The home of the London Stock Exchange Group (LSEG) is to undergo a refurbishment in a bid to “deliver a revitalised and fit for purpose international headquarters”.
King Edward Court, on Paternoster Square just north of St Paul’s Cathedral in the Square Mile, has been the group’s base for over 20 years.
Real estate investors Oxford Properties and Hines are the long leaseholders of the building with the former officially applying to the City of London Corporation for the refurbishment.
The LSEG’s own lease was due to end in September 2028 though a new long-term deal was signed at the end of last year. A spokesperson for the group said the works “will create outstanding facilities for our people and our customers” in the City.
King Edward Court was designed by leading firm Eric Parry Architects with construction completed in the early 2000s.
The LSEG, which owns the London Stock Exchange and provides a range of financial markets data, moved in shortly after.
The plans include a new office lobby at the ground floor, three extensions at upper levels to provide more offices, and landscaping to balconies and roofs.
Key to the refurbishment is to better promote the work undertaken at the LSEG. The ground floor is to be altered to become a more open space, allowing visitors to join activities such as the London Stock Exchange’s open and close ceremonies.
The Exchange’s Foundation Stone from 1801 is also to be on permanent display.
As one of the planning documents states: “A principal objective of the brief is to transform the discreet and private market activity, which is currently hidden from view, into a public facing celebration of the beating heart of the City; one which has been the cornerstone of market activity in the City for 300 years.”
Some concerns were raised during consultation about the impact on St Paul’s Cathedral if the scheme were to be approved.
Oliver Caroe, Surveyor to the Fabric of St Paul’s Cathedral, warned of “a degree of adverse heritage impact arising from the presence of the fifth floor rooftop extension as appreciable on approach”.
Historic England also suggested that, if the Corporation opted to grant approval, it “must be satisfied that the proposal avoids or minimises harm to the significance of St Paul’s Cathedral, and that any residual harm is clearly and convincingly justified”.
The plans were approved by Corporation officers last week, with a confirmation letter dated February 6 included on the authority’s planning portal.
An LSEG spokesperson said: “We are delighted that the City of London Corporation has approved plans for the modernisation 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, said: “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. It supports our long term conviction in Grade A London offices and demonstrates both our team’s deep sector expertise and ability to deliver high quality office space in the City.
“The approved plans will allow the public to learn about and celebrate the history of the London Stock Exchange and provide LSEG with a modern, highly sustainable workspace. We want to thank the City of London for their collaborative approach to the process so far and look forward to working with them throughout the next stages of this exciting project.”
Work is expected to begin in 2027 with completion in early 2029.
