London Stock Exchange Headquarters Set for Major Revamp with Three New Extensions
The iconic London Stock Exchange Group (LSEG) headquarters at Paternoster Square is poised for a significant transformation, with planning approval granted for a comprehensive refurbishment project that will include three substantial extensions. Located just north of St Paul's Cathedral in the heart of the Square Mile, this development marks a pivotal moment for one of the City's most prestigious financial institutions.
Historic Base to Receive Modern Upgrade
King Edward Court, which has served as the LSEG's base for over two decades, will undergo extensive works expected to commence in 2027 and conclude in early 2029. The building, originally designed by renowned firm Eric Parry Architects and completed in the early 2000s, will be revitalised to create what the group describes as "outstanding facilities for our people and our customers" in the City of London.
Real estate investors Oxford Properties and Hines, as long leaseholders of the property, spearheaded the planning application to the City of London Corporation. This follows the LSEG's recent signing of a new long-term lease agreement, securing their continued presence at this prestigious location beyond the previous September 2028 expiry date.
Transforming Private Operations into Public Celebration
The approved plans envision a fundamental shift in how the LSEG presents itself to the world. A principal objective outlined in planning documents aims 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." This ambitious vision acknowledges the institution's 300-year history as a cornerstone of London's financial markets.
Key architectural changes will include:
- A completely redesigned ground floor lobby creating more open, accessible space
- Three upper-level extensions providing additional premium office accommodation
- Enhanced landscaping across balconies and roof areas
- Permanent display of the Exchange's historic 1801 Foundation Stone
The refurbished ground floor will specifically enable visitors to participate in ceremonial events such as the London Stock Exchange's famous opening and closing ceremonies, bringing previously private rituals into the public realm.
Balancing Modernisation with Heritage Concerns
The development has not proceeded without careful consideration of its impact on the surrounding historic environment. During consultation phases, concerns were raised regarding potential effects on the visual setting of St Paul's Cathedral, a UNESCO World Heritage Site.
Oliver Caroe, Surveyor to the Fabric of St Paul's Cathedral, noted potential "adverse heritage impact" from the proposed fifth floor rooftop extension, particularly when approaching the cathedral. Historic England similarly advised that any approval must ensure the proposal "avoids or minimises harm to the significance of St Paul's Cathedral" with any residual impact being "clearly and convincingly justified."
Despite these concerns, Corporation planning officers granted formal approval last week, with a confirmation letter dated February 6 now published on the authority's planning portal.
Creating a Sustainable Future Headquarters
Robin Everall, Head of Development (Europe) at Oxford Properties, emphasised the project's broader significance: "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."
He further highlighted how the approved plans "demonstrate both our team's deep sector expertise and ability to deliver high quality office space in the City" while providing LSEG with "a modern, highly sustainable workspace." The development reinforces Oxford Properties' long-term commitment to Grade A London office space despite evolving workplace trends.
An LSEG spokesperson expressed delight at the planning approval, confirming that the modernisation works will "create outstanding facilities for our people and our customers in the heart of the City." The project represents a substantial investment in both the physical infrastructure and public profile of one of London's most globally recognised financial institutions.
