INDUSTRY NEWS

Axa Real Estate take on Bishopgate skyscraper project

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French investors Axa Real Estate have purchased the Bishopgate Tower site for £300m, with building plans including London office space, retail space and more.

Plans to complete the originally named Pinnacle were halted by the financial crisis in 2012, resulting in Saudi Arabian investors Sedco and Kuwaiti investors Wafra selling the site in February 2015.

The 1.4m sq. ft site will be occupied by offices, shops, restaurants, a library, a medical centre, a conference centre, and sports facilities over 62 floors. There are also plans for a free public viewing gallery to be installed at the the top of the building, which will stand as the second highest building beneath The Shard at 278m tall. The building is 10m shorter than the planned Pinnacle building.

Plans for the build are to be submitted for approval this year by by site developer Sir Stuart Lipton, with construction estimated to start next year, and tenant occupation by 2019. Due to previous construction work, the foundations and basement that have already been completed are to be kept, speeding up the construction process.

Lipton Rogers, co-founder, Stuart Lipton, commented, “22 Bishopsgate will represent an elegant addition to the City of London at the heart of the cluster of tall buildings.”

By: Kirsty MacGregor

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.

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