20fenchurchconstruction-p1

31 August 2011
MEDIA RELEASE

The concrete contract for the 20 Fenchurch Street office development in the City of London, dubbed the ‘Walkie Talkie’, has been awarded to P.C. Harrington Contractors Limited, it was announced today.

In a fillip for the local economy, the Southall-based company was awarded the contract by Canary Wharf Group plc (Canary Wharf Group) to pour the concrete for the substructure of one of London’s landmark new office buildings. The terms of the contract were not disclosed.

Starting this month, P.C. Harrington will pour 28,000 cubic metres of concrete into the building’s foundations, equivalent to 11 Olympic-sized swimming pools, supported by 6,000 tonnes of steel reinforcements sourced from Nottingham steel works. The largest single pour is around 2,300 cubic metres.

As announced in October 2010, 20 Fenchurch Street is being jointly developed by Land Securities and Canary Wharf Group, with the latter acting as construction manager. Completion to ground floor is planned for February 2012 and final completion is anticipated in 2014.

Approximately 165 people, including three apprentices, will work for P.C. Harrington on the concrete works. The entire project is supporting around 3,000 jobs throughout construction.

Cormac MacCrann, Executive Director of Canary Wharf Contractors Limited said “20 Fenchurch Street has come a long way in a short space of time. Since construction began in January we have put in over 300 piles, finished the excavation, installed cranes and we’re rapidly preparing for the first of the concrete pours.”

“We are doing our bit for the economy by sourcing locally where possible and it is great to welcome P.C. Harrington onto the team. 20 Fenchurch Street will ultimately help London retain its reputation as the best place in the world to locate a business.”

The UK’s construction output grew by 0.5% in the second quarter of 2011, according to Office of National Statistics figures. Construction makes up about 6% of the British economy.

Canary Wharf Group-led economic development schemes such as East London Business Place have placed over £700m in contracts with small and medium-sized local suppliers since 1997.

ENDS

For further information, please contact:

Hamish McDougall Canary Wharf 020 7418 2326 hamish.mcdougall@canarywharf.com

Donal McCabe/ Naomi Curtis Land Securities Group plc Tel: 020 7024 5460/ 5411 Naomi.curtis@landsecurities.com

NOTES TO EDITORS

About 20 Fenchurch Street, EC3, London:

· Construction of 20 Fenchurch Street, EC3 officially started on Tuesday 18 January 2011

· The building’s architect is Rafael Vinoly. The building is nicknamed the ‘Walkie Talkie’ as it spectacularly flares outwards from a narrow base. It is topped by a public skygarden

· When complete, the 525 ft, 37 storey, 690,000 sq ft building will provide world class office space, with each floor offering 360° of unrivalled views · The building will bring Grade A office space to a supply constrained central London market of 2014, as more than 3m sq ft of leases per annum are expected to expire or see breaks potentially exercised during the next four years.

· The floor plates will range from 14,000 – 28,000 sq ft, providing both flexible high specification accommodation with the larger floor plates on the higher floors, appealing to a wide range of prospective tenants.

About Canary Wharf Group plc

Canary Wharf Group plc is an integrated property development, investment and management group of companies. It is focussed on the design, construction, leasing and management of grade A office space and high-quality retail and leisure facilities in central London.

Over the past 20 years the Group has regenerated derelict wharves into the Canary Wharf Estate, one of the world’s premier business and shopping districts, constructing over 15 m sq ft of office space; more than any other company in London. These buildings are occupied by 95,000 people.

The Group’s current projects away from Canary Wharf include the Shell Centre on the South Bank, which is a joint venture with Qatari Diar and 20 Fenchurch Street (Walkie Talkie) in the City of London, which is in a joint venture with Land Securities. These follow the successful completion of Pan Peninsula and Drapers Gardens.

Canary Wharf Group’s tenants, clients and occupiers include some of the world’s leading business organisations from the media, legal, accounting, financial services, IT, energy and transport sectors. Canary Wharf Group has also developed and successfully let over 200 shops, bars, cafes and restaurants including many of Britain’s leading brands.

Canary Wharf Group has been named one of the Sunday Times 60 Best Green Companies in the UK since 2008, was the Property Week Offices Developer of the Year 2010 and also won the Christie’s 2010 Award for Best Corporate Art Collection and Programme at the International Art and Work Awards.

Canary Wharf Contractors is a wholly owned subsidiary of Canary Wharf Group plc.

www.canarywharf.com

About Land Securities Group plc

Land Securities is the UK’s largest commercial property company and a member of the FTSE 100. The company owns and manages more than 29 m sq ft of property, from shopping centres to offices.

Half of the company’s multi-billion pound portfolio is in London, where it owns landmark buildings such as the Piccadilly Lights, and has developed some of the Capital’s most innovative mixed-use schemes, such as Cardinal Place in Victoria, New Street Square in Midtown and One New Change in the City of London. Land Securities’ investment portfolio also includes around 60 retail parks and shopping centres such as Cabot Circus in Bristol and St David’s in Cardiff.

For more information see www.landsecurities.com