AXA Real Estate's plans for the site include the construction of a 170,000 square feet speculative office scheme, which includes a "sky garden" on the 16th floor which "provides one of the most exciting additions to the skyline in the City's tower cluster, alongside the Gherkin and Heron Tower", AXA said.
The scheme has an expected completion date of September 2016, which AXA said would allow the development to capitalise on the Square Mile's general lack of new build office supply. It is also located near to Liverpool Street station, where a new Crossrail terminus is planned to be added in 2017.
“We believe Bevis Marks will provide an exceptional workspace and is being delivered at a time when new build space will be in short supply, further emphasising our ability to source innovative assets which have the potential to create significant value for our clients,” said Harry Badham, AXA Real Estate’s UK director of development.
The project has an expected total development cost of £115m and the development finance for the scheme has been provided by Eurohypo.
Skanska has been awarded the full design and build contract for the scheme, which was designed by Fletcher Priest Architects. The building has also been designed to allow for a broad range of clients on a single or multi-let basis, according to AXA.
The development plans for the building to be 80% more energy efficient than the building it would replace, according to AXA, which would like the building to achieve an 'excellent' rating under the Building Research Establishment Environmental Assessment Method.
