The 36-storey Fenchurch Street office tower in London is scheduled to begin construction in 2024. The Clothworkers’ Company sold the 50 Fenchurch street property to the Insurance giant AXA. Furthermore, the company was offered with a complete planning permit for a new office tower.
The Eric Parry Architects-designed 650,000 square foot development is notable for the amount of vegetation that will be present there.
The Tower of All Hallows Staining and Lambe’s Chapel Crypt, two historic listed buildings on the site. Thus, they will be retained as part of the new public realm under the fully approved plans. A new Livery Hall will also be constructed for The Clothworkers’ Company as part of the development.
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The 36-storey Fenchurch Street office tower in London will incorporate vertical greening. This is intended to reduce air and noise pollution. Further it will improve biodiversity, as part of the City of London’s initiative for a notable increase in urban greening in the built environment. This will enable the scheme to target BREEAM Outstanding and net zero in operation.
YardNine will serve as the project’s development delivery partner. The Fenchurch Street office tower in London will be delivered in 2028.
Comments on the Fenchurch Street office tower in London
AXA IM Real Assets CEO and global head of AXA IM Alternatives Isabelle Scemama stated: “Since the pandemic, there has been a noticeable rise in demand from occupiers for high-quality, environmentally friendly, and wellness-focused offices. We have witnessed this first-hand at our flagship project, 22 Bishopsgate which is currently 80 percent leased. We anticipate that as businesses adjust to new working patterns over the next few years. This, this flight from quality will become even more acute.
We now have the opportunity to secure a prime development site in the City of London. Thus, we still consider to be one of the most desirable office markets in the world, at 50 Fenchurch. This new flagship investment has been made possible in large part by the development track record of our team. This is from its capacity to carry out complex transactions swiftly and with certainty for the counterparty. We now anticipate working with The Clothworkers’ Company in the upcoming years to deliver a brand-new office building that is incredibly sustainable.
