The City of London Corporation has granted planning permission for a venture between Hobart Partners and PineBridge Benson Elliot, to develop ‘The Mark’, a new build sustainable, modern office in the City of London.

Comprising 215,000 sqft of much needed new office space, alongside 14,000 sqft of cultural, food & beverage and retail space, ‘The Mark’ is being developed on 47 & 50 Mark Lane. It represents a distinct part of the City of London which commands views over some of the City’s best-known landmarks and most valued heritage assets, from terraces and balconies located at every level.

The Mark incorporates a digitally immersive exhibition hall that will provide educational heritage and cultural space for use by the community, schools, public, building occupants and local businesses. To the front of the hall will be a café and tourist touchdown space, all adding to the London’s Destination City offering.

The development is due to start in early 2024 and will be completed in late 2026.

Designed by Danish Architect 3XN, the new building will provide a modern, occupant focused environment, achieving the highest recognised environmental standards. This is in keeping with the City Corporation’s drive to increase the inward flow of green investment from developers, so as to achieve a Net Zero Square Mile by 2040. It will also replace an unsightly existing building with a more contextual façade in a sensitive heritage setting near the Tower of London World Heritage Site.

Elsewhere, a smaller refurbishment scheme granted planning approval on Giltspur Street will require the developers to create easier public access to a section of the Roman wall on the approach to the new Museum of London.

Shravan Joshi, Chairman of the Planning and Transportation Committee at the City of London Corporation, said:

“We need a sustainable built environment that meets the growing demand for low environmental impact, but also for spaces that people want to spend their leisure time in. So, I’m pleased to see that developers are aligned with these goals. 

“The Square Mile has a uniquely diverse setting, with beautiful heritage assets right next to impressive skyscrapers, alongside medieval churches, livery halls, new restaurants, bars and clubs, as well as residential homes across several estates. We will continue to enhance this offering as part of our ‘Destination City’ policy and deliver a visitor destination for everyone to enjoy.”