City of London approves 31-storey tower at 130 Fenchurch Street

The City of London Corporation has granted unanimous planning approval for a new 31-storey office tower at 130 Fenchurch Street, marking another significant step in the City's commercial development pipeline.

The building, which replaces the current structure known as Fountain House, will deliver over 57,000 square metres of Grade-A office space and is expected to accommodate approximately 3,610 jobs.

Designed with a distinctive staggered form intended to integrate into the surrounding skyline, the development seeks to balance modern commercial needs with respect for nearby heritage landmarks including St Paul’s Cathedral and the Tower of London.

This project is the seventh major office scheme exceeding 50,000 sqm to receive approval in 2025, bringing the year-to-date total to over 300,000 sqm of office space sanctioned by the Corporation. The development supports the City Corporation’s broader goal of delivering at least 1.2 million square metres of new office floorspace by 2040.

Demand for premium office accommodation in the Square Mile remains strong, particularly for energy-efficient and sustainable buildings. Recent figures from Knight Frank highlight that vacancy rates for newly constructed offices have fallen to just 0.5 per cent.

The scheme also includes several public-facing amenities. At ground level, the development will introduce 300 square metres of retail and hospitality space. On the 20th storey, a publicly accessible garden terrace will be open seven days a week, offering elevated views of the City. This aligns with the Corporation’s ongoing strategy to enhance public access to high-rise open spaces, which have collectively attracted over 40 million visitors.

Urban connectivity is also a key feature of the plans. The developers have committed to delivering the first stage of a new pedestrian north-south route that will link Fenchurch Street to Leadenhall Market, Cullum Street, and the Lime Street Estate. This initiative supports the City's wider efforts to improve pedestrian infrastructure and create more navigable, inclusive public spaces.

Demolition of the existing Fountain House is scheduled to begin in 2026, with project completion anticipated by 2030.

Commenting on the decision, Tom Sleigh, Chair of the City of London Corporation’s Planning and Transportation Committee, said: "130 Fenchurch captures our ambition to unlock growth: a striking new workplace in the heart of the City, with routes and views that open up the City for everyone. This is about more than one building — it’s part of a pattern of proactive planning decisions that are helping to shape a future-ready Square Mile."

The approval underscores the City’s strategy of promoting dense, high-quality commercial development while integrating public space and transport enhancements to support long-term economic growth.