The Shard – ahead of the times?

On a recent trip down the Thames, you have to admire the stunning landscape. Whether it’s a misty day, or sun filled afternoon – London is still (in our view), one of the best cities the world has to offer. The Shard is one of the newest entries on the map but from recent articles, not everyone is giving it the thumbs up.

We reflected on the past and if you go back to the era of when Canary Wharf was being constructed, it has a lot of parallels. It was in 1982 that the area was granted the Isle of Dogs Enterprise Zone status. Some years later, construction began in 1988 and quickly there was a global recession. This left the buildings in turmoil. Whilst there was positivity for the plans at the beginning, getting businesses to fill the buildings was a different matter. It was only by 2003 that One Canada Square was completely let for the very first time.

In light of this, think about The Shard. There was always a mixed opinion on the design and architecture of the building; being in such a prominent place near iconic buildings there will always be some that resist change. Yet in general, there was agreement that the area needed to be improved and enhanced. At the critical time of being built and completed, we are again in a global recession. Maybe we are now are seeing things improve, but we are still a long way off from recovery. It’s not ‘if’ The Shard will be successful, it’s about ‘when’.

Property has changed in London too (and around the world). It’s not just about creating a commercial office building, it’s about creating an iconic place for people to visit. Creating a space that includes a viewing platform and social space will provide longevity for the future and in time will attract tourists and businesses alike. Perhaps The Shard is like One Canada Square and ahead of the game?

So whilst yes the immediate outcome may look a little bleak, we think that there is a future for The Shard and will become a building that most will love and in time won’t be able to imagine London without it.

If you want to read more about the building – take a look at the Guardian article – an interesting read.

If you are looking for commercial office space, or need advice on your existing portfolio gives us a call 0845 680 5357. In the meantime, why not share your favourite iconic building below?