Brookfield’s 99 Bishopsgate plans approved
The City of London Corporation’s planning sub-committee approved Brookfield Properties’ plans to redevelop the 28-storey tower at 99 Bishopsgate, EC2.
The plans will deliver 1m sq ft of office space in response to increasing demand for office space in the City, where availability in newly constructed offices is at just 0.5% according to Knight Frank.
Shravan Joshi, chair of the City of London Corporation’s Planning and Transportation Committee, said: “A much-needed office development has been approved in the City of London and it speaks to the confidence that global investors have in the local real estate market, as well as the UK economy, more widely.”
The City of London Corporation’s planning sub-committee approved Brookfield Properties’ plans to redevelop the 28-storey tower at 99 Bishopsgate, EC2.
The plans will deliver 1m sq ft of office space in response to increasing demand for office space in the City, where availability in newly constructed offices is at just 0.5% according to Knight Frank.
Shravan Joshi, chair of the City of London Corporation’s Planning and Transportation Committee, said: “A much-needed office development has been approved in the City of London and it speaks to the confidence that global investors have in the local real estate market, as well as the UK economy, more widely.”
He added: “The 99 Bishopsgate scheme will also give the Square Mile one of the largest public realm upgrades from a single planning application, in recent history, increasing the ‘walkability’ of the City, so that it becomes a safer and more pleasant place to travel through.”
The development will provide a 26,000 sq ft new pavilion space, planned to be occupied by charitable company Intermission Youth, as well as a public realm improvements and 13,500 sq ft of retail space.
Brookfield owns the tower in a joint venture with China Life Insurance Company and WPMA, a private Canadian property company. It is home to companies such as Chinese tech company Huawei, law firm Latham & Watkins and contractor Multiplex, but is due to be vacant by the end of 2026.
