St Martins unveils redevelopment plans for 5 Cheapside
St Martins, the international property company, has submitted a planning
application to the City of London for the redevelopment of 5 Cheapside,
EC2.
Designed by the award winning architect John McAslan & Partners the
scheme, which is located at the western end of Cheapside adjacent to St.
Paul’s Cathedral, will compromise c.87,000 sq ft of offices on six
floors with c.20,000 sq ft of retail at ground and lower ground levels.
The development majors in sustainability and the design of the building
sympathetically takes into account a range of planning considerations
in order to enhance and preserve views to St. Paul’s Cathedral. A
significant feature is the 16m cantilever of the offices at the north
end of the building, which extends over the entrance to St. Paul’s
underground station. The development incorporates a highly sustainable
design to achieve an ‘Excellent’ BREEAM rating, and includes
features such as: a fully integrated solar shading façade, ground
source heat pumps and chilled beams.
Lindsey Robinson, Development Director at St. Martins, commented: “5
Cheapside’s civic site is hugely important and, as a result, has
generated a great deal of interest. Bounded by the traditional buildings
of St. Paul’s and the Paternoster Square complex plus the current
generation of 150 Cheapside and One New Change, we feel it is important
that 5 Cheapside should create the next generation of building in the
City while complementing the existing architecture.
We believe 5 Cheapside will be regarded as an iconic building – at
the very least we are confident that it will be considered an excellent
commercial response to a sensitive development site.”
The planning consultants on the scheme are DP9.
5 Cheapside London
architects : John McAslan & Partners
London Architects
London Architecture
Site History – 5 Cheapside
The existing building at 5 Cheapside was granted planning consent in 1963
but construction did not start until 1968. The wider area, known as Paternoster
Square, which provides the main context for the redevelopment of 5 Cheapside,
has been the subject of a number of proposals, Sir William Whitfield’s
masterplan ultimately being approved by the Corporation in 1999.
Although outside the planning application site, the masterplan acknowledged
the redevelopment potential of 5 Cheapside. Planning permission for the
redevelopment of Paternoster Square was approved by the Corporation in
respect of an application that excluded the 5 Cheapside site. The current
proposal is considered to be in keeping with the principles of the original
Whitfield masterplan.
About St Martins Property
St Martins is a leading development, investment and asset management company
with a diverse portfolio throughout the UK, Europe and Australia.
Based in Hay’s Galleria, near London Bridge, the company is actively
seeking high quality investment and development opportunities globally.
St Martins has a portfolio valued at around £3 billion.
The company’s assets include the prestigious London Bridge City development
on the banks of the River Thames, containing over 93,000 sq m of office,
retail, leisure and residential accommodation. In 2007, St Martins acquired
the Cevahir retail and entertainment centre in Istanbul, one of the largest
shopping centres in Europe.
St Martins has significant holdings in the City of London and is currently
developing a 19,000 sq m landmark office building at 150 Cheapside which
has an 'Excellent' BREEAM rating and is due for completion in summer 2008.
The City of London portfolio also includes 2 Gresham Street and 16 St.
Martin’s le Grand.
5 Cheapside London
context : Paternoster Square
Paternoster
Square redevelopment masterplan : Sir William Whitfield
Cheapside building info / image from John McAslan & Partners 070308
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