Construction on KPF’s 33-storey scheme not expected to start before 2028 for summer 2032 finish
Plans by Stanhope to build an office tower at 70 Gracechurch in the City of London have been given the green light by Square Mile planners this morning.
The developer went back to the drawing board last year on the KPF-designed office tower in a bid to improve its sustainability after buying the site from Hong Kong firm Tenacity three years ago.
Original plans for a 33-storey tower were approved in 2021 but did not progress before Stanhope purchased the site in partnership with Cadillac Fairview, the real estate arm of Ontario Teachers’ Pension Plan.
The tower is staying at 33 storeys and will include three major new cultural uses, consisting of two multi-purpose spaces and one pop-up market on the ground floor, and a roof-level viewing gallery at level 32
The revised scheme will re-use parts of the site’s existing 10-storey building, currently occupied by Marks & Spencer, which would have been completely demolished under the former plans.
Work on the 550,000 sq ft tower is due to complete by summer 2032 with work not expected to start until 2028.
As well as KPF, others working on the plans include engineers Arup and Robert Bird, transport consultant Momentum and planning consultant DP9.
The 70 Gracechurch project is one of a group of proposed towers on the south-western edge of the main City cluster including neighbouring sites 85 Gracechurch Street, designed by Woods Bagot, and the 3XN-designed 60 Gracechurch which is being developed by Sellar and was given approval just before Christmas.
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