Oxford Properties Group, on behalf of a joint venture with Hines, has secured approval for the redevelopment of King Edward Court in London’s Paternoster Square.
LSEG’s new HQ at King Edward Court in Paternoster Square. Credit: Miller Hare
The City of London Corporation has approved plans for the building to be comprehensively refurbished and extended to create a new global headquarters for the London Stock Exchange Group (LSEG).
LSEG signed a long-term lease for the entire property at the end of last year, which will maintain the group’s 300-year-plus presence in the City.
The refurbishment of the 245,000 sq ft building includes reconfiguring the ground floor to make it more open and to allow for visitors to celebrate activities such as LSEG’s market open and close ceremonies.
Tom Sleigh, chairman at the City of London Corporation planning and transportation committee, said: “The transformation of King Edward Court will deliver a world-class headquarters for LSEG, enhance public access at ground level and reinforce Paternoster Square as a vibrant destination at the heart of the Square Mile.
“It reflects the City of London Corporation’s commitment to supporting high-quality, sustainable development that respects the City’s unique heritage while meeting the needs of a modern, global economy.”
Construction is due to commence in early 2027 and completion is expected in early 2029.
Robin Everall, head of development (Europe) at Oxford Properties, said: “This planning consent marks an important milestone in the redevelopment of 10 Paternoster Square into a state-of-the-art global headquarters for one of the City’s most important institutions.
“It supports our long-term conviction in grade-A London offices and demonstrates both our team’s deep sector expertise and ability to deliver high-quality office space in the City.”
The project is targeting BREEAM ‘Excellent’, EPC ‘A’ and NABERS five-star certifications.
Newmark acted as planning consultant to Oxford and Hines.
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