The City of London has approved plans for what would be the third tallest building in the square mile.
Investment giant Schroders and developer Stanhope are planning a scheme that includes mixed-use buildings of 63 and 22 storeys.
The largest building, at 284 meters high, will be the tallest in the City of London apart from the building not yet built. Scheme of 305 meters 1 Undershaft and Multiplex-built, 295 meters 22 Bishopsgate.
A viewing gallery and roof garden at the top of the development will be open to the public, with a new public space on the ground floor allowing for events, start-ups and art installations.
A planning subcommittee approved the plan on Friday (July 21). In a statement, the panel said the development would be “a distinctive, sustainable and stylish architectural addition to the consolidation of the City Cluster on the London skyline, providing 103,000 sq m of much-needed office space”. It was estimated to hold 14% of future office demand in the Square Mile until 2036.
Historic England, the public body that oversees the country’s historic environment, had opposed the application on the grounds that it would damage the views of St Paul’s Cathedral from Waterloo Bridge. Meanwhile, the Greater London Authority pointed out issues with travel to the building and recommended further consultation with the capital’s transport body, Transport for London.
Demolition of the existing building at the site will begin in 2024 and construction will be completed in 2029. Contractors for the work have not yet been announced.
Shravan Joshi, chairman of the City of London Corporation’s planning and transport committee, said the scheme sets “a high bar” for other developers.
He said the free public viewing gallery would help meet goals of turning the square mile into a “seven-day-a-week visitor destination.”
“Decisions like these also cement the city’s position as a leading international financial and business center in the world,” he added. “The site is central to the city’s growth model and will make a major contribution to the office space needed to meet anticipated economic demand and employment growth.”
The plan could still be called in by the Mayor of London for further consideration.
