The City of London has unanimously resolved to grant consent for the transformation of an existing office building into a landmark tower.
Designed by KPF, the development for Ontario Teachers’ Pension Plan (OTPP) and Stanhope PLC will retain and refurbish the existing office building and construct a new tower above it to deliver a 33-storey landmark with 550,000 sqare-feet of high-quality office space. The consented scheme will feature a viewing gallery on the 32nd floor and increase footfall and connectivity across the area, creating a new gateway to the historic Leadenhall Market and acting as a catalyst for regeneration.
“We are delighted that the City of London has resolved to grant consent for our plans for Seventy Gracechurch Street, allowing us to deliver a world-class, sustainable office development,” said Jenny Hammarlund, Senior Managing Director, Real Estate at OTPP. “This project will enhance the Eastern Cluster and create a vibrant new gateway to Leadenhall Market, enriching the area for businesses and the wider community.”
At 33 storeys this will be one of the largest adaptive reuse projects of its kind and will significantly decrease embodied carbon, compared to full demolition and rebuild.
“Incorporating retrofitted buildings into new developments is crucial for meeting our net zero goals and by working with the industry to deliver pragmatic policies,” said Shravan Joshi, Chairman of the City of London Corporation Planning Applications Sub-Committee. “We aim to be the most attractive and sustainable global financial centre for generations to come.”
“Seventy Gracechurch Street demonstrates KPF’s ‘keep and add’ approach to adaptive reuse,” says John Bushell, Design Principal at KPF. “This method can enable careful carbon guardianship and vigorous growth, while creating a southern anchor to Leadenhall market in the drive for a more social centre to the City.”
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