The scheme near Leadenhall Market has been designed by Woods Bagot and will replace a 1930s office building with approximately 235,000 sq ft of office space and event space with a 270-degree terrace.

Excavations have revealed substantial remains of London’s first Roman Basilica which will be displayed in situ.

Following Mace’s successful tender, the team has now entered the Pre-Construction Services Agreement (PCSA) phase. Completion is scheduled for 2030.

Ged Simmonds, Managing Director Private Sector, Mace Construct said: “Building on our track record constructing market-leading commercial developments in London, 85 Gracechurch Street offers a unique opportunity to deliver a sustainable and forward-thinking office.

“Our focus now is on working closely with Hertshten Properties and the wider project team to deliver a building that responds to its historic context while meeting the needs of a modern, evolving city and its future occupiers.”

Ron Hertshten, CEO of Hertshten Properties UK added: “We are delighted to announce the appointment of Mace as the main contractor for 85 Gracechurch Street.

“85 Gracechurch will be a state-of-the-art office building, delivering approximately 235,000 square feet of premium office space alongside a host of extraordinary amenities. Designed to achieve market-leading environmental performance, the development will set a new benchmark for sustainable office space in the City of London.

“With its extensive track record in delivering complex, high-profile projects, Mace brings a wealth of experience and expertise to the table. We are confident that their leadership will be instrumental in realising our vision for this landmark scheme.

“At Hertshten Properties, we are excited to embark on this next phase of construction with Mace at the helm and look forward to delivering a building that will not only meet the needs of today’s occupiers but also contribute positively to the City for decades to come.”