City’s tallest tower gets the go-ahead

A 62-storey steel-framed skyscraper – on the site of the previously planned Pinnacle – is set to go-ahead despite the uncertainty caused in the commercial property market by the vote for Brexit.

Now known as 22 Bishopsgate, the building will be the tallest in London’s financial district and is being developed by AXA Investment Managers Real Assets. The building will be 278m-tall, 10m lower than the original design that was first outlined almost 10 years ago.

AXA IM’s Chief Executive Pierre Vaquier said: “The decision to proceed underscores our confidence in the progressive and attractive development that we will deliver, 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 centres for international business, that will respond to their future business needs.”

City of London Corporation Chairman of Planning and Transport Chris Hayward said: “This decision to continue with what is a key development in the City of London’s eastern cluster demonstrates the high level of investor confidence in London’s future growth.”