London builders on alert as City tower gets planning green light

London tower builders are on alert after plans for a 32-storey scheme in the Square Mile were approved by City planners this morning.

The scheme at 55 Gracechurch Street at the southern end of Bishopsgate is being developed by Hong Kong firm Tenacity.

Drawn up by Fletcher Priest Architects, the tower will feature 25 floors of office space on top of a six-storey podium with a public garden at the base.

According to documents filed with City of London planners, the scheme is aimed at start-ups and traditional City occupiers and is described as “hybrid, new generation, resilient” workspace.

Consultants working on the job include heritage specialist Montagu Evans, QS Alinea and structural and facade engineer AKT II.

Mace and Sir Robert McAlpine are both expected to run the rule over the work although Building understands another would-be bidder, Multiplex, is thought to have ruled itself out.

Others thought to be interested include Lendlease, Skanska and Laing O’Rourke.

The existing eight-storey building, built in 1992 and designed by Sheppard Robson, will be torn down with the site part of the City cluster of tall buildings that includes 22 Bishopsgate, finished by Multiplex before Christmas, and the Walkie Talkie at 20 Fenchurch Street and whose shadow the Fletcher Priest scheme will sit in.

Several neighbouring offices and the government’s heritage watchdog Historic England had objected to the proposals. Historic England said it will damage views of both the Tower of London and Tower Bridge.

Other schemes due before the City’s planning committee in the coming months include KPF’s 33-storey scheme at nearby 70 Gracechurch Street for the same developer and British Land’s plan for a 37-storey tower at 2 Finsbury Avenue drawn up by Danish architect 3XN.