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New Skyscraper Planned for Gracechurch Street 

New Skyscraper Planned for Gracechurch Street 
09 December 2024
 

A 36-storey office building has been approved for the site at 60 Gracechurch Street.

The building will provide 37,000 square metres of Grade A office space and will be 100 per cent electric. There will be a new sheltered public realm at ground floor level, with newly widened pavements. The building will provide a free-to-access day and evening destination, known as the “Sanctuary” space at level 35. 

There will also be a public roof garden, looking out westwards over London from the very edge of the City Cluster. This will be available for free bookings by schools and community groups.

Obayashi, who acquired 60 Gracechurch Street in 2023, plans to minimise carbon emissions for the project by avoiding basement excavation and committing to an energy strategy. 

According to figures from Knight Frank, availability in newly constructed office buildings has fallen to 0.5 per cent in the City of London, causing prime rents in the area to rise 16 per cent over the past 12 months.

Chair of the City of London Planning and Transportation Committee, Shravan Joshi, said: “The 60 Gracechurch Street proposals align perfectly with our City Plan, Climate Action Strategy and Destination City programme, delivering much needed A-Grade Office space, whilst simultaneously providing a new visitor and educational attraction, as well as contributing to our net zero goals.

“It is no coincidence that the City is bucking the global trend of rising office vacancy and stalling construction activity. With a dedicated, solution focussed planning department, combined with clear policy and strategy, we are creating an environment in which developers and investors can help us create a vibrant, thriving Square Mile, for all to enjoy.”

Picture: a CGI of the proposed building, next to the walkie talkie building. Image Credit: City of London Corporation 

Article written by Ella Tansley | Published 09 December 2024

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