Developers Canary Wharf and Land Securities have begun talks about joining forces for the construction of the 'Walkie Talkie' skyscraper in London’s Fenchurch Street, reports The Times.
Land Securities, Britain’s largest property developer, mothballed plans for the £300m office tower during the credit crunch, but is dusting them off following a recovery in commercial property values.
Canary Wharf, which owns Britain's tallest building at 1 Canada Square, is keen to build large high-rise development projects outside its core east London estate.
The Walkie Talkie skyscraper, designed by Uruguay architect Rafael Vinoly, would be more than 150m high when completed.
The Times says Land Securities is also talking to various sovereign wealth funds about partnering it on the scheme. A decision will be made in the next few weeks.