Crunching property

It might be an allegory. Plans to raise London higher with the insertion of a Shard of glass, which would become Europe’s tallest tower, are being undermined by cracks in the City’s financial foundations. The credit crunch is making it difficult to raise both money and the tower. There could be no higher profile warning that the shining returns of the UK commercial property market could be about to shatter. Commercial property’s guises are many - from prestige developments that raise London’s r...