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Heron overcomes City jitters and commits to KPF tower

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Heron International has revealed its plans to start building KPF's £350 million tower at 110 Bishopsgate at the beginning of next year.

The announcement comes in the wake of the developer submitting a planning application for its Heron Plaza development, adjacent to the Heron Tower site. It is hoped the 183m-high landmark will be completed by 2008.

The announcement came at the company's annual lunch, hosted last week at London's Savoy hotel. The tower scheme has been on the back-burner because of Heron's caution regarding a previously stagnating City office market.

Heron Plaza, submitted for planning in February, involves a new 24-storey development on the site of Staple Hall in Houndsditch.

Another adjacent building, Stone House, will be rebuilt and extended, with a new atrium and a retail arcade running through it.

The total value of Heron's plans for the site is thought to be in the region of £800 million.

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