DEVELOPMENT PROJECTS:
70 ST MARY AXE, LONDON
Targetfollow have received planning approval for a new London landmark office building. The 90 metre glass and steel tower, designed by architects Foggo Associates, will be developed at 60-70 St Mary Axe in the heart of the City of London. Targetfollow, the developer, is delighted to confirm that the City Corporation have supported the development proposals with a resolution to grant planning approval.
The stunning new development with its distinctive semi - elliptical shape, will add to the views of the City Skyline and is within close proximity to the Gherkin and adjacent to the Heron Tower development. This unrivalled city address is rapidly becoming a pocket for high quality office properties in the foothills of the emerging “Eastern Cluster” of major city towers.
Julian Wells, Development Director at Targetfollow, commented that; "The design is spectacular and highly distinctive - we think our proposals will greatly add to the City skyscape. This will be a new landmark building which sits comfortably within the major tower cluster that is starting to take shape in this part of the City of London.
We are very excited about this development particularly with its use of low carbon solutions and harnessing of solar and thermal energy. The design will maximise good natural light and will also make a contribution to improved public realm around the new building.”
The new 24 storey building will offer top quality office accommodation together with ground floor retail space. The layout and size of the office floor plates have been carefully considered to provide appropriate space either for multi-let use or as a corporate headquarters for a single occupier. The building has flexible floor plates ranging from 5,000 to 17,000 sq ft and totalling 300,000 sq ft net area.
The new building has been sensitively designed to preserve sightlines of the Tower of London resulting in a maximum height limit of 90 metres. The form is based upon an elliptical arch which not only reduces the mass of the building on the skyline but also allows for the lower levels to reduce inwards. This enables an improved public realm to the base of the building and the introduction of new trees along both Houndsditch and Bevis Marks.
The vertical blades wrapping the curved facades of the building enhance the form of the design architecturally and in addition will ensure good natural light penetration to the office floors while minimising solar gain. When this external feature is combined with the technology of photovoltaic panels, thermal energy piles and boreholes (BTES) the scheme will deliver an impressive low carbon solution and will achieve BREEAM excellence.
The next phase of the project will be to finalise working relationships with landowners, secure financing for the development and satisfy the planning conditions and S106 discussions. The actual start of the development work will be subject to concluding these matters and to an improving city office market.
Andy Lowe of DTZ, Development and Agency consultants for the project, commented in relation to concerns about the credit crunch; “The start of the next development cycle may be two or three years away but the quality of this scheme will ensure that it stays ahead of the competition.”
The building already has the nickname of “the Can of Ham”. Julian Wells commented; “I think we’re quite enjoying it – these new buildings are often given a nickname and it shows that the design has already captured the public’s imagination.”
Targetfollow own the freehold of 70 St Mary Axe and have received full support to the proposal from the neighbouring owners of 60 St Mary Axe.