The company behind a huge new skyscraper in Bishopsgate have announced that construction of the City’s tallest building will continue, despite the vote to leave the European Union.
AXA Investment Managers Real Assets’ CEO Pierre Vaquier said back in June that the project would be reviewed after the EU referendum but the company announced last week that the 22 Bishopsgate project will continue.
Labelled simply as “22”, the finished building will be 62 storeys tall and rise to a height of 278 metres, over 4o metres tall than the Heron tower at 110 Bishopsgate. It is expected that up to 12,000 people will be working inside the landmark tower.
22 will be built at the site of aborted Pinnacle development, also known as the Helter Skelter. AXA IM Real Assets, acting on behalf of a consortium of investors, said in a press release that, together with development partner Lipton Rogers, they expect to finalise the appointment of a main contractor within weeks.
Pierre Vaquier, CEO of AXA IM – Real Assets, commented: “Our ongoing commitment to 22 Bishopsgate reflects our firm belief, and that of our clients and partners, in this development project, aligned to the fact we are taking a long term view of this investment. The decision to proceed underscores our confidence in the progressive and attractive development that we will deliver at 22, coupled with the anticipated breadth of demand from local and global occupiers for easily accessible space in a prime location in the City of London, as one of the leading global centres for international business, that will respond to their future business needs.”
22 Bishopsgate is expected to be completed by 2019.