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Walkie Talkie £300m skyscraper is back on

Contractors have been asked to submit informal tenders for the 180m London skyscraper the Walkie Talkie, according to sources at the developer, Land Securities.

Following a fall in construction prices and a future shortage of office space in the City of London, sources said they have dusted off the file for the building designed by Rafael Vinoly which is officially called 20 Fenchurch Street.

A source said: “Construction costs have fallen over the last year and we want to get an idea of the cost in the current market.”

The original cost of the 36 storey, 639,000 sq ft building was estimated at £295 million.

Planning approval for the building was originally received in 2007, but the project was stalled as the economic situation worsened.

Land Securities recently commented that the outlook for rental growth in the City had improved and this could have played a part in their decision to re-start the project.