the Southwark Towers occupational lease from the building's tenants, PricewaterhouseCoopers. Vacant possession of the site was secured a year later, after PricewaterhouseCoopers completed the relocation of their operations. In September 2007, preparations for the demolition of Southwark Towers began. However, later that same month, turbulence in the financial markets reportedly put the Shard's construction in jeopardy, threatening to render the project an example of the Skyscraper Index. In November 2007, building contractor Mace was awarded the contract to build the Shard for a fixed price of no more than £350 million. However, this price increased to almost £435 million in October 2008. In April 2008, demolition of Southwark Towers was visibly under way, and by October, the building had been substantially reduced in height, and was no longer visible on the skyline. The demolition was completed in early 2009, and site preparation began for the construction of the Shard. Funding Towards the end of 2007, the gathering uncertainty in the global financial markets sparked concerns about the viability of the Shard. However, in January 2008, Sellar announced that it had secured funding from a consortium of Qatari investors, who had paid £150 million to secure an 80% stake in the project. The consortium included Qatar National Bank, QInvest, Qatari Islamic Bank and the Qatari property developer Barwa Real Estate, as well as Sellar Property. The deal involved a buyout of the Halabi and CLS Holdings stakes, and part of the Sellar Property stake. The new owners promised to provide the first tranche of finance, allowing construction of the tower to begin. In 2009, the State of Qatar consolidated its ownership of London Bridge Quarter (known now as Shard Quarter), including The Shard, through the purchase of the private Qatari investors' stakes. Shard Quarter is today jointly owned by the State of Qatar and Sellar. Architecture Renzo Piano, the project's architect, designed The Shard as a spire-like sculpture emerging from the River Thames. He was inspired by the railway lines next to the site, the London spires depicted by the 18th-century Venetian painter Canaletto, and the masts of sailing ships. Piano's design met criticism from English Heritage, who claimed the building would be "a shard of glass through the heart of historic London", giving the building its name, The Shard. Piano considered the slender, spire-like form of the tower a positive addition to the London skyline, recalling the church steeples featured