The London Stock Exchange Group (LSEG) is set to embark on a refurbishment of its headquarters, aiming to create a „revitalized and fit-for-purpose international headquarters.“
Located at King Edward Court in Paternoster Square, this site has served as the LSEG’s base for over two decades. The long leaseholders of the building, real estate investors Oxford Properties and Hines, have submitted an official application for the refurbishment to the City of London Corporation.
The LSEG’s lease was originally scheduled to expire in September 2028; however, a new long-term agreement was finalized at the end of the previous year. A representative from the LSEG stated that the renovation will „create outstanding facilities for our people and our customers“ in the City.
Refurbishment Plans and Objectives
Designed by Eric Parry Architects, King Edward Court was completed in the early 2000s, shortly before the LSEG moved in. The refurbishment plans include:
- A new office lobby on the ground floor
- Three upper-level extensions to accommodate additional office space
- Landscaping for balconies and rooftops
A key goal of the refurbishment is to enhance the visibility of the work conducted at the LSEG. The ground floor will be transformed into a more open area, allowing visitors to participate in events such as the London Stock Exchange’s opening and closing ceremonies. Additionally, the Exchange’s Foundation Stone, dating back to 1801, will be permanently displayed.
According to planning documents, a primary objective is to shift from the current „discreet and private market activity“ to a more public-facing space that celebrates the vital role of the City in market activities for the past 300 years. This transformation is expected to have a significant impact on the local community as the south London food hall prepares for demolition.
Concerns and Approval Process
During the consultation process, concerns were raised regarding the potential impact on the nearby St Paul’s Cathedral if the refurbishment were to proceed. Oliver Caroe, the surveyor responsible for the cathedral’s fabric, expressed worries about the „adverse heritage impact“ that could arise from the proposed fifth-floor rooftop extension.
Historic England also advised that if the City Corporation decided to approve the plans, it must ensure that the proposal minimizes any harm to the significance of St Paul’s Cathedral and that any residual harm is justified.
Last week, corporation officers approved the plans, with a confirmation letter dated February 6 included in the authority’s planning portal. An LSEG spokesperson expressed satisfaction with the City of London Corporation’s decision, stating, „We are delighted that the City of London Corporation has approved plans for the modernization of our Paternoster Square office. The refurbishment works will create outstanding facilities for our people and our customers in the heart of the City.“
Robin Everall, head of development (Europe) at Oxford Properties, remarked, „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.“ Work is anticipated to commence in 2027, with completion expected in early 2029. Additionally, there are plans for 220 new homes as part of the South London Leisure Centre construction set for 2026.
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Bildquelle: Foto von Jean-Luc Benazet auf Unsplash
