JPMorgan Chase UK Leads Spitalfields One Construction Project; £500 Million Tender Launches Next Month

en.Wedoany.com Reported - JPMorgan Chase's asset management business in the UK is leading the construction project for Spitalfields One, a building in the City of London currently occupied by the law firm A&O Shearman (formerly Allen & Overy). A&O Shearman plans to vacate the building by the end of 2025 and relocate to new offices at 1 Broadgate, a British Land project built by Sir Robert McAlpine and designed by AHMM.

The tender for the £500 million Spitalfields construction project will be released next month, with Bovis, Sir Robert McAlpine, Multiplex, and Mace expected to bid. The winning contractor is set to be appointed by the end of summer. McAlpine constructed the original Bishops Square project on the site in 2005 based on a design by Foster + Partners, which has again been appointed to develop the new scheme for the plot. JPMorgan Chase describes the plan as a refurbishment and partial new-build project. The scheme will retain and extend the existing office building, providing 870,000 sq ft of office and retail space, along with 70,000 sq ft of new terraces. Planning permission was granted by Tower Hamlets Council last year. JPMorgan Chase aims to start work immediately after A&O Shearman vacates, with completion targeted for 2029.

Other parties involved in the project include cost consultant T&T Alinea, project manager G&T, structural engineer AKT II, and engineer Arup. Separately, JPMorgan Chase has formally signed a main contract with Mace for the redevelopment of 65 Gresham Street in the City of London. Getjar is undertaking foundation and structural work on site based on a design by Squire & Partners. The completed scheme will be occupied by investment management firm Squarepoint. The interior fit-out architect for the £230 million Gresham Street project is Gensler, with the total project cost estimated at £250 million.

JPMorgan Chase plans to submit a planning application in late spring 2026 for the redevelopment of the 140 Aldersgate site near the Barbican, designed by Sidell Architects. The bank acquired the building from Landsec in summer 2025; Landsec had owned the property since its initial construction in 2005. The planned construction project, valued at approximately £60 million, focuses on refurbishment and new build elements and is designed by Gensler, with an expected completion date of late 2028. Existing tenants are scheduled to vacate in Q1 2026, and the main contractor tender is set to be issued in Q4 2026.

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