The existing building at 1 St Paul’s was vacated in May 2011 but the floorplate was badly configured for modern requirements and major redevelopment was needed.
Following a design competition, Axa Real Estate selected Sheppard Robson to draw up plans, which include a new reception and 60,000 sq ft of new offices, including a rooftop terrace overlooking St Paul’s Cathedral.
The plans include a change of use to incorporate residential and retail uses, with 20,000 sq ft of retail/restaurant space. The proposals also provide the potential to develop 10,000 sq ft of residential apartments. Work has begun on site and completion is due in early 2013.
Axa Real Estate’s wider City development programme is set to deliver more than 500,000 sq ft of space during 2013.
Axa Real Estate UK director of development Harry Badham said: “This latest project, combined with our existing development programme in the City, reflects our firm belief in the fundamentals of London as a business location, and the potential shortage of quality office supply due to be delivered in 2013. 1 St Paul’s will be one of the best office redevelopments in the City and will further add to the exciting changes that this part of the City has witnessed recently.”