Plans for 59,000 m² of high-spec workspace with gardens on every floor and new public park set to transform the City of London
AXA IM Alts, the alternative investment platform of AXA Investment Managers, has secured a resolution to grant consent for the development of 63 St Mary Axe, a 46-storey next-generation office tower designed by Fletcher Priest Architects. The new scheme will deliver approximately 59,000 m² of Grade A workspace, integrated with biophilic design, extensive landscaping and cultural programming in the heart of London’s financial district.
The announcement strengthens AXA IM Alts’ ongoing commitment to future-proofing London’s commercial real estate, following the success of 22 Bishopsgate and ongoing construction at 50 Fenchurch Street. The development will significantly contribute to the City of London’s goal of delivering 1.2 million m² of new office space by 2040, addressing increasing demand for ESG-aligned, wellness-focused workplaces.
A defining feature of the scheme is the creation of Camomile Park, a new green space running the full length of the site, which will uncover and showcase a forgotten stretch of London’s Roman wall. The park is designed to support the City’s London Wall Corridor vision, including traffic calming, wider footpaths and a dedicated cycle lane. In addition, the building’s 36 floors of office space will provide direct access to gardens and fresh air at every level, offering panoramic views and encouraging healthier, more productive work environments.
For developers and institutional investors, the project signals more than just prime real estate. The building is planned as fully electric and fossil fuel-free, aiming for BREEAM Outstanding, NABERS 5 Star, and net-zero in operation, setting a benchmark for high-rise sustainability in the UK market. With tenant expectations evolving post-Covid, buildings that can demonstrate these credentials are commanding premium rents and longer lease commitments.
The plans also respond to growing community and cultural expectations. A flexible multi-purpose ground-floor space with rehearsal rooms above will be made available to local groups, echoing the rising trend of embedding social impact and cultural value into commercial property development.
“This resolution is a strong endorsement of our proposals and builds on AXA IM Alts’ track record of delivering future-focused, landmark office developments that create lasting value for both occupiers and the wider community. New buildings such as 63 St Mary Axe and 50 Fenchurch Street are essential to the capital maintaining its position as a world-leading centre of business,” said Rob Samuel, UK Head of Development at AXA IM Alts.
People mentioned:
Rob Samuel – UK Head of Development, AXA IM Alts
Companies mentioned:
AXA IM Alts – Developer and investor
AXA Investment Managers – Parent company
Fletcher Priest Architects – Architects
City of London Corporation – Planning authority
Image Render: AXA IM Alts
Get the latest commercial real estate news, investment insights, and property trends from Europe Real Estate, trusted by professionals since 1999.
Sign up for free daily or weekly updates. Join here
