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A growing demand
To meet future demand, the City of London Corporation has laid out a goal to build an extra 1.2m sqm of new office space over the coming years.
The City Cluster to the east, which contains buildings around Leadenhall Street, St Mary Axe, and Bishopsgate, will accommodate much of this growth.
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The City Corporation has also encouraged the retrofitting of existing stock.
The
Developments
1 Undershaft
Planning permission for 1 Undershaft was approved last December, offering 154,000 sqm of commercial space in 74 storeys and provide nearly 13 per cent of the City’s identified office space requirement.
60 Aldgate High Street
This tower development is set to deliver over 30,000 sqm of commercial office and retail space to the City by 2028 with a height of 150m according to the development and investment company Rocket Properties.
99 Bishopsgate
Set to stand at 54 storeys, it aims to achieve the “highest level” of sustainability credentials and was proposed in response to the increasing demand for new office schemes. Multiplex Construction Europe Ltd are the appointed main contractor with RHSP responsible for the interior design.
70 Gracechurch St
Planning permission for 70 Gracechurch Street was granted at the start of February. The 33-storey tower will sit at the old headquarters of M&S and deliver over 550,000 sqm of sustainable office space. The site will provide a public viewing gallery on the 32nd floor.
85 Gracechurch Street
This hopefully soon-to-be 32-storey mixed-use development is currently being excavated by Museum of London Archaeology (MOLA) in preparation for the construction of the tower, leading to archaeologists uncovering the remains of London’s first Roman Basilica.
130 Fenchurch Street
This 31-storey tower, which is involved in a public consultation ahead of planning approval, will involve the demolition of the site’s current 16-storey 1950s building. Construction is expected to get underway in 2026 and to complete by 2030.
2 Finsbury Avenue
The multi-tower development at 2 Finsbury Avenue will offer 63,000 sqm of office floorspace, 1,000 sqm of retail space and 1,800 sqm of learning space. The project, which is a joint venture between GIC and British Land, is set to finish construction later this year.
50 Fenchurch Street
The City is set to welcome the ‘super green’ Fenchurch Street development amid growing demand for low carbon, mixed-use office space. The property will be one of the lowest carbon workplace towers in the UK, with an expected completion in 2028.
100 Leadenhall
Plans for this 56-storey building, dubbed the ‘The Diamond’, were approved back in 2018. Situated in the eastern cluster of the financial district, the new 263 metre-tall building will include two podium terraces and a public viewing gallery on the top two floors.
55 Bishopsgate
Approved in 2023, the plans for 55 Bishopsgate will make it one of the tallest buildings in Europe – at 284m – and the third biggest in the City, just behind the One Undershaft scheme and 22 Bishopsgate. It is set to house 7,000 workers.
60 Gracechurch St
This £500m, 36-storey building was approved by the City of London Corporation last December. The proposal was put forward last April by the UK property developer behind The Shard – Sellar – and Japanese developer Obayashi. Construction will start in 2026 once the existing building is vacated and will be completed in 2029.
63 St Mary Axe
The proposed development will be 46 storeys, and sit at the edge of the City of London’s Eastern Cluster. As with many other planning applications approved recently, the scheme will be sustainable and provide a range of public amenities.
1 Leadenhall
Located between Bank and Fenchurch Street, One Leadenhall is expected to complete this year providing 40,000 sqm of office space.

