Heron Tower

Salesforce Tower, 110 Bishopsgate (formerly Heron Tower) is a commercial skyscraper in London. It stands 230 metres (755 ft) tall[4] including its 28-metre (92 ft) mast making it the tallest building in the City of London financial district[5] and the third tallest in Greater London and the United Kingdom, after the Shard in Southwark and One Canada Square at Canary Wharf. 110 Bishopsgate is located on Bishopsgate and is bordered by Camomile Street, Outwich Street and Houndsditch.

110 Bishopsgate
General information
StatusComplete
TypeCommercial
LocationLondon, EC2
United Kingdom
Construction started2007
Completed2011
Height
Antenna spire230 metres (755 ft)[1]
Roof202 metres (663 ft)[2]
Dimensions
Other dimensions2,400-square-metre (26,000 sq ft) site
Technical details
Floor count46 [3]
Floor area461,478 sq ft (43,000 m2)[3]
Design and construction
ArchitectKohn Pedersen Fox
Structural engineerArup
Main contractorSkanska
Website
http://herontower.com/
The lobby features a 70,000-litre aquarium containing hundreds of fish.

Construction of the building started in 2007 and was completed in 2011. It is owned by Heron International and is still popularly known as Heron Tower, though following a naming dispute in 2014 involving the tenant Salesforce.com[6] the City of London planning committee made it clear they would rule in favour of the property being officially named 110 Bishopsgate, although the application was withdrawn before it went to committee.[7] The tower initially struggled to attract tenants in the depths of the Great Recession, but is now fully let.[8]

Design and planning

Designed by architects Kohn Pedersen Fox, the height of 110 Bishopsgate was planned to be only 183 metres (600 ft), identical to that of Tower 42, the City of London's then tallest building since 1980.

It attracted some controversy when first announced due to its proximity to St Paul's Cathedral when viewed from Waterloo Bridge. English Heritage was notably vocal in expressing concerns. A public inquiry was subsequently held, the outcome of which was decided by deputy prime minister John Prescott, who ruled in the developers' favour. The tower was given final approval for construction in July 2002.

Three years later, the project had yet to begin construction. In September 2005 the Heron Property Corporation submitted a planning application to increase the height of its approved building. Heron's revised plans now proposed a 202-metre (663 ft) tall tower topped by a 28-metre (92 ft) mast, giving it a total height of 230 metres (755 ft). Although the design was largely identical to the previous scheme, the tower's crown and southern façades were refined. In January 2006, the revised project was approved by the City of London Corporation.

In February 2013 it was revealed in The Times that backers of the tower included Prince Abdul Aziz bin Fahd, a son of the late King Fahd of Saudi Arabia.[9]

Interior

110 Bishopsgate was designed to feature a concierge-style entrance and reception area, incorporating a 70,000-litre (15,000 imp gal; 18,000 US gal) aquarium containing around 1,200 fish.[10] The aquarium is the largest privately owned example in the United Kingdom and contains over 60 species of fish in an entirely sustainable ecosystem; the species were selected by expert biologists and animal curators to ensure compatibility and adaptability to the environment. The tank is attended to by a team of two full-time fish attendants, who feed the fish a diet rich in natural ingredients according to their requirements and monitor the tank for water chemistry and fish health, and two to three part-time divers who clean the rockwork and glass regularly.

A bar-restaurant called The Drift occupies part of the ground and first floors.[11] There is a restaurant and "sky bar" leased to Sushi Samba and Duck & Waffle, both open to the public, on floors 38–40.[12] Situated 175 metres (574 ft) above the City and accessed by scenic lifts from a dedicated entrance on Bishopsgate, the restaurant and bar also have external terraces.[13]

Environment

The building uses photovoltaic cells to generate renewable energy, allowing it to achieve a BREEAM rating of 'excellent' in January 2010.[14]

Construction

In March 2007, it was confirmed that Heron had signed a funding deal with the State General Reserve Fund of Oman to provide the equity for the development.[15] The works were carried out by Skanska and completed in January 2011.[16]

  • May 2008
  • October 2009
  • January 2010
  • December 2010

Tenancy

The tower's first confirmed tenant was the law firm McDermott Will & Emery, which signed up in July 2010 while the building was still under construction.[17] However, in a difficult lettings market the building struggled to find enough tenants to fill it and in September 2013 only 59% of the available office space had been let.[18] As a result, the project required refinancing, with Starwood Capital Group stepping in to provide a £288 million refinancing facility to avoid the project going into receivership.[19]

Subsequent agreed tenants included the pensions company Partnership Assurance, investment fund manager Securis Investment Partners, stockbroker Westhouse Securities, POWA, recruitment firm Harvey Nash,[20] Openwork, and Salesforce.com, the software firm.[21] As part of Salesforce's deal to take an additional 50,000 sq ft on levels 28-31 on a 15-year lease, it reportedly purchased naming rights to the tower, just as it had for its headquarters building in San Francisco. After much deliberation with the City of London planners, the building's official name was confirmed as 110 Bishopsgate, with Salesforce Tower able to be used as an informal name.[22]

Landmark has offered serviced office space from floors 17-19 of the tower since 2011, achieving above-average occupancy rates for London.[23] The top floors of the building are occupied by the Sushi Samba and Duck & Waffle restaurants.

