Chapter 11: Project in Pictures
85 Gracechurch Street

Unlocking commercial value through cultural enterprise

In the current climate of London’s squeezed office development market, the winners are those who understand where value can still be unlocked. The discovery of globally significant archaeology under the existing building at 85 Gracechurch Street might have redirected the attention of a less forward-thinking developer elsewhere. However, Hertshten Properties, working with architects at Woods Bagot, turned this potential deal-breaker into a development opportunity.

It was in mid-2024, during the excavation of routine trial pits dug in preparation for the construction of an earlier scheme, that the incredible discoveries were made. While analysis of 1930s desktop records had given the archaeological experts confidence that important Roman buildings had once occupied the site, what was found exceeded all expectations.

A globally significant discovery

Below the existing basement, large masonry structures were uncovered; walls that once formed the foundations of the first Basilica of Londinium – the most important building in Roman London. This Basilica operated as the centre of power and governance, much like the Houses of Parliament today. The remains would have supported the Tribunal, an elevated platform at the eastern end of the Basilica, from which officials would have debated the most important matters of the emerging powerhouse of governance for the northern reaches of the Roman Empire.

Woods Bagot reimagined its original designs of the proposed office tower at 85 Gracechurch Street to celebrate the incredible discoveries. By adding publicly-accessible exhibition spaces, the architect reinforced Hertshten Properties’ longstanding ambition to deliver a building that will become a London destination, with a generous publicly-minded spirit that echoes the social importance and uses that have animated this part of the City of London over several centuries.

Once complete, 85 Gracechurch Street will be a striking mixed-use office tower, offering 25 floors of flexible, best-in-class workspace, with landscaped external terraces offering occupiers stunning views across London. Tenants in the building will enjoy an activated arrival experience through the public hall, well-appointed cycle storage areas and changing facilities, bookable meeting amenities and a rooftop auditorium.

Serving a broad audience

85 Gracechurch Street is an exemplar for how a project with a bold vision and commitment can unlock both commercial and public value. The shared goal of Woods Bagot and Hertshten Properties is to establish a premier workplace building where people are proud to work as well as a world-class public destination. This public-focused mindset is rooted in generosity, with the approach of combining commercial drivers and public benefits setting the project apart from many other commercial office developments.

The building has been designed to appeal to a diverse, broad London community. Rather than only catering to its office population, the building will also be an attraction to tourists and school children from across London’s boroughs. This will help celebrate London’s rich history and rejuvenate the adjacent Grade II-Listed Leadenhall Market.

Public spaces, including the immersive exhibition and glass floor revealing the ancient walls beneath, will create a dialogue between the past and present. Meanwhile, the public viewing deck overlooking the rooftops of Leadenhall Market will enable visitors to connect the contemporary City with the historic stories of the site.

At ground level, a large public hall will offer retail and leisure space, with its architecture drawing inspiration from the Spread Eagle Inn which occupied the site in the 1700s, echoing the hung timber balconies that once overlooked the yard in the coaching station. The public hall will also re-establish a historic pedestrian route to Leadenhall Market.

A building brimming with London character

The architectural character of 85 Gracechurch Street is an exceptionally sensitive response to both the site's rich heritage and future workplace needs. The modern office space is framed in architecture that distils its context, featuring several coordinated themes making up its overall composition.

Woods Bagot’s design incorporates subtle references to the site’s history into its architecture, form and detailing to create a truly unique, contemporary office tower. The building’s distinctive design stems from its proximity to Leadenhall Market and medieval street alignments and is influenced by protected viewing corridors of London’s architectural heritage. Its stepped form is a direct and positive response to these constraints, giving it a cascading silhouette on the skyline.

Woods Bagot’s design incorporates subtle references to the site’s history into its architecture, form and detailing to create a truly unique, contemporary office tower."

Once complete, 85 Gracechurch Street will be a striking mixed-use office tower, offering 25 floors of flexible, best-in-class workspace, with landscaped external terraces offering occupiers stunning views across London.”

The building’s frontage at street level adapts the existing 1930s facade, responding to the scale and character of the street and neighbouring Leadenhall Market. Inspired by architectural elements of the market’s structure, details, rhythms and proportions have all been woven into the contemporary architecture.

Unlocking value through design efficiency

85 Gracechurch Street has been planned against a backdrop of rising construction costs and increased scrutiny of commercial viability. A significant focus on building performance and design efficiency across all building systems was required to ensure the public spaces could be delivered, and economic and social benefits be unlocked.

Floorplate, facade, vertical transport, stair and riser optimisation were all necessary to create the best result for owners, users and the community. Additionally, two floors of the tower were removed from the approved planning permission design during later stages of the design development process to create optimal efficiency.

Realising sustainability through longevity

The most sustainable decision on the project was the drive for longevity. Hertshten Properties and Woods Bagot both wanted to ensure that the building becomes part of the heart and minds of Londoners and remains relevant and valuable for generations to come.

85 Gracechurch Street is currently on track to achieve several best-in-class certifications, including a NABERS 5-star rating, WELL V2 Core Gold Certification and an EPC A rating. The project is also on track for BREEAM ‘Excellent’ accreditation, with aspirations to move up to the ‘Outstanding’ level.

A balanced approach was taken between embodied carbon and construction efficiency, with the design team having to address several technical challenges. Operational carbon has been lowered by reducing extents of facade glazing, utilising high levels of insulation and using fully electric mechanical, electrical and plumbing systems.

Going far beyond standard greening targets

The building will be one of the greenest towers in the City of London, with substantial planting on the level 30 roof terrace and further planting and trees on office terraces on every other floor. This will exceed the Greater London Authority’s Urban Greening Factor target for major commercial developments of 0.30 by 10%, boosting biodiversity and creating a distinctive appearance on the skyline. Woods Bagot believes that distinguishing the building from other City towers will further highlight 85 Gracechurch Street and the public spaces it incorporates.

Demolition is set to begin on site in the first quarter of 2026, with most enabling works expected to be finished by 2027. Construction of 85 Gracechurch Street is planned to start later that year and is aiming for completion in 2030.

www.woodsbagot.com

Project Team

Developer: Hertshten Properties
Architect: Woods Bagot
Principal contractor: Mace
Strategic advisor: Shaw Corporation
Project manager and cost consultant: Gardiner & Theobald
Fire engineers: Arup
Mechanical and electrical consultant: Sweco
Planning consultant: DP9
Structures and geotechnics: Robert Bird Group