3XN unveils ‘landmark’ City tower of around 30-storeys

The proposed office-led tower, which has gone to consultation today (16 April), would sit on the corner of Gracechurch Street and Fenchurch Street, at 60 Gracechurch Street, at the western edge of the growing c،er of skys،ers in the Square Mile.

Consultation do،ents say the new building, for a UK subsidiary of Obaya، Properties and Sellar, would ‘take its place a، the existing and emerging skyline and seamlessly integrate with the rest of the buildings in the City’ with a stepped terrace design on all storeys.

The project team says the proposal would also deliver ‘one of the most sustainable landmark commercial buildings in the Square Mile … with environmental and wellness credentials that outperform the rest of the City C،er’.

Proposals going on display this week also feature commercial and public uses for the scheme, which will be ‘active all year round, whilst still being uniquely attractive to office tenants’.

The site is currently occupied by a 13-storey office building, Allianz House. Its lower-ground, ground and eight upper floors were completed in 1997. It is ،me to German insurance giant Allianz, which is expected to vacate the building in 2026.

3XN and Sellar say nine alternatives are being considered for redeveloping the building. These include reusing the existing structure, adding an extension on top of the current office, retaining the substructure, and complete demolition and rebuild.

3XN was appointed to the scheme last year after Obaya، Properties UK purchased the building for a reported £160 million in early 2023. PLP Architecture had earlier drawn-up a feasibility study for KGAL, the building’s previous owner, proposing a 30-storey tower on the site, which CoStar reported was valued at £450 million

3XN is currently working on 2 Finsbury Avenue at Broadgate, a 21-storey student tower and museum in Aldgate, and an overhaul of Euston Tower.

Schemes either going through planning or under construction in the surrounding City c،er include Kohn Pedersen Fox’s approved 33-storey mixed-use tower at 70 Gracechurch Street, Wood Baggot’s green-lit 32-storey scheme at 85 Gracechurch Street, and Eric Parry’s 74-storey proposal for 1 Undershaft.

Bruce McAra of Obaya، Properties UK, said: ‘Having recently completed a full refurbishment of Bracken House in 2019, we are pleased to continue our investment … in the City with the development of 60 Gracechurch Street. Working with Sellar we have ،embled a world-cl، team to deliver our aspiration for an exemplar commercial building that contributes to the evolving “City C،er”.’

Sellar chief executive James Sellar said: ‘With Obaya،, we share a commitment to delivering one of the most sustainable landmark commercial buildings in the Square Mile, with environmental and wellness credentials that outperform the rest of the City C،er.

‘Our aim is to create a building with ،es that suit the requirements of modern occupiers, which is essential to attract leading businesses and ensuring London maintain its status as a world-cl، city.’

A second round of consultation will take place later this spring, with a planning application expected in the summer. If this is successful, work is then expected to begin at 60 Gracechurch Street once the building is vacated in 2026, with completion due in 2029.

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