85 Gracechurch Street
City of London Corporation approves plans for a new 32-storey tower and cultural hub

City of London Corporation approves plans for a new 32-storey tower and cultural hub

20/03/2023 by Buildington
Plans approved by Committee

The City of London Corporation has approved plans for a 32-storey tower at 85 Gracechurch Street in the City EC3.

The development promises to rejuvenate Leadenhall Market, creating over 27,000 sq m of new office space and offering major new public spaces while showcasing the City's 2,000-year history.

Architects Woods Bagot designed the plans for the Hershten Group, which include an imposing ground-floor public hall complete with food, retail, and event spaces.

The hall will reopen a historic pedestrian route between Gracechurch Street and Lime Street Passage, increasing footfall into the market.

The development will retain and restore the 1930s facade of the existing nine-storey building and feature a fifth-floor heritage garden and free public exhibition celebrating the site's history as the heart of Roman London.

The plans also make provision to display any significant Roman remains in situ in the basement.

Significant areas of urban greening and the creation of over 600 new cycle parking spaces are part of the development, which has been designed to high sustainability standards.

The Museum of London is collaborating with the developer to create a fifth-floor cultural space featuring finds from nearby sites and an educational facility for schools, as well as a new visitor attraction that could offer a virtual reality experience of life in Roman London. The heritage garden and exhibition will link to a public walkway with views over the rooftops of the neighboring Leadenhall Market and across the City beyond.

Shravan Joshi, City of London Corporation Planning Applications Sub-Committee Chairman commented: “Developments such as this are a vote of confidence in the City as a global business hub and will helps us meet the continued demand for high-quality office space in the Square Mile.

“This scheme sets a high bar for others to follow. It will create major new public hall, a pedestrian route and a cultural space showcasing the rich history of this part of London, supporting our Destination City vision of the Square Mile as a seven-day-a-week visitor destination.

“We worked closely with Historic England to ensure preserving and showcasing the archaeology of the location – in situ in the event of any significant remains found – was at the heart of these plans.

“This development will create new jobs, boost the economy of the Square Mile and drive significantly increased footfall to Leadenhall Market, helping to boost the market’s appeal as a major visitor destination in its own right.”

Find out more about the submitted plans here.

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