Multiplex confirmed for £200m makeover of 1980s City block

Multiplex has been confirmed as winner of a £200m scheme to overhaul a 30-year-old building at the Broadgate campus in the City of London.

The firm has signed on the dotted line for the job at One Exchange Square, which is also known as 175 Bishopsgate as the existing post-modern building, which was designed by SOM, runs along a hundreds of yards stretch of the thoroughfare.

Multiplex beat Lendlease and Skanska to the job which will see a 13-storey building by Fletcher Priest built on the eastern border of Exchange Square and the existing building refurbished and extended.

Designed by SOM, the current building was put up between 1987 and 1991 and its Bishopsgate frontage is described in planning documents as "dark and lacking engagement with the street".

Under the proposals, the route connecting the Bishopsgate part of the building with Exchange Square, called Exchange Arcade, will be widened while external terraces will be added along with space for nearly 800 bikes.

LaSalle Investment Management is acting on behalf of the applicant, Malaysian fund manager Permodalan Nasional Berhad.

Others working on the project include development manager M3 Consulting, cost consultant Core 5 and structural engineer Heyne Tillett Steel. Eckersley O'Callagan is façade engineer while SWECO is services, transport and fire engineer.

John F Hunt has been on site carrying out strip out and partial demolition work with Multiplex moving onto the site this month. Completion is scheduled for spring 2026.

Source; Building