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Helter Skelter Secures Funding

Work is soon to start once again in earnest at London's Pinnacle, formerly known as the Bishopsgate Tower thanks to a huge cash injection from its backers Arab Investments.

Work had more or less ground to a halt on the site whilst the company scrabbled around behind various sofas to find the 520 million needed to complete the project which was begun back in 2008 and so far only has 6 constructed floors.

The company had originally stumped up the initial 480 million through its own investors and in November of last year received another cash injection from the Saudi Economic and Development Holding Company (SEDCO) one of the 60 investors involved in the project and this has reduced the bank debt needed to gain more funding for the project.

The distinctive Helter Skelter takes design inspiration from naturally occurring patterns in things like shells, mushrooms and other zoomorphic objects that regularly occur in nature.

When completed it will stand at a pretty impressive 288 metres making it the 2nd tallest tower in the UK and Western Europe behind the Shard, the fast paced construction of which means it will definitely not lose the title temporarily.

The building will contain more photovoltaic solar cells than any other building in the UK with 2,000 square metres of panelling generating up to 200 kilowatts of electricity. It will also have a double-layered skin like the Gherkin which reduces energy consumption, and just to make it a bit less expensive as 1 billion is quite a bit, all the panels in the facades will be the same size.

It is hoped the new funding will be fully secured by the end of March and rather hopefully the project is still expected to be completed in 2013 ahead of its competitors the Cheesegrater and the Walkie-Talkie.
The Pinnacle, London
The Pinnacle, London
The Pinnacle, London
The Pinnacle, London