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Heron Annual Lunch 2011 Speech by Gerald Ronson

admin — Tue, 29 Mar 2011 15:03:53 +0000

Gerald Ronson, Chief Executive of Heron International, a leading pan European property group, today addressed an audience of 350 opinion formers and business leaders at the Heron Annual Lunch 2011 in London.

The content of his speech is set out below:

Sports presenters often say “for those of you who don’t want to know the score please look away now”. If only it was that simple.

Whilst I am not Mr Happy about what is happening in the market as a whole, last year I predicted that it would be ‘The Year of the Heron’ and it has been a year of milestones and achievements. In January this year we secured planning consent for Heron Plaza, comprising a Four Seasons hotel, luxury apartments, retail and the creation of a substantial new public open space in the City of London adjacent to Heron Tower. We have also completed Heron Tower and have already let 20% of the space, meeting our expectations at this stage of the project, and we look forward to its official opening in a few months’ time.

The City of London’s attraction as a global financial capital remains strong as evidenced by the fact that UK property is still attracting significant interest from overseas investors. In fact, 40% of the buyers for apartments in our residential scheme, The Heron, have come from investors from places such as China, India, Russia and Malaysia. The attraction is not just the property and its position at the heart of the City of London but also weak Sterling and other benefits such as the attractive UK tax environment for non- domiciled investors. The remaining 60% has been sold to domestic buyers taking the total sold off plan to well over half of the development; this is well ahead of our expectations.

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Heron Tower reaches practical completion

admin — Tue, 29 Mar 2011 12:39:36 +0000

Heron International, the pan European property group, and Skanska, one of the world’s leading project development and construction groups, are pleased to announce that Heron Tower, the tallest building in the City of London, has reached practical completion.

The building, which reaches 230 metres into the skyline, is located on Bishopsgate at the heart of the City, moments from Liverpool Street Station. It provides 40,836 sq m of commercial office space, along with a restaurant and sky bar on levels 38-40.

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150 of the 284 apartments sold off-plan since March 2010

admin — Wed, 01 Dec 2010 16:24:23 +0000

Heron International, the pan European property group, is pleased to announce that The Heron, its luxury residential development currently under construction on Silk Street in the City of London, has won an award in the category of Best High Rise Development at the UK Property Awards sponsored by Bloomberg TV, held on Saturday evening at the Royal Lancaster Hotel, Hyde Park, London. The awards take into account all aspects of the development including location, design, appearance, amenities and marketing.

Heron International is also pleased to announce that interest in the development remains very strong and 150 of the 284 apartments in the scheme have now been sold off plan, less that nine months since marketing started. The development is due for completion in 2013.

The Heron is the first major residential development in the City of London for over 30 years. With a private club, a landscaped roof garden, gym and full concierge services, it will set new standards for City living, providing a range of highly specified suites, one, two and three bedroom apartments, premier apartments and penthouses.

City living has never been more appealing: restaurants, bars, galleries and more are all nestled in-between the businesses and national landmarks

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The Peak, Victoria SW1 secures first office letting official quoting rent of £65 per sq ft announced

admin — Wed, 01 Dec 2010 15:40:55 +0000

Heron International, the Co-operative Insurance Society and AXA Real Estate Investment Managers are pleased to announce that they have let the sixth floor of The Peak, their award winning 98,000 sq ft retail and office development located opposite London’s Victoria Station, to Global Infrastructure Partners. Following this letting, the developer for the first time has announced an official quoting rent at £65 per sq ft.
The investment fund is expected to move to the 10,800 sq ft space early next year and will commence fit out immediately.
The ground and lower ground floors of The Peak were pre- let to Halifax on a 15-year lease in January 2008. Halifax’s branch in the ground floor of the development is already trading; a branch of HSBC will open in the second ground floor retail unit from December.

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The Peak named West End Development of the Year’ at the Offices 2010 Awards

admin — Fri, 22 Oct 2010 07:04:32 +0000

Heron International, the Co-operative Insurance Society and AXA Real Estate Investment Managers are pleased to announce that The Peak, their joint office development located opposite London’s Victoria Station, has been named ‘West End Development of the Year’ at the Offices 2010 Awards. The development, which offers eight floors of prime office space right at the heart of Victoria, has impressive green credentials and offers clear floor plates of 11,000 sq ft with excellent levels of natural light on three sides.

