Nearby, 60 Ludgate Hill would also undergo a considerable revamp if Land Securities’ plans are given the green light by the relevant planners in the City of London.
The aim is to add close to 400,000 square feet of Grade A central London office space to the existing stock and to improve certain leisure and shopping facilities in the city’s primary financial district.
A rather larger-scale mixed-use development called One New Change is well underway in the same area of the city by the same real estate investment trust, but Land Securities is keen to be granted permission to reinvent one of the most historic parts of EC4.
Colette O’Shea, development director of Land Securities’ London Portfolio, commented: “The proposed scheme at 30 Old Bailey and 60 Ludgate Hill will dramatically enhance the environment for the thousands of people who work and visit in this part of the City.
“The plans will bring contemporary office space to the London market where there is a forecast shortage of supply, and will deliver new high-quality retail and leisure facilities to the City.”
The Old Bailey building on the same street hosts the Central Criminal Court of England and is just a short walk from the iconic St Paul’s Cathedral and the River Thames.
One New Change recently received considerable praise from the UK’s climate change minister, Greg Baker, who described the environmentally friendly energy system being developed there as “British innovation at its best”.
Editor’s notes: Land Securities rebranded as Landsec in 2017 and had been granted planning permission for the scheme combining 30 Old Bailey and 60 Ludgate Hill. Work on the 389,615-square-foot office and retail scheme, named 1 & 2 New Ludgate, was completed in 2015.
Office leases were agreed upon at 1 New Ludgate with several occupiers, including Ropes & Grey International LLP, Commonwealth Bank of Australia, and Mizuho Bank, who agreed to rent the entire 206,310 square feet of office space at 2 New Ludgate.
In December 2020, it was announced that Landsec had sold 1 & 2 New Ludgate to Sun Venture for £552 million in a cash deal.
As well as leasehold commercial property, Landsec provides flexible workspace and office space solutions through its flexible workspace brand MYO
The brand provides a range of solutions at several Central London properties, including 123 Victoria Street, One New Change and Liverpool Street, offering flexible, fully serviced offices on short, simple leases.
In May 2023, it was announced that Mizohu Bank would acquire U.S. M&A advisory firm Greenhill & Co Inc for $550 million as part of its Stateside expansion plans.
As of June 2026, there was just 3,246 square feet of office space available to lease at One New Lugate. This was described as high-quality fitted accommodation, and the rent was quoted at £52.50 per square foot per annum.