Mitsubishi Estate Company London has unveiled plans for a new £900m skyscraper to be built in the heart of the City’s insurance district.
The Japanese investor, which has appointed Stanhope as development manager on the project, will shortly submit an application for a new 40-storey office building on the site currently occupied by 6-8 Bishopsgate, EC2, and 150 Leadenhall Street, EC3.
The Wilkinson Eyre-designed building would boast a 770,000 sq ft gross area, including a public viewing gallery at level 40 and ground floor shops and restaurants.
A public consultation over the plans was held in the City this week.
The design features a series of stacked blocks which taper as they rise.
Leases in the existing buildings expire at the end of this year, paving the way for a potential start on site in 2016, subject to planning.
The scheme is sandwiched in between British Land’s and Oxford Properties’ completed Cheesegrater tower at 122 Leadenhall Street, EC3, and the vacant 22 Bishopsgate site, EC2, where an Axa-led consortium will shortly submit plans for a new scheme to replace what would have been the Pinnacle.
It occupies a prominent location fronting both Bishopsgate and Leadenhall Street and is therefore expected to appeal to both financial and insurance-based occupiers.
MEC London chief executive Naoki Umeda said: “The submission of this application represents Mitsubishi Estate’s confidence in the City of London’s long-term growth prospects as a world financial centre, and its attractiveness for blue chip companies.”
Gerald Eve is advising on planning.