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Secures £115 million development facility

admin — Mon, 09 Aug 2010 12:44:59 +0000

Heron International, the pan European property group, today announces that it has secured a £115 million loan facility to finance the construction of The Heron, its residential development in the heart of the City of London. The £115 million facility, believed to be the first of its kind for any significant speculative residential development since the credit crisis, is being provided by a syndicate of three banks – Santander, HSBC and Investec with Santander and HSBC as Joint Lead Arrangers.

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Heron International appoints Sir Robert McAlpine Ltd

admin — Mon, 09 Aug 2010 12:31:20 +0000

Heron International, the pan European property group, today announces the appointment of Sir Robert McAlpine Ltd as the Main Contractor for its residential development in the City of London known as The Heron. The Heron will be a slender 36-storey tower providing much sought after luxury living space in the Square Mile. In addition to 284 highly specified suites, apartments and penthouses, the development will incorporate a landscaped roof garden offering a stunning urban oasis, a residents’ club lounge, gym, screening room, and valet parking. The lower floors of The Heron will provide a new home for the Guildhall School of Music & Drama, one of Europe’s leading conservatoires. Work on site will commence this week, with completion expected in 2013

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Heron Annual Lunch 2010

admin — Wed, 12 May 2010 06:33:01 +0000

Yesterday was a big day for Heron as we celebrated the Topping Out of the Heron Tower, now officially the tallest building in the City of London. We bought the site in 1999, started work in 2006, and this time next year it will be completed. Despite the length of the project, it is hitting the market at the right time and is just one of the £1.5 billion of development projects Heron is currently working on in the City of London.

Whilst we are still punching away, there is no denying that events since 2007 have accelerated the process of change in the property business. The industry is going through an evolutionary process; the property developer, though not extinct, is on the endangered list.

The dynamics have been changed by the absence of construction finance and the amount of equity that is needed. This makes it very difficult for the development industry to function. Having said that, the banks appear to have achieved a more stabilised base under which to operate but they have a major role to play in regenerating the industry from a development and investment perspective because you can’t have either without the banks. They need to support responsible, professional developers who know their business, where prudent development risk is justifiable. It has the added benefit of creating investment and jobs at a time when both are clearly needed.

Currently the property market is being driven by the availability of cash. Understandably investors find the returns from prime property, for which there is a premium, far more attractive than they do having their cash in the bank; it is also one of the best hedges against inflation.

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The City’s tallest building tops out

admin — Wed, 12 May 2010 06:30:17 +0000

Heron International, the leading pan European property group, and Skanska, one of the world’s leading construction firms, today held a topping out ceremony to mark the structural completion of Heron Tower, the landmark development at 110 Bishopsgate, London. The 46-storey development, which is being constructed by Skanska and is on schedule to be completed in February 2011, will provide 40,836 sq m of commercial office space with a public restaurant and skybar on floors 38-40.

Situated just 200 metres from Liverpool Street station, Heron Tower will be a world-class office building at the heart of London’s financial district. The development will set the standard for offices of the future, incorporating a number of unique features, including a triple-height entrance hall with the biggest aquarium in any commercial building, ten high-speed double- decker lifts and a full-time five star concierge service.

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The Peak – launch ceremony

admin — Wed, 12 May 2010 06:26:51 +0000

The Peak, a new landmark office and retail development opposite London’s Victoria Station, will today be officially opened by Boris Johnson, Mayor of London. The development is a joint venture between Heron International, a leading pan-European property group, and its partners AXA Real Estate Investment Managers and the Co-operative Insurance Society.

This striking new building, in a prime central London location, is one of only five major new developments (over 50,000 sq ft) to be delivered in the West End in 2009. The 98,000 sq ft development provides 78,800 sq ft of office space, with 19,200 sq ft of retail space on the ground and lower ground floors. The ground floor and basement of the building have been pre-let to HBOS plc, providing a new financial services outlet for Halifax immediately opposite Victoria Station, a major hub for public transport throughout the South East of England.

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