George Iacobescu, the developer behind Canary Wharf, is overseeing plans for a new 70-storey skyscraper in the City of London. The proposed 300-metre-high tower would replace Exchequer Court near the Gherkin, providing 1 million sq ft of office space. Owned by New York-based insurer Am Trust Financial Services, the project aims to address London’s shortage of premium office space, which Knight Frank predicts will be fully leased by 2028.
The building would be one of London’s tallest, comparable in scale to the forthcoming One London tower. Public consultation begins this month, with a planning application expected early next year. Iacobescu, who previously transformed Canary Wharf from a wasteland into a financial hub, is driving the initiative.
Am Trust hopes to complete the tower by 2033, designating 3,500 sq metres for public use, including a ground-floor courtyard and elevated gardens. The project aligns with the City of London Corporation’s City Plan 2040, which targets 1.2 million sq metres of new office space. Despite rising interest rates and construction costs, Cooperberg emphasized the tower’s prime location and high demand.
The design is in early stages, but the development represents a long-term commitment to London’s evolving skyline.
Source: Financial Times Companies · Summarized by HeadlinesBriefing