The City of London is set to welcome a new skyscraper as Multiplex has been chosen to build 50 Fenchurch Street.
- The skyscraper will stand at 36 storeys, providing approximately 60,400 square metres of office space.
- The project, commissioned by AXA IM Alts, is estimated to be worth £400 million and aims for completion in 2028.
- Construction will preserve nearby historic sites and incorporate environmental sustainability.
- This appointment follows a successful collaboration between Multiplex and AXA IM Alts on 22 Bishopsgate.
Multiplex has been awarded the prestigious contract to construct the City’s latest architectural addition, 50 Fenchurch Street. Situated in the heart of London’s financial district, this new project promises to provide a significant 60,400 square metres of much-needed office space, contributing to the area’s economic dynamism. The City of London Corporation’s planning committee had earlier given this development a unanimous green light in May 2020, highlighting its importance in the region.
The design features of Fifty Fenchurch Street are ambitious; the building is set to rise to 36 storeys, slightly shorter than its famous neighbour known as the Walkie Talkie. However, what it lacks in height, it makes up for in vision. AXA IM Alts, serving as the investment force behind the project, has a history of successful ventures with Multiplex, most notably their project on 22 Bishopsgate.
The project’s estimated value has not been officially disclosed by Multiplex, yet it is projected by Glenigan at around £400 million. Such financial backing underscores the significant impact this skyscraper is anticipated to have on London’s skyline. It’s noteworthy that this development will not only focus on modernity but also respect historical precedence by retaining heritage sites, including the medieval church tower of All Hallows Staining and Lambe’s Chapel Crypt.
Environmental considerations form a crucial part of this construction, reflecting a forward-thinking approach. The development aims for BREEAM Outstanding certification and a net-zero operation, ensuring modern sustainability standards are met. Its design incorporates 70 species of plants within landscaped gardens and 40 planted terraces, promoting biodiversity and ecological balance in the urban environment.
Construction is scheduled to be completed by 2028, with Keltbray having concluded enabling works by May. They are set to start piling imminently, marking another milestone in the project’s progression. The partnership between YardNine and Arup will drive the project’s delivery and engineering design, respectively, ensuring that the project is handled with expert precision.
Callum Tuckett, Managing Director at Multiplex UK, expressed pride in the project, considering it a benchmark for future workplaces indicating a visionary standard. His sentiments were echoed by Rob Samuel, UK head of development at AXA IM Alts, who stated, “Commencing construction with Multiplex marks a significant milestone in the realisation of what we believe is a one-of-a-kind development in the City of London.”
The construction of 50 Fenchurch Street signifies a considerable advancement in London’s architectural and environmental landscape, setting a precedent for future urban developments.
