The Heron Tower in the City of London was completed just over a year ago, becoming one of the capital’s most sought after office space locations. Due to the skyscraper’s success, it has now been revealed that a second Heron skyscraper is to be built – this time for residential purposes.
Gerald Ronson, the property developer and famous tycoon responsible for the £175m Heron Tower, has now announced his second project known as ‘The Heron’. The proposed skyscraper is thought to be 36-storeys high, comprising of luxury apartments; ideal for professionals who work in and around the Square Mile.
The location of The Heron will be next to the Barbican Centre, in EC2, and will be the first large residential scheme to be built in London’s financial district since the Barbican Estate in the the 1970’s.
Last year, Search Office Space revealed that a new phase of commercial property development was planned in the City of London, known as the ‘refurbishment era’. This meant that no more skyscrapers were to be erected, as refurbishment of existing business centres was more economically viable.
However, in terms of residential property, skyscrapers are becoming a popular theme. The West End’s famous Centre Point skyscraper is set to become largely residential, whilst new schemes in Covent Garden and Nine Elms are also being developed.
The Heron project has been so well received, that pre-sales of 200 of the 285 apartments have already taken place – some of which will now provide a new home for The Guildhall School of Music & Drama. The remaining 85 flats will go up for sale once the project is complete.
Mr Ronson told press, “After more than 50 years in the property business, I can honestly say this is one of the buildings that I am most proud of. And the good news is that we are already 80% pre-sold and the building isn’t even finished for another year.