Not working out
Our pictures of David Pearl training at one of his new gyms (10 July, p58) raised a few eyebrows. Luckily, we’d already dealt with all the ensuing puns in the copy: there was plenty of talk of “slimming down his portfolio”, “getting on his bike”, “gym’ll fix it”, etc. Pearl got involved, too. Asked mid-workout whether he was alright, he shot back: “Alright, physically. I don’t know about financially.”
Now, following this week’s demise of BURA (Analysis, p53) he has more to sweat about – the regeneration body was his tenant. Perhaps its former HQ in Hatton Garden, EC1, could be home to one of Pearl’s new power plate studios.
A fraction of retail wisdom
Last week’s annual European Public Real Estate Association conference in Amsterdam included a session entitled “Global retail titans”. Among them were David Simon of US giant Simon Property and Peter Lowy of Australian heavyweight Westfield.
The event gave the rivals a chance to get a few things off their chest. Simon jokingly revealed that he was irked by a reference to Westfield’s Century City mall in a novel he was reading, growling: “It should have been mine.” Lowy, meanwhile, had a straightforward answer when the panel was asked for its reaction to the projection that internet sales will lead to the closure of around one-third of all shopping centres. His response? Own the other two-thirds.
Logo no-go for Ark rooftop
GE will shortly move into its new London home – The Ark in Hammersmith – ending the stunning building’s unfortunate history as a white elephant. Its roof, seen perfectly from the Hammersmith flyover, screams marketing opportunity, and GE has a fittingly recognisable logo. Sadly, Diary hears that there are fears that it presents too much of a security risk. Given that GE is landlord as well as tenant, that sounds like a “no”.
A pane-ful process
Hammerson’s decision earlier this year to improve safety at its 125 Old Broad Street, EC2, tower by extending the canopy at first-floor level has paid off after another pane of glass dislodged from the building. The window shattered in its frame on the 24th floor, and the fragments were captured by the scaffolding below.
Hammerson has been working hard to solve the problem, having submitted a planning application to the City Corporation in May to implement various safety measures, and may consider reglazing the entire building at a cost of around £10m.
A Hammerson spokesman said: “The safety of the people working in our building and the wider public is of paramount importance to us, and we are conducting a full investigation into the reasons for the recent glazing failures.”
Madelin’s best gag is a gas
To the College of Estate Management’s annual lunch last Friday to see Roger Madelin pick up the Property Award 2010 – his proudest moment since he picked up his cycling proficiency badge, he quipped.
Madelin made a brief, typically entertaining and fabulously indiscreet speech. It took in Argent’s likely collapse in four years’ time – a prediction based solely on the fact that the business of previous award-winner Godfrey Bradman went belly-up a mere five years after he took home his CEM gong. And he poked fun at his chairman – though Sir David Clementi will be well used to that by now.
But he saved his best line for City of London chief planner Peter Rees who, claimed Madelin, was delivering on a personal commitment to cut his carbon contribution by one-fifth. Rees has bought a new Porsche which produces 20% less carbon than his old one.
A step in the right direction
It takes more than a London Tube strike to deter the hardy judges of the Estates Gazette Awards. All were present and correct for judging last Tuesday and all late arrivals were, of course, forgiven.
But in adversity comes opportunity, and it seems that the awards have already helped to grease the wheels of commerce. With no Tube trains running and snarled traffic ruling out buses and cabs, two of property’s leading lights were seen heading off to walk across the West End together, relishing the opportunity to talk business in peace.
Pop up! Hawthorn extends carbonated footprint
Hanover Green partner Kevin Hawthorn was fizzing with excitement this week, after housing a second major drinks producer in one of his clients’ buildings. The Thames Valley specialist has earned the handle “King of Pop” after bringing Coca-Cola Enterprises’ 100,000 sq ft HQ requirement to Invista’s New Bakers Court in Uxbridge. The deal follows hot on the heels of Hawthorn securing rival drinks giant Pepsi as a tenant at Aviva Investors’ Arlington business park in Theale, Berkshire. Let’s hope all this sweet success doesn’t rot his teeth.
noella.pio.kivlehan@estatesgazette.com
