The long-planned, long delayed residential / hotel skyscraper at One Blackfriars Road, known officially as the Beetham Tower and christened by the marketing deep-thinkers, in a grand dismissal of the basic laws of aerodynamics, as the Boomerang, is set to go ahead after the site was bought for around £150 million by developer St George.
Given planning permission in 2007, the project ran into trouble during the recession. With new money backing the scheme, construction work on the 153-meter, 53-storey tower could begin shortly.
Whether it will be welcome is another matter. Boris Johnson is a sworn foe (since becoming Mayor he's tried, and failed, to get it kyboshed); there were also numerous objections from local councils and heritage groups, which led to the tower's original 200-odd meter reach being scaled down.
The news comes amidst a growing backlash against the new breed of London skyscraper, with some critics of capitalism anointing the likes of the Shard as a symbol of the evil and menace of corporate culture run amok. Like many other newcomers, the Boomerang's designers have offered a bauble to the fickle public by incorporating a viewing gallery at the top
The tower will get a new name now that Beetham is no longer involved. And it probably needs a better nickname, too.