50 Fenchurch Street going ahead with acquisition by AXA IM Alts
AXA IM Alts, acting on behalf of clients, has exchanged contracts to acquire a long leasehold interest over 50 Fenchurch Street in the City of London from The Clothworkers Company. The site has planning consent for a 650,000 sq ft landmark office development designed by Eric Parry Architects, and the practice will now work with AXA IM Alts to deliver the project.
50 Fenchurch Street will be part of the next generation of buildings helping to realise the City of London’s goal for a greener, more environmentally sustainable Square Mile. The City of London approved the planning application for the new development in 2020.
AXA IM Alts is aiming to achieve a BREEAM Outstanding rating and an operational net-zero development that includes Eric Parry’s innovative design for vertical urban greening to mitigate air and noise pollution while improving biodiversity.
The building will offer a flexible approach to space coupled with state-of-the-art technology and amenities, presenting the latest features aimed at enhancing occupier health and enjoyment. Located on the southern edge of the City’s eastern tower cluster, 50 Fenchurch Street will provide unfettered river views to the south and south-east over the Tower of London and Tower Bridge, which future visitors will be able to enjoy from a public roof garden. The site benefits from unrivalled connectivity, being served by six tube and mainline stations within a ten-minute walk from the site.
Plans include a new livery hall for The Clothworkers’ Company (which has been located on the site for almost 500 years) along with the conservation of the Tower of All Hallows Staining and Lambe’s Chapel Crypt, two historic listed buildings currently on the site, which will form part of extensive new public realm at ground level.
A Spokesperson for Eric Parry Architects said:
“Eric Parry Architects is delighted to be working with AXA IM Alts, The Clothworkers’ Company and The City of London Corporation to deliver 50 Fenchurch Street. In addition to the highest quality office accommodation, the scheme delivers major benefits for the City of London, including a 36-fold increase in public realm across the site and significant urban greening. The new project will transform the pedestrian environment to the east of Fenchurch Street Station, reinstating and improving the medieval pattern of alleys to create a high-quality route that starts at 50 Fenchurch Street and passes through 120 Fenchurch Street on its way to the heart of the City’s insurance district.”
Eric Parry, Founder and Principal of Eric Parry Architects has commented
“The commission to redevelop a site of this scale and significance is special in any city but in the historic heart of the City of London it presents a once-in-a-generation opportunity. The design journey of this urban proposition has been one of the most remarkable alignments between commerce, culture and the public realm that I have experienced. The proposal will unite more than 800 years of the City of London’s history with its future in a development that will dramatically improve the experience of the city for all.”