Kuwait’s Wealth Fund Launches Legal Battle Over London Skyscraper's Impact on Light

The Kuwait Investment Authority (KIA), the country’s sovereign wealth fund, has taken legal action in the High Court against the construction of a new skyscraper in the City of London, arguing that the planned tower at 50 Fenchurch Street will severely obstruct natural light to its neighbouring property — the landmark Willis Building.

KIA, which owns the freehold of the Willis Building, home to the global headquarters of insurance giant Willis Towers Watson, is challenging the development led by Axa Investment Managers Alts, the real estate arm of French insurance firm Axa. According to a lawsuit filed in November and now brought to public attention by the Financial Times, the sovereign wealth fund claims the 36-storey office tower would cause a significant reduction in the daylight received by the Foster + Partners-designed Willis Building, which was completed in 2008 and has been lauded for its architectural innovation.

The KIA is seeking a court order that would either halt the tower’s construction or compel the developer to pay compensation. No specific figure for damages has been disclosed at this stage.

This case is generating considerable interest within the property industry, as such disputes over daylight loss are usually handled during the initial planning phase. Axa IM Alts had secured full planning permission for the development from the City of London Corporation back in 2020. The Corporation’s planning report at the time stated that environmental concerns, including the potential loss of sunlight and overshadowing of nearby properties, had been rigorously assessed, concluding that the scheme met acceptable standards.

While Axa IM Alts has refrained from offering a detailed public response, a spokesperson said, “We believe these claims are without merit,” and noted that the company has not yet filed its formal defence in court.

Once a standout on the City skyline due to its shell-like, tiered design, the Willis Building has in recent years been increasingly dwarfed by newer high-rises such as the Cheesegrater, the Walkie Talkie, and 22 Bishopsgate — the tallest structure in the Square Mile and also a project developed and owned by Axa IM.

Construction groundwork for the Fenchurch Street tower has already been completed, with the main phase of development scheduled to begin this summer and finish by 2028. The building is set to deliver 650,000 square feet of office space and will feature a vast green wall. It will also incorporate a new livery hall for the historic Clothworkers’ Company, which has maintained a presence on the site for nearly five centuries.

The site is also shared with two significant heritage structures — the grade I-listed fourteenth-century Tower of All Hallows Staining and the grade II Lambe’s Chapel Crypt, which dates back to 1200. Both are slated for restoration as part of the wider redevelopment plan.

By fLEXI tEAM