A plan to add three storeys and a roof garden to the former London HQ of Deutsche Bank have been given the green light by the City of London Corporation.
The scheme, developed by London-based architects Orms, will see capacity at 75 London Wall increase by 40 per cent to 688,000 sq ft.
Real investors Gamuda Berhad and Castleforge Partners are acting as joint partners for the redevelopment which is anticipated to be developed in the third quarter of 2027.
It will be hailed as another boost to London’s commercial property sector, which has suffered in recent years due to work from home practice and high interest rates.
Michael Kovacs, founding partner of Castleforge, said the firm never bought the idea that office working was ‘dead’.
He said: “In order to bring workers back into the office, occupiers will increasingly look for spaces that set them apart from their competitors. We never bought the idea that office working was ‘dead’ and so it is proving as people flock back to Central London.
“The planned refurbishment of 75 London Wall will create best-in-class office spaces, in a top location with the significant amenities blue chip companies now demand for their people.
Michael Kovacs
He added: “The building will also set a new standard for sustainability in London office space making a lease here a win for the planet and a win for occupiers’ ESG strategies.”
Last month it was announced that Global hedge fund giant Citadel has agreed a deal on a new London headquarters – moving into one of two gleaming new skyscrapers coming to Broadgate.
Known as 2FA, the two new skyscrapers will be London’s first ‘twins’ and is a joint venture between British Land and Singaporean sovereign wealth fund.
Citadel will lease 250,000 sq ft of workspace, with the option to lease another 130,000 sq ft at the new City of London landmark.