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Green Light for London Wall Office Scheme

Green Light for London Wall Office Scheme

Recent planning acceptance for a new ┬ú350m office scheme on London Wall means yet another development for the capital’s Square Mile.

Pictured: Current buildings on London Wall.

Two new landmark office properties are set to be constructed on the site of St Alphage House tower and podium, which will be pulled down to make way for this latest development in the City of London.

Designed by Make architects, the London Wall Place scheme will introduce 500,000 sq ft of prime office space along with landscaped roof gardens, open space, and views over both the historic London Wall and the ruins of St Alphage Church Tower. The space will be split across two buildings – one 300,000 sq ft headquarter office building, and one 16-storey tower providing 195,000 sq ft of office space.

The creation of a series of new bridges and walkways will improve access to other parts of The City, and the Barbican’s highwalk system will also be retained.

Martin Jepson, MD of the London division of developers Hammerson, said that the plans have received “overwhelming recognition” from the City of London community based on the quality of the scheme.

“(This is) a result of our commitment to constantly evolving the design and challenging traditional preconceptions of both the site and occupier’s needs,” he said. “This is a prime location… We expect London Wall Place to become a well-known City landmark.”

Following approval by the City of London’s planning and transportation committee, MAKE partner Ian Lomas said that the firm are “proud” of the development and are pleased to have been given the green light by councillors.

“This is a complex site and the scheme balances the needs of Barbican residents with the reinvigoration of the City,” he added.

One final hurdle remains in the form of London Mayor Boris Johnson, who is yet to confirm his approval. A decision is expected within the next two weeks.

Completion is due in 2014 and occupation is expected in mid-2014. If the completion schedule is met, this will coincide nicely with the general consensus that Central London – and particularly the financial district – will be experiencing a shortage of prime office space between 2012 – 2014. This latest development will therefore arrive at a time when, due to a number of lease expiries and break clauses, tenants may be looking for new office space.

Another new development that is set to be completed in 2014, in time for this shortage, is The Pinnacle, which is set to resume construction following funding issues.

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Image source: Trevor Harris

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Author: | June 29, 2011 | 0 Comments

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