AXA Investment Managers - Real Assets (“AXA IM - Real Assets”), the leading real estate portfolio and asset manager in Europe, announces that, on behalf of a consortium of international investors, it will continue construction of 22 Bishopsgate (“22”) in the City of London.
The commitment to 22 demonstrates AXA IM - Real Assets’ and the consortium of international investors’ confidence in how appealing this highly progressive c.128,000m² development will be to all types of international and domestic occupiers. This confidence is based on the unique and broad range of amenities and types of space that 22 will offer, as well as its prime location in the City of London, as one of the leading global centres for international business, notwithstanding the current uncertainties created by the EU Referendum.
AXA IM - Real Assets, together with its development partner Lipton Rogers, expect to finalise the appointment of a contractor for the main build of the tower within the next few weeks, with work due to commence thereafter. Significant preparatory works have already been undertaken on the site, including substantially completing the foundations and ground works, which utilised those from the previous unfinished development, to allow for an accelerated construction timetable, with a target completion date of 2019.
On completion, 22 will be a new model and standard for workplace design and management, with the objective of meeting emerging occupier needs for greater space, adaptability, productivity and employee satisfaction. The building, designed to appeal to a broad range of occupiers, will offer extensive amenities and spaces for meeting as well as shared work environments, including an innovation centre that will support progressive new City businesses. A wide range of services, new technologies and events will serve the community of over 12,000 people working within 22.
Plans include dedicated areas for leisure, health and wellbeing. In line with AXA IM - Real Assets’ ambition to be a globally sustainable business, notably by targeting 75% of total direct property under management to be certified with reputable sustainability labels by 2030, 22 is the first UK building to apply for the Delos WELL Building Standard. This certification recognises the impact that buildings have on the health of their occupiers.
