Tower 42 invests £50m to launch London's newest retail quarter
A total of £50m has been invested into the Tower 42 Estate in the City of London, creating 77,000 sq ft of new retail and offices.
Designed by architects Stiff + Trevillion, the new retail and commercial quarter is expected to bring big trading names, lifestyle brands and artwork to the city.
The Avenue is a newly-created pedestrian walkway bordered by retail units. It wraps around the original Tower 42 building, connecting Old Broad Street to Bishopsgate.
The new retail space is also home to a Marks & Spencer food hall, the PAUL restaurant at the base of Tower 42, Vital Ingredient healthy eatery, Ted’s Grooming salon, Windsor Flowers, a gastropub Broadleaf and a PAUL coffee and bakery kiosk.
Philip Lewis, from the Tower 42 Estate, said: “The City is crying out for more quality retail space. The Avenue responds to this and provides the occupiers on the Estate and in the surrounding area with modern amenities.
“There are more than 4,000 people working here on the Estate so the new retail has a ready-made on-site catchment of customers, which is further enhanced by other offices and businesses nearby.”
Tower 42 Estate already has 500,000 sq ft of office, retail and leisure accommodation.
Alongside Tower 42, which provides 320,000 sq ft of offices over 42 upper levels, is 15 Bishopsgate - the estate’s newest Grade A office building. Comprising 56,000 sq ft, the newly opened 15 Bishopsgate was pre-let to WeWork.
Tower 42 was originally opened in the mid-1980s as the NatWest Tower, designed by the British architect Richard Seifert. At 182m, it was Britain’s first skyscraper and measured as the tallest building in London for 30 years.
Over the last two and a half years, the Tower 42 Estate has undertaken a modernisation and expansion programme. The Estate now comprises six buildings, including new and refurbished properties.