The City of London approves plans for a towering 54-storey office development at 99 Bishopsgate, set to become one of the tallest buildings in the Square Mile. Located near Liverpool Street Station, the UK’s busiest transport hub, the project is expected to deliver nearly 100,000 square metres of prime office space, providing a significant boost to employment and economic growth in the capital.
With office availability in the City of London at a historic low of just 0.5%, demand for high-quality commercial space continues to soar. Global property consultancy Knight Frank recently reported a 16% increase in prime office rents, reflecting the growing competition for premium workspace in the area. The approval of 99 Bishopsgate is a direct response to this demand, supporting the City of London Corporation’s ambition to add at least 1.2 million square metres of new office space by 2040.
New Skyscraper at 99 Bishopsgate Approved
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Read More ➔A Sustainable Future for City Offices
Designed with cutting-edge sustainability features, the 99 Bishopsgate development is expected to achieve top-tier environmental credentials while creating 7,500 new jobs in the heart of the financial district. Its location near Liverpool Street Station and the Crossrail corridor will ensure seamless transport connectivity, further cementing London’s status as a leading global business hub.
In addition to office space, the project will bring a significant public realm transformation, introducing a 1013% increase in pedestrian space. A network of new walkways will connect 99 Bishopsgate with 55 Bishopsgate and 55 Old Broad Street, creating a more accessible and pedestrian-friendly environment between Liverpool Street and the City Cluster.
A Cultural and Retail Destination
Beyond its commercial role, 99 Bishopsgate will contribute to the City’s cultural and social fabric. A pavilion space within the development is set to house Intermission Youth, a charity that provides theatre opportunities for disadvantaged young people.
On the ground floor, a new retail, food, and beverage hub—branded as a ‘City Market’—will offer a vibrant mix of dining and shopping options, featuring welcoming seating areas and a pedestrian-friendly design.
City Leaders Back the Project
Shravan Joshi, Chair of the City of London Corporation’s Planning and Transportation Committee, welcomed the decision, stating:
“This much-needed office development speaks to the confidence that global investors have in the City’s real estate market and the wider UK economy.”
He also highlighted the project’s broader benefits, noting:
“99 Bishopsgate will deliver one of the largest public realm upgrades from a single planning application in recent history, improving ‘walkability’ and making the City a safer, more enjoyable place for all.”
Looking Ahead
With 22 Bishopsgate now fully let, the demand for high-quality workspace in London’s financial district remains strong.
For more updates on City of London developments, follow EyeOnLondon City.
[Image Credit: www.worldconstruction.com]
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