One London construction project is moving toward delivery as developers advance plans for what will become the tallest tower in the City of London. The £1 billion skyscraper will rise to 309.6 meters above the Square Mile and establish a new focal point within the capital’s financial district. Once completed, the landmark development will rank among Europe’s most significant commercial construction projects while reinforcing London’s position as a global business destination.
Formerly known as 1 Undershaft, the project occupies a strategic site between the Gherkin and the Leadenhall Building. The tower will deliver approximately 1.2 million square feet of office-led accommodation while introducing public spaces, cultural facilities and elevated viewing areas. Developers expect the scheme to support long-term investment, attract multinational occupiers and strengthen commercial activity across the City cluster.
The City of London Corporation granted planning approval for the project following several design revisions. Preparatory works have already started through the deconstruction of the existing St Helen’s Tower, while the project team continues advancing procurement and financing activities ahead of full-scale construction. Developers expect major construction activities to begin in 2028.
One London Construction Project Signals Confidence in Prime Office Development
The One London construction project arrives as demand continues growing for premium office space across London’s financial district. Developers increasingly focus on modern buildings that combine sustainability, connectivity and workplace flexibility. Consequently, major investors continue backing large commercial schemes despite economic uncertainty across several global markets.
Aroland Holdings is leading the development with advisory support from Perennial Holdings. Stanhope serves as development manager, while Eric Parry Architects designed the tower. Together, the project partners aim to create a future-ready commercial environment capable of meeting changing occupier expectations over the coming decades.
The skyscraper will stand higher than 22 Bishopsgate and become the tallest structure within the City of London cluster. In addition, the development will match the height of The Shard, placing it among the tallest buildings in the United Kingdom. The project therefore represents another major step in the ongoing vertical expansion of London’s commercial core.
Developers selected one of the most connected sites in central London. The location sits within walking distance of six London Underground lines and the Elizabeth Line. As a result, future occupants will benefit from strong transport access across the capital and surrounding regions.
The site also benefits from proximity to hundreds of restaurants, hotels and public amenities. Therefore, the project aligns with broader efforts to create mixed-use business districts that support both professional and social activities.
One London Construction Project Prioritizes Sustainability and Public Access
Sustainability remains a central component of the tower’s design strategy. The project team intends to integrate advanced energy-efficient systems, low-carbon technologies and environmentally responsible construction methods throughout the development lifecycle. These measures aim to reduce operational emissions while supporting long-term building performance.
Beyond commercial space, the development introduces several public-focused features. Plans include a large public garden positioned high above street level, creating accessible green space within one of London’s densest business districts. Furthermore, visitors will gain access to one of Europe’s highest public viewing galleries.
The project will also accommodate cultural facilities designed to engage residents, workers and tourists. Exhibition spaces are expected to showcase aspects of London’s heritage while enhancing public interaction with the building. Consequently, the tower aims to function as more than a workplace destination.
Industry analysts view One London as part of a wider pipeline of high-rise developments reshaping the capital’s skyline. Several large commercial towers continue progressing through planning, demolition and construction stages. Therefore, the project reflects sustained confidence in London’s long-term economic prospects and global competitiveness.
One London Construction Project Moves towards 2033 Completion
Preparatory activities currently remain focused on deconstruction and enabling works. Meanwhile, the development team expects to appoint a main contractor after advancing procurement discussions. Financing arrangements are also progressing as stakeholders prepare for the next construction phase.
Once completed in 2033, One London will become one of the capital’s most recognizable buildings. More importantly, the project will contribute new commercial capacity, public amenities and architectural presence to the City of London. The tower is expected to play a significant role in shaping the future skyline of one of the world’s leading financial centers.
The One London development is emerging alongside several major skyscraper projects that continue to reshape London’s commercial landscape. Among them is the proposed £3 billion JPMorgan skyscraper in Canary Wharf, a landmark scheme designed by Foster + Partners that aims to become one of the largest office developments in the United Kingdom. While One London will redefine the City cluster skyline, the JPMorgan Canary Wharf tower project highlights continued investor confidence in London’s long-term office market, with both developments targeting premium workspace, sustainability and world-class architectural design. Read more about the project in our article on the £3 billion JPMorgan skyscraper in Canary Wharf.
Project Fact Sheet
Project Name: One London
Former Project Name: 1 Undershaft
Project Value: £1 billion
Location: Leadenhall Street and St Mary Axe, City of London, United Kingdom
Development Type: Commercial office skyscraper
Building Height: 309.6 meters
Floors: 74 storeys
Office Space: Approximately 1.2 million square feet
Planning Status: Approved
Planning Authority: City of London Corporation
Current Status: Deconstruction and enabling works underway
Main Construction Start: Expected in 2028
Estimated Completion: 2033
Key Features:
- Public viewing gallery
- Elevated public garden
- Cultural exhibition space
- Premium office accommodation
- Sustainable building systems
- High-capacity transport connectivity
Accessibility:
- Six London Underground lines nearby
- Elizabeth Line connection
Significance:
- Tallest building in the City of London
- Among the tallest office towers in Europe
- Major addition to London’s financial district skyline
Project Team
Developer: Aroland Holdings
Development Adviser: Perennial Holdings
Development Manager: Stanhope
Lead Architect: Eric Parry Architects
Planning Authority: City of London Corporation
Structural and Engineering Consultants: WSP
Cost Consultant: AECOM
Deconstruction Contractor: Keltbray
Cultural Partner: London Museum
Transport Stakeholders:
- Transport for London
- Elizabeth Line
Future Main Contractor: Yet to be appointed
Future Commercial Occupiers: To be announced
Project Financing Partners: Under finalization
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