Turnover also down by 14% despite progress on crop of major London schemes

Undershaft Oct 10

1 Undershaft was approved last year

Profit at Eric Parry Architects plunged by more than two thirds last year despite progress on a string of major projects including four schemes in the City of London.

Turnover at the practice behind 1 Undershaft, the City’s tallest tower, also fell by 14% in the 12 months to 31 July 2025, from £14.7m to £12.7m, according to the firm’s latest accounts posted on Companies House yesterday.

Pre-tax profit slumped from £1.4m in 2024 to £460,000, a decline of 67%, during the year while its fees per architect fell to £144,000 from £173,000 the year before.

The accounting period saw continuing work on Salisbury Square Development for the City of London, 1 Liverpool Street for Aviva Investors and Transport for London, 50 Fenchurch Street by AXA IM Alts and YardNine and 1 Undershaft for Aroland Holdings and Stanhope.

While its turnover in the UK fell from £14m to £11.6m, its income from Asia, the firm’s only other region listed in its accounts, rose from  £771,000 to £1.1m.

Its average number of employees during the year rose from 109 to 116.

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