A team including PLP Architecture is understood to be in line to take over KPF’s stalled Pinnacle tower scheme
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French fund manager Axa is rumoured to be leading a consortia of overseas investors - and new developer Lipton Rogers - in ‘exclusive talks’ to buy the City of London site.
The takeover could see new designs for the 288m-tall Helterskelter drawn up and submitted before the end of the year. Lee Polisano, who jointly co-founded PLP following his exit from KPF in the summer of 2009, was lead architect on the Pinnacle project.
The 63-storey tower has stood as a seven-storey concrete ‘stump’ for more than three years after its contractor Brookfield Multiplex was forced to abandon work on it during the recession in 2011.
Head of design for the City of London, Gwyn Richards told the AJ back in September that developers had mooted alternative options for the proposed office block which could simplify ‘difficult design aspects’ of the tower.
The City is pushing for action on the long-stalled Pinnacle site and has notified developers that it would be open to new designs for the scheme.
The AJ understands any fundamental redesign would need to incorporate a larger amount of public space, which is one of the stipulations of the City of London’s planning guidelines.
Speaking about the state of the current site, Richards said: ‘It sends the wrong message and we are very concerned as a City to get it moved on.’