic situation continues.
‘The expensive bit that sits on top does not make sense in this climate,’ said the source. ‘It is possible that they will dumb down the scheme.
‘A consequence is that they may have to think about new architects,’ the source added.
A Metrovacesa spokesman said: ‘We are working with Nouvel and Foster in order to improve the project. We have not made any definite decisions about the design.’