Practice says it has taken more space at existing office to accommodate increased staff numbers

Undershaft 2024 1

Eric Parry has redesigned 1 Undershaft, which went in for planning earlier this year

The architect behind plans for the tallest building in the City at 1 Undershaft, the just started 50 Fenchurch Street tower and the ongoing Salisbury Square redevelopment off Fleet Street saw revenue and profit rebound last year.

Turnover at Eric Parry Architects went up by half to £12.4m in the year to July 2023 while pre-tax profit climbed from £358,000 to £2.5m during the same period.

In a note accompanying the accounts, the firm said: “Our workload forecast for the coming years is strong. We are expecting a period of growth in the coming financial year [to July 2024].”

It attributed its booming revenue directly to its projects at 1 Undershaft, 50 Fenchurch, being built by Multiplex, and Salisbury Square which is being carried out by Mace.

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In the accounts, signed off last week, the practice said it had made a “substantial” investment in IT equipment and office furniture during the year to accommodate a workforce which grew nearly 20% to 89 people.

It added that it was taking more floor space at its address in the City of London to accommodate its expanding team.

The firm said cash and cash equivalents at the year-end amounted to £3.9m, up from £878,000 last time.