London Office Tower Construction Back on Track

By IvyLee Rosario, Associate Editor

London—AXA Investment Managers – Real Assets will proceed with the construction of the landmark 22 Bishopsgate project in London, along with its development partner Lipton Rogers.

22 Bishopsgate

Upon completion, the new office tower, rising at the site of the former Pinnacle development, will offer a total of 1.4 million square feet (128,000 square meters) of net usable space across 62 floors. Set to be more than 912 feet (278 meters) tall, 22 Bishopsgate could become London’s second tallest skyscraper, after The Shard.

AXA IM – Real Assets expects to finalize the contract plans within the next few weeks in order to continue with construction, which was started but stopped four years ago. The high-rise is set to become the new model and standard for workplace design and management, offering a wide range of amenities including areas for leisure, health and wellbeing. Designed to appeal to a broad range of occupiers, the building’s main focus is to offer a greater space for productivity, adaptability and employee satisfaction, including new technologies and events that will serve the community of more than 12,000 people working within 22.

The project also marks the first UK building to apply for the Delos WELL Building Standard, a certification that recognises the impact that buildings have on the health of their occupiers.

“Our ongoing commitment to 22 Bishopsgate reflects our firm belief, and that of our clients and partners, in this development project, aligned to the fact we are taking a long term view of this investment,” Pierre Vaquier, CEO of AXA IM – Real Assets, said in prepared remarks.

“The decision to proceed underscores our confidence in the progressive and attractive development that we will deliver at 22, coupled with the anticipated breadth of demand from local and global occupiers for easily accessible space in a prime location in the City of London, as one of the leading global centers for international business, that will respond to their future business needs.”

The targeted completion time for the structure will be 2019.

Rendering courtesy of Martin Richardson with Riverfilm