TOWER PLACE

A Case Study in Overcoming Complex Constraints and Stakeholder Challenges

• Projects by Steve Riddell at previous employers

challenges

Tower Place presented a complex development challenge due to a sale-and-leaseback deal between Tishman Speyer and Marsh, which constrained the developers’ ability to maximise value from this prominent London site. Foster + Partners, as the incumbent architects, maintained a direct link to the future tenant, Marsh, adding another layer of complexity to the design and delivery process. Additionally, the site’s freeholder, the City of London, imposed significant requirements: the reconstruction of a large tourist bus station and a public car park within the basement levels of the project.

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Creative Solutions

To navigate these challenges, innovative governance protocols were implemented, ensuring the tenant’s involvement in the design and delivery stages was meticulously managed. Any alterations to the base deal were tracked and addressed financially, maintaining transparency and control. A Construction Management approach was adopted for delivery, providing maximum flexibility to accommodate changes while achieving significant savings in both cost planning and programme timelines.

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Outcomes

Despite extensive tenant-driven variations, the project was successfully delivered on time and 3% under budget. The development became a financial success for the developer, encompassing a 387,000 sq ft mixed-use scheme that includes office spaces, retail units, a public coach park, a public car park, public toilets, and a large glazed atrium for public use. This accomplishment highlights the value of adaptive strategies and collaborative governance in overcoming complex project constraints.

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