View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
March 25, 2019

Construction work begins on 50-storey tower in London

Developer Mitsubishi Estate London, construction manager Lendlease and development manager Stanhope have broken ground on the 50-storey tower development at 8 Bishopsgate in the City of London.

Developer Mitsubishi Estate London, construction manager Lendlease and development manager Stanhope have broken ground on the 50-storey tower development at 8 Bishopsgate in the City of London.

Free Report
img

Internet of Things set to transform the construction industry

The Internet of Things (IoT) is proving hugely beneficial to the construction industry, allowing different assets and people to be monitored and accounted for across a traditionally fragmented industry. As a result, companies that invest in IoT now promise to make long-term gains in the industry. According to GlobalData forecasts, spending on IoT in construction will reach $9.6bn by 2025. For an industry that has large sites to manage, strict project timelines, hazardous working conditions, and tight profit margins, IoT can create a manageable view of construction sites for project managers, streamline operations, and protect workers. In addition, it allows real-time data streams of assets, automates time-consuming tasks, and ensures employee safety and productivity. IoT integration with equipment manufacturing also has rich advantages for asset monitoring sensors. This, combined with artificial intelligence (AI) can help forecast materials and workers needed during the procurement stage and assist in forecast financing. Read GlobalData’s whitepaper to find out more, including information on:
  • IoT value chain
  • Market size and growth forecasts
  • Mergers and acquisitions
  • Leading IoT adopters in construction
  • Specialist IoT vendors in construction
Don’t get left behind – find out how IoT can fortify your operations and make investments now.
by GlobalData
Enter your details here to receive your free Report.

Last autumn, the City of London Corporation gave approval to the revised tower plan. Since the revised plans, site clearance work has been underway.

The site will feature 560,000ft² of prime office space, retail units on the ground floor and a public viewing gallery at its summit.

Construction work on the £300m project is slated to complete in late 2022.

“The ground-breaking underlines our ongoing confidence in the City of London’s position at the forefront of international commerce.”

Mitsubishi Estate London CEO and managing director Yuichiro Shioda said: This long-term project is a key strategic investment for Mitsubishi Estate London, and the ground-breaking underlines our ongoing confidence in the City of London’s position at the forefront of international commerce.

“The tower will be a landmark scheme for the Square Mile, and we anticipate significant interest from occupiers attracted by the development’s unrivalled location, distinctive design and high-quality space.”

Stanhope chief executive David Camp said: “We are delighted to be continuing our partnership with Mitsubishi Estate on this striking landmark building for London. 8 Bishopsgate will deliver the next generation of office building that will improve occupier experience and attract high-quality occupiers from within and outside of the City of London.”

For the project, Alinea is the cost consultant, Arup is the structural and MEP engineer, WilkinsonEyre is the architect, Gerald Eve is planning adviser.

Related Companies

Free Report
img

Internet of Things set to transform the construction industry

The Internet of Things (IoT) is proving hugely beneficial to the construction industry, allowing different assets and people to be monitored and accounted for across a traditionally fragmented industry. As a result, companies that invest in IoT now promise to make long-term gains in the industry. According to GlobalData forecasts, spending on IoT in construction will reach $9.6bn by 2025. For an industry that has large sites to manage, strict project timelines, hazardous working conditions, and tight profit margins, IoT can create a manageable view of construction sites for project managers, streamline operations, and protect workers. In addition, it allows real-time data streams of assets, automates time-consuming tasks, and ensures employee safety and productivity. IoT integration with equipment manufacturing also has rich advantages for asset monitoring sensors. This, combined with artificial intelligence (AI) can help forecast materials and workers needed during the procurement stage and assist in forecast financing. Read GlobalData’s whitepaper to find out more, including information on:
  • IoT value chain
  • Market size and growth forecasts
  • Mergers and acquisitions
  • Leading IoT adopters in construction
  • Specialist IoT vendors in construction
Don’t get left behind – find out how IoT can fortify your operations and make investments now.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Design Build Network