Office scheme will be built on former site of telecoms firm’s HQ

Mace and Multiplex are eyeing the chance to turn a 1990s building on Old Street roundabout into a 36-storey office tower.

The City fringe scheme proposes using the existing office building as the base of a 154m tower containing 65,000 sq m of space.

The pair are understood to have just received bid documents for the job, which has a price tag upwards of £150m.

Previous occupier Inmarsat, a satellite telecommunications firm, is wrapping up a move to its new head office at 50 Finsbury Square which was refurbished by Mace.

Mace and Multiplex are understood to be the only two looking at the job with a winner due later this year.

99 City Road 1

Plans for the 99 City Road site were approved last year

Designed by KPF for developer Endurance Land, the new tower aims to revive the area’s struggling tech cluster, known as the Silicon Roundabout, which has seen a number of high-profile firms leave in recent years.

The project team includes structural engineer AKT II, Atelier Ten on MEP, Publica on public realm design, planning consultant DP9, townscape consultant Montagu Evans, Sweco on vertical transport, project manager Avison Young and cost consultant Arcadis.

The job was given planning by local authority Islington council last September.

Mace and Multiplex are both in the frame for a £400m tower scheme at 50 Fenchurch Street. A winner on the Eric Parry-designed scheme is now expected after Easter.