JP Morgan embarks on one of City’s largest office revamps

JP Morgan Global Alternatives has lodged proposals to upgrade Bishops Square and Spitalfields Market, EC1. The project is claimed to be one of the largest retention and extension schemes in Europe. The investor plans to retain about 70% of the existing office building and extend it to provide 870,000 sq ft of office and retail space alongside 70,000 sq ft of terraces. The all-electric building will target 51% lower annual emissions, BREEAM Outstanding and EPC A. The scheme, designed by Foster & Partners, is also set to create a new public access route from Bishops Square through to the heart of the market. The office tower is targeted for delivery in 2030. On completion it will be rebranded as One Spitalfields’ Paul Harris, executive director at JP Morgan Asset Management, said: “The quality of the original base build is exceptional, and our sensitive modernisation demonstrates buildings of scale can be repurposed, to provide best-in-class accommodation. We expect the high-quality floorplates, enhanced base build flexibility and 360-degree views to appeal to a wide variety of occupiers seeking new headquarters buildings in the City core.”