AXA to kickstart London 35-storey ‘hanging gardens’ tower
16/8/22
Insurance giant AXA has bought the 50 Fenchurch Street site in London to build out previously consented plans for a 35-storey tower featuring a huge green wall.
The land deal with owners The Clothworkers' livery company, includes delivering a new Livery Hall on the site as well as 650,000 sq ft of offices.
Designed by architect Eric Parry, the building will give the impression of a hanging garden across the facade, pioneering extensive urban greening in the Square Mile.
Axa with partner Lipton Rogers recently completed the City's tallest tower at 22 Bishopsgate and is taking on another scheme in the face of high demand for quality office space.
Isabelle Scemama, Global Head of AXA IM Alts, and CEO AXA IM Real Assets, said: "Since the pandemic there has been a pronounced increase in demand from occupiers for high quality, sustainable and wellness-focussed offices.
"We have seen this first hand at our flagship development 22 Bishopsgate which is now 80% let and expect this flight to quality to become even more acute over the coming years as businesses adapt to new working patterns.
"50 Fenchurch presents us with another rare opportunity to secure a prime development site in the City of London, which we continue to believe is one of the most desirable office locations in the world.
"Our team's track record in development and ability to execute complex transactions quickly and with certainty for the counterparty have been pivotal in securing this new flagship investment. We now look forward to working with The Clothworkers' Company to deliver a highly sustainable new office development in the coming years."
The innovative external design will significantly enhance the environmental performance of the new building's façade.
The façade includes bespoke ceramic cladding at ground level, a seamless glazed podium level and a crafted glass detail on the upper levels.
The scheme will improve the two listed buildings. The Grade I listed Tower of All Hallows Staining will be set within a new street-level public realm. The Grade II Lambe's Chapel Crypt will become publicly accessible.
Source: Construction Enquirer