Slaughter and May is advising The Clothworkers’ Company on the redevelopment of the Clothworkers’ Hall island site at 50 Fenchurch Street. AXA IM Alts will acquire a long leasehold interest and has planning consent to build a major 36-storey office building on part of the site. 50 Fenchurch Street is expected to be one of the most sustainable developments in the City. As well as targeting BREAAM outstanding and net zero in operation, the building will include a living “green wall” to help mitigate air and noise pollution and improve biodiversity. The remainder of the development will include a large new public realm area and a new Clothworkers’ Hall for the livery company.
Jocelyn Stuart-Grumbar, Clerk to the Clothworkers’ Company and CEO of The Clothworkers’ Foundation: “We are excited to move forward with this ambitious project. When complete, it will be part of a new generation of buildings upholding environmentally-aware standards, provide state-of-the-art office facilities, and help improve the built environment and public space for people living and working in the Square Mile. But for us, it’s not just an exciting new building development; it is part of our long-term strategy for investing in the future of The Clothworkers’ Company and The Clothworkers’ Foundation. This scheme offers us the opportunity to unlock our assets and increase our charitable impact as we help our communities rebuild from the pandemic and secure our philanthropic legacy for the next 500 years.”