New backers have come forward for the Pinnacle, a central London skyscraper also known as the Helter-Skelter for its twisting design.
A consortium led by French fund manager Axa is in talks to buy the site from the current owners, Arab Investments and the Saudi Arabian wealth fund Sedco, and then fund the 63-storey tower’s development.
Plans for the Pinnacle were unveiled in 2006, but work stopped during the credit crunch after some £400m had been spent building the foundations and the first seven storeys. It has since become known as The Stump.
The talks were revealed by EuroProperty magazine.
Sunday Times Business, 1
