Work starts on 50-storey City of London tower

Developer Mitsubishi Estate London, construction manager Lendlease and development manager Stanhope have started preliminary work on the 50-storey tower development at 8 Bishopsgate in the City of London.

Last year, the City of London Corporation gave approval to the project’s revised plan and since then site clearance work has been under way.

The 204m-structure will feature 52,000m² of prime office space, retail units on the ground floor and a public viewing gallery at its summit.

Construction work on steel-framed £300M project is expected to complete in late 2022.

The tendering process for the major steelwork package is still ongoing.

Mitsubishi Estate London CEO and Managing Director Yuichiro Shioda said: “This long-term project is a key strategic investment for Mitsubishi Estate London, and the ground-breaking underlines our ongoing confidence in the City of London’s position at the forefront of international commerce.

“The tower will be a landmark scheme for the Square Mile, and we anticipate significant interest from occupiers attracted by the development’s unrivalled location, distinctive design and high-quality space.”

Stanhope Chief Executive David Camp said: “We are delighted to be continuing our partnership with Mitsubishi Estate on this striking landmark building for London. 8 Bishopsgate will deliver the next generation of office building that will improve occupier experience and attract high-quality occupiers from within and outside of the City of London.”