British property developer Sellar and Japanese project developer Obayashi have announced plans to build a “country-style” tower near Liverpool Street.
Sellar, who previously developed The Shard, plans to build a £500 million, thirty-storey tower at 60 Gracechurch Street. The skyscraper will replace the current eight-storey building on the site, which is home to German financial services company Allianz.
The proposed tower was put out for consultation today. A second consultation will take place in late spring before a full planning application is submitted in the summer. The City of London’s planning decision is expected towards the end of the year.
According to the development team, construction is scheduled to begin in 2026 after the existing building is vacated and be completed in 2029.
“Our aim is to create a building with spaces that meet the needs of modern users. This is essential to attract leading companies and ensure London retains its status as a global city,” said Sellar’s Managing Director James Sellar. “We look forward to working with the City of London Corporation and other local stakeholders on the next stages of this exciting project.”
The project is one of many new buildings that will complement the London skyline in the coming years.
The City of London has announced that it plans to provide an area the size of 70 football pitches for City employees to return to their offices as demand for office and rental space in London continues to rise.
“Having completed a full refurbishment of Bracken House in 2019, we are delighted to continue our investment, particularly in the City, with the development of 60 Gracechurch Street,” said Bruce McAra of Obayashi Properties UK.
“We have assembled a world-class team to deliver on our vision of an exemplary commercial building that contributes to the evolving City Cluster,” added McAra.
Other developments planned in the area include the 32-storey 85 Gracechurch Street building designed by Woods Bagot, the 33-storey 70 Gracechurch Street building by KPF and the 32-storey 55 Gracechurch Street building by Fletcher Priest.
