Media & Insights

Landsec secures planning permission for latest office-led development, 55 Old Broad Street

21 November 2023

Landsec’s plans to transform 55 Old Broad Street, EC2 into a modern, sustainable workspace have been approved by the City of London Corporation. 55 Old Broad Street will deliver best-in-class office space into a supply-constrained market.

The redevelopment of 55 Old Broad Street is a response to market demand for new, sustainable workplaces that are well connected to transport links and in vibrant locations with great local amenities. The project will create a new, mixed-use building which combines 270,000 sq ft of high-quality office space with 15,000 sq ft of retail, F&B and cultural space, including new meanwhile artist studios.

55 Old Broad Street will be net zero in both construction and operation. The plans have retained as much of the existing structure as possible, with many of the recovered materials re-used. The all electric building will be powered by air source heat pumps and run solely on renewable electricity to help businesses to meet their ESG targets.

Located adjacent to Liverpool Street station, one of London’s busiest rail and underground hubs, 55 Old Broad Street is surrounded by a variety of local amenities. Two new cultural venues at 65 Old Broad Street and the listed Victorian Bath House will bring new cultural experiences to people living and working in the city.

Oliver Knight, Head of Workplace at Landsec, said: “Demand for modern, sustainable workspace designed with wellbeing in mind is growing and there will be a significant constraint on supply over the coming years as other developers pause projects.

“Alongside modern offices, retail space and greatly improved public realm around the building, this scheme has the opportunity to become a 7-day a week destination – generating long-term value for the City, creating a place where people want to come together to work, create and spend time.”

Today’s news follows Landsec’s recent half year results, where it was announced that Central London occupancy had risen 60bps to 96.5%.

55 Old Broad Street was designed by Fletcher Priest Architects. Savills and Squarebrook are leasing agents for Landsec on the development.