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City tower gets cut in new planning dispute

City tower gets cut in new planning dispute
13th December 2016

City tower gets cut in new planning dispute

AXA’s planned skyscraper, 22 Bishopsgate, has been forced into a re-design after a revised planning application ordered the building to lose four storeys. The change – which will make the tower 23m shorter – has been made to counter concerns that were raised over the building’s proximity to London City Airport.

The completion of the tower was in some doubt post-Brexit, however AXA committed to the project in October 2016, allaying any fears in the City, and giving a much-needed boost to the industry in the wake of the huge public vote. The project is still on course for completion in autumn 2019, with significant work such as the foundation and ground works already having taken place.

Eugene O’Sullivan, Managing Director at tenant acquisition specialists Morgan Pryce, says: “The development shows the strength of the London market, in spite of the current geo-political and economic uncertainties. There is still a depth and breadth of demand for space in London, and the new development at 22 Bishopsgate is an example of the continued – and needed – development in the City.”

This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.

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