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Wed October 28 2020

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Two huge City office schemes to go ahead

11 Jun 10 Construction is set to start on two new City of London developments totalling 1,170,000 sq ft of office and retail space in the next 12 months.

Construction is set to start on two new City of London developments totalling 1,170,000 sq ft of office and retail space in the next 12 months.

Legal & General is planning to build its 900,000 sq ft Walbrook Office scheme on a 1.5ha site near Bank station. It will carry out the demolition of the existing Bucklersbury House as part of the project.

L&G will also build a new entrance for Bank tube station.

Meanwhile, Helical Bar has submitted a planning application for a 270,000 sq ft office and retail development at 1 Mitre Square, reports Estate Gazette.

This follows the developer securing a long-term lease on the site.

Construction on the 20-storey building, which also includes improved public spaces, could start early next year.

Gerald Kaye, director of Helical Bar, said: “This is an exciting scheme with an excellent floor plate. The environment around the building will be much improved with a major upgrade of the public realm.

“With limited supply of new, good quality City office space forecast to come to the market over the medium-term, combined with the high spec of design on offer, we feel confident that this building will see strong interest from potential occupiers.”

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