Proskauer Rose, another law firm, moved into the building in 2015, taking out an 18,000 sq ft lease.[24]

The London office of the U.S. publicly listed low cost online brokerage platform with clients in two hundred countries, Interactive Brokers (NASDAQ: IBKR|S&P 400 Component) is also present on level 20.[25]

In January 2016, it was confirmed that the building was fully let.[8]

Heron Plaza

The tower was designed to form the centrepiece of a larger Heron Plaza development, incorporating new public spaces and a network of squares and gardens. In July 2009, Heron International confirmed that it had signed heads of terms with Four Seasons Hotels and Resorts to develop a mixed-use project adjacent to 110 Bishopsgate.[26] In January 2011, Heron announced that planning permission for the development had been secured. In August 2014, Heron sold the site, with planning permission, to UOL Group, who said it would push ahead with the scheme and operate the hotel under its 'Pan Pacific' brand.[27]

See also

References
  1. HeronTower.com (February 2010). "Heron Tower Building Specifications". Heron Tower. Archived from the original on 11 July 2011. Retrieved 10 February 2010.
  2. Skyscrapernews.com (March 2009). "Project Description Heron Tower". Skyscraper News. Retrieved 18 March 2009.
  3. Schedule of areas Archived 11 July 2011 at the Wayback Machine
  4. Project description Archived 7 February 2009 at the Wayback Machine
  5. "Heron Tower Tops Out - Article #2509". Skyscrapernews.com. Retrieved 20 August 2012.
  6. Gower, Patrick (22 May 2014). "London's Heron to Be Renamed Salesforce Tower After Leasing Deal". Bloomberg. Retrieved 17 June 2014.
  7. Neil Callanan (23 September 2014). "Heron Tower Renamed 110 Bishopsgate in London Compromise". Bloomberg.com.
  8. David Parsley (11 January 2016). "Heron Completes lettings at Salesforce Tower". PropertyWeek.com.
  9. The Times, page 37, headline Fish in the foyer but not enough tenants to keep investors in Heron Tower happy
  10. efinancialnews.com (February 2010). "Shark set for hedgie face-off". efinancialnews. Retrieved 21 February 2010.
  11. "Salesforce Tower". salesforce-tower.com.
  12. Archived 19 October 2014 at the Wayback Machine
  13. HeronTower.com (February 2010). "Heron Tower Press Release". Heron Tower. Archived from the original on 11 July 2011. Retrieved 2 March 2010.
  14. HeronTower.com (January 2010). "Heron Tower Press Release". Heron Tower. Archived from the original on 11 July 2011. Retrieved 10 February 2010.
  15. "Heron completes financing of £500m Heron Tower". Property Week. 6 March 2007. Retrieved 20 August 2012.
  16. "Skanska installs giant aquarium in Heron Tower". Construction Enquirer. 11 August 2010. Retrieved 13 April 2017.
  17. "Gerald Ronson secures first tenant for London's Heron Tower". The Daily Telegraph. London. 8 July 2010. Retrieved 2 February 2014.
  18. "UPDATE 1-London's Heron Tower faces sale after refinancing row". Reuters. 18 September 2013. Retrieved 2 February 2014.
  19. "Starwood Capital gives London's Heron Tower $463 mln lifeline". Reuters. 7 October 2013. Retrieved 2 February 2014.
  20. "Harvey Nash Invests in London's Future". Harvey Nash Group Plc.
  21. "Four new firms setting up shop in Heron Tower". City A.M. 23 April 2013. Retrieved 2 February 2014.
  22. "Salesforce, The City of London and the etiquette of skyscraper names". Financial Times. 17 November 2014. Retrieved 4 February 2014.
  23. Business Centre of the Month: Landmark’s Heron Tower, searchofficespace.com, 13 December 2013
  24. "Proskauer's London Office Moves to 110 Bishopsgate". Proskauer Rose LLP. London. 6 March 2015. Retrieved 24 May 2015.
  25. "Institutions Sales Contacts - UK | Interactive Brokers". www.interactivebrokers.com. Retrieved 5 December 2018.
  26. Chesters, Laura (10 July 2009). "Ronson to develop Four Seasons in City". Property Week. Retrieved 20 August 2012.
  27. "Gerald Ronson sells Heron Plaza site to Singapore's UOL for £97m". City AM. 14 August 2014. Retrieved 4 February 2014.
Records
Preceded by
Tower 42
183m		 Tallest building in the City of London
2010 - Present
230m		 Succeeded by
None

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