LSEG to refurbish Paternoster Square headquarters after approval

The LSEG headquarters refurbishment was approved last week by the City of London Corporation, clearing the way for major works at King Edward Court in Paternoster Square. The redevelopment will modernise the London Stock Exchange Group’s base, with construction expected to begin in 2027.

King Edward Court has served as the group’s headquarters for more than 20 years. Real estate investors Oxford Properties and Hines hold the long lease, with Oxford formally submitting the planning application.

The London Stock Exchange Group signed a new long-term lease last year after its previous agreement had been due to expire in September 2028. A spokesperson said the works would create improved facilities for staff and visitors in the City.

Plans include a new ground-floor lobby, upper-level extensions to provide additional office space, and landscaped balconies and roof areas. The ground floor will be opened up to allow visitors to attend events including opening and closing ceremonies.

The Exchange’s Foundation Stone from 1801 will be placed on permanent display as part of the redesign.

Planning documents state that a principal aim is to make market activity more visible to the public, reflecting the institution’s role in the City’s financial life over three centuries.

Concerns were raised during consultation about the potential visual impact on nearby St Paul’s Cathedral. Oliver Caroe, surveyor to the fabric of the cathedral, said there could be adverse heritage impact from the proposed fifth-floor rooftop extension.

Historic England said the City must be satisfied that any harm to the significance of St Paul’s Cathedral is avoided or clearly justified. The organisation has outlined its position on developments affecting heritage settings in its formal planning guidance published on its official website.

Corporation officers approved the scheme, with a confirmation letter dated 6 February published on the authority’s planning portal.

Robin Everall, head of development for Europe at Oxford Properties, said the consent marked an important stage in delivering a renewed headquarters for one of the City’s major institutions.

Completion is scheduled for early 2029.

For more reporting on planning decisions, heritage developments and financial institutions in the Square Mile, explore our City of London coverage at EyeOnLondon.

[Image Credit | Miller Hare]

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