Banking giant bought 140 Aldersgate building last summer from Landsec

140 aldersgate

1409 Aldersgate was built in 2005

JP Morgan is set to submit plans designed by Gensler in the next few weeks for a redevelopment of a site near the Barbican called 140 Aldersgate.

The firm bought the building from Landsec last summer with the latter having owned it since 2005 when it was first built.

Building Design understands the banking giant’s asset management business will lodge planning documents with the City of London in April with a committee hearing set for the late summer.

The value of the work planned, which centres on refurbishment along with new build, is believed to be around £60m. The job is likely to finish towards the end of 2028 with existing tenants due to move out in the first quarter of next year.

The original building was designed by Sidell Architects.

Meanwhile, tenders for JP Morgan’s £500m redevelopment of One Spitalfields are still on track to be out by early summer

Law firm A&O Shearman, formerly Allen & Overy, is due to move out of the building, currently known as 1-10 Bishops Square, at the end of this year and into new offices at 1 Broadgate, the British Land scheme built by Sir Robert McAlpine and designed by AHMM.

JP Morgan is billing the scheme as a refurbishment with some new build and under original architect Foster & Partners’ latest plans, the job will retain and extend the current office building to provide 870,000sq ft of office and retail space, along with 70,000sq ft of new terracing.

The firm has already sounded out McAlpine, Mace, Bovis and Multiplex about the job with a winner due by late summer.

Others working on the job, which is due to complete in 2029, include cost consultant T&T Alinea, project manager G&T, structural engineer AKT II and engineer Arup.

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