Tenacity International Gets Nod

Tenacity International Gets Nod To Build Another Office Tower In London

UNITED KINGDOM – After the government granted approval to Tenacity International Group to build a 30-storey office tower next to the iconic Walkie Talkie skyscraper on 27 January, the Hong Kong-based developer has again secured permission to construct a separate 34-storey building within the vicinity, reported Bloomberg on Tuesday evening (16 February, SGT).

Located within the City of London along 70 Gracechurch Street, the same street where the other office tower will be built, the latest development is expected to accommodate over 4,000 workers as it will have approximately 72,000 sq m (775,000 sq ft) of office space, based on submitted documents. In comparison, the other building will have 34,000 sq m (366,000 sq ft) of office premises.

Apart from having double the amount of office space, the 34-storey office tower will come with a public viewing gallery on 29th and 30th floor, plus food and beverage (F&B) outlets.

Moreover, the latest building is just adjacent to the 30-storey tower that the developer obtained permission last month. The 2 approvals show that the developer is bullish on the outlook of London’s office property market.

“Last month I spoke to you all about my confidence in the City and in the future of the office,” said Tenacity International’s CEO Patrick Wong in an online video conference.

“I can think of no better demonstration of that commitment than the fact that we are back at the very next committee discussing the vision for our second development in the City.”

Furthermore, the upcoming structures are among the biggest new office towers proposed in post-Brexit London, at a time when the COVID-19 pandemic has compelled most employees to work from home, and a much virulent strain of the dreaded disease is rampaging in the country and across the world.

Unlike Hong Kong’s Tenacity International, other developers have adopted a cautious stance on new developments since the onset of the pandemic, as builders are assessing the economic impact and long-term effects on the demand for commercial space. Nevertheless, there’s still demand for brand new office space, especially the best of its kind.

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