Reports suggest Arab Investments and Schroders are in talks to lease half of the planned skyscraper
The developer of the Pinnacle tower in the City of London is reported to be in talks to lease up to half the building, which would enable it to secure the funding needed to go ahead with construction of the project.
According to Bloomberg, Arab Investments is in talks with fund manager Schroders, which may rent out 250,000 ft2 of the 64-story tower. Such a deal would allow Arab Investments to secure a £750m loan.
Brookfield were appointed contractor in 2007 on the project but work has only just become visible above ground level.
CBRE have been appointed as joint leasing agents with Savills.