Controversial building set to launch
Britain’s most controversial and futuristic building will get its international launch later this week – and with it comes the country’s most expensive advertising billboards.
With an asking price of £120 million (S$251 million), the four gigantic media screens at The London Octopus (pictured) measure 550 sqm in size and are alongside one of London’s busiest roundabouts. Alongside Piccadilly Circus it is thought to be the best location for outside advertising in the U.K.
Joint developers London & Bath Estates and Galliard Group are keen to point out that the billboards form part of the highly futuristic development that is arguably the most cutting-edge, controversial and unusual building ever to be launched in the capital.
Designed by world renowned architectural practice MAKE, the 50-metre tall, 7,000 sqm building will provide 4,325 sqm of Grade ‘A’ office space, 550 sqm of media screens, a double height entrance lobby, ninth floor roof garden/restaurant and underground parking facilities.
Following years of planning battles and disputes, The London Octopus was finally given planning permission in December 2012 in the face of local opposition and concerns. Some objected to the cutting-edge architecture; others worried that the huge billboards would distract motorists, and some were concerned that it could set a precedent for electronic billboard-clad buildings all over London.
On the back of a resurgence in the U.K. property market, the developers have opted to launch the building internationally, starting this week.
The development will take two years to build, and as part of the international launch the developers will be reviewing potential occupiers/purchasers for the iconic building.
Kim Gottlieb, Chief Executive of London & Bath Estates said: “This is London’s most exciting, futuristic and unusual building which can deliver a range of commercial, cultural and educational requirements.
“Prior to the official launch of The London Octopus we have already had approaches from Sovereign Wealth Funds and large multi-national corporations who can see the value in showcasing their various brands and businesses on the vast electronic advertising billboards.”
Stephen Conway, Chief Executive of Galliard Group said: “The London Octopus is the most futuristic and exciting commercial building ever launched in London. Vast revenue generating advertising boards, cutting edge architecture, a sophisticated multi-functional role, and 5-star facilities.
“We believe that the branding rights to the building could be sold to a third party, whilst the media screens could either be managed directly or sold or subcontracted to one of the leading outdoor media ownership groups.”
Source copied from: http://www.propertyguru.com.sg/property-management-news/2014/3/37557/controversial-building-set-to-launch