Proposals for a new 240-meter-tall office building in the City of London’s eastern skyscraper cluster have been submitted for planning approval.
The 54-storey 99 Bishopsgate scheme, filed earlier this week by developer Brookfield Properties, represents a key development in the Square Mile’s skyscraper boom as the area around Bishopsgate and Gracechurch Street undergoes a transformation with new high-rise developments.
If approved, the new tower would be the Square Mile’s fifth tallest skyscraper and stand on a prominent corner site.
Currently, the proposed site is home to a 28-storey tower built in the 1970s, which houses the UK headquarters of Brookfield-owned contractor Multiplex.
This building will be demolished to street level starting early in 2026. Construction of the new tower is scheduled to begin in 2028, and completion is expected by the third quarter of 2030.
Front view of proposed sky scraper designed by RSHP, for London’s Square Mile. Picture: RSHP
The project is set to play a key role in helping the Corporation achieve its aim of delivering an additional 1.2m square meters of office space by 2040, accounting for around seven per cent of the overall goal.
Projects like 55 Bishopsgate have already received approval, and the City of London is anticipated to review an updated application for One Undershaft – set to be the tallest tower in the square mile – later this year.
A spokesperson for Brookfield Properties said on Thursday: “The proposed plans will enable the site to respond to the future needs of the City, while maintaining a focus on community, wellness, and sustainability.
“The plans will significantly enhance and increase the amount of public realm amenity around the site, particularly on the ground floor, and will provide a significant cultural offer in a standalone building, enhanced retail, and greening throughout.
“This will improve connections and pedestrian thoroughfare to the surrounding area and transport hubs, such as Liverpool Street Station.”