In terms of asset values, Schroders is among the largest fund managers in the UK, and the finance firm is reportedly in talks to become the first company to commit to office space in what is set to be one of Britain’s tallest buildings.
The Pinnacle Tower site in Bishopsgate is currently under development, and the project’s manager, Arab Investments, is hoping an occupancy agreement with Schroders will help it secure the finance required to complete the construction of the skyscraper.
Arab Investments bought the 64-storey project for around £200 million in 2007, and the company’s managing director, Khalid Affara, told Bloomberg recently that he hopes deals will soon be agreed on more than 300,000 square feet of office space at the site.
“We’re going out there saying we will be aggressive because we need the development finance,” Mr Affara is quoted as saying.
“I’m confident I will sign a tenant to enable this project to continue,” he added.
Meanwhile, Pinnacle Tower’s architect Lee Polisano suggested that his skyscraper was on the perfect site for the tallest building in the City.
Last week, Peter Rees, principal planning officer for the Square Mile, told the Guardian that work is always being done to make sure the City of London remains a world-class place to live and work.
Editor’s notes: Research in June 2023 found that due to financing issues, construction was halted in 2012, with only the concrete core set for the first seven floors.
In 2013, the original plans for the building, which had been renamed 22 Bishopsgate or TwentyTwo, were revised, and in 2015, the site was sold to a commercial property investment consortium led by Axa Real Estate.
Schroders announced in 2014 that it had chosen 1 London Wall Place as its London headquarters.
In 2016, it was announced that the building would be developed under revised plans with a proposed completion in 2019.
In 2017, the revised plans were approved, and the building was completed in 2020.
At completion, the 62-storey tower was the tallest skyscraper in the City of London and the second-tallest in the capital and the UK, behind The Shard, standing at 278 metres (912 feet).
In April 2023, tenants at the 62-storey 22 Bishopsgate included Nasdaq, Cooley LLP, William Blair International, and the flexible office space provider Convene.
In the same month, just four floors of the building remain available to let.
Research conducted in June 2026 found that BNP Paribas reported in January 2025 that 22 Bishopsgate was fully let, with leasing deals completed with Canada Life, Hiscox, Tata Consultancy Services and Unicredit, amongst others.
However, there is a wide range of leased offices and flexible workspace solutions to suit all budget requirements, from cheaper offices to Prestige Offices Bishopsgate office space options, all in close proximity to the iconic tower and excellent transport links, including Liverpool Street Station.
The amenity space had also been let to high-profile occupiers, including Gordon Ramsay, who took levels 58 to 61 at the top of the building and opened several dining options, including Bread Street Kitchen & Bar, the Michelin-starred Chef’s Table and Lucky Cat.
The journey following the celebrity chef’s launch of his restaurants at 22 Bishopsgate was documented by Netflix and released in February 2026.