Seventy Gracechurch Street - new landmark sustainable office building in the heart of the City approved

We're delighted to announce that the City Corporation’s Planning Applications Sub-Committee has today resolved to grant consent for Ontario Teachers' Pension Plan and Stanhope Plc’s proposals for a new landmark sustainable office building at Seventy Gracechurch Street, located at the corner of Gracechurch Street and Fenchurch Street.

The KPF designed proposals will deliver much needed Grade A office space, a new public connection from Fenchurch Street through to Ship Tavern Passage, and North to Leadenhall Market, and three major new cultural uses, including a roof-level viewing experience at level 32.

The new building improves significantly on the previous designs, with the latest technology deployed to reduce both embodied and operational carbon. The originally consented design proposed the complete demolition and redevelopment of the existing building at Seventy Gracechurch Street.

Jenny Hammarlund, Senior Managing Director, Real Estate at OTTP, said:

“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.

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.

We’re looking forward to the next stages of the development process and working with the project team to deliver this industry leading sustainable new building for the Square Mile.”

Chairman of the City of London Corporation Planning Applications Sub-Committee, Shravan Joshi, said:

“Attention is always drawn towards the latest large new office developments in the City, but when it comes to innovative sustainable solutions, the City is leading the way on both policy and delivery to reduce carbon emissions and waste from development. It signals once more to investors, that the Square Mile is open for sustainable business.

“Incorporating retrofitted buildings into new developments is crucial for meeting our net zero goals and by working with the industry to deliver pragmatic policies, we aim to be the most attractive and sustainable global financial centre for generations to come.”