The City of London has given the green light for a "landmark" 36-storey tower near Liverpool Street.
The £500m project at 60 Gracechurch Street was initially proposed in April by Sellar, the º£½ÇÊÓƵ property developer behind The Shard, and Japanese developer Obayashi, as reported by .
The developers have stated that construction will commence in 2026 once the current building is vacated, with completion expected by 2029. This development forms part of a series of new structures set to redefine ³¢´Ç²Ô»å´Ç²Ô’s skyline in the coming years.
The City of London Corporation has confirmed that the plans for 60 Gracechurch Street are in line with its City Plan, Climate Action Strategy and Destination City programme. Shravan Joshi, Chairman of the City of London Planning and Transportation Committee, said the project delivers "much needed A-Grade Office space, whilst simultaneously providing a new visitor and educational attraction, as well as contributing to our net zero goals."
He added: "It is no coincidence that the City is bucking the global trend of rising office vacancy and stalling construction activity. " "With a dedicated, solution focussed planning department, combined with clear policy and strategy, we are creating an environment in which developers and investors can help us create a vibrant, thriving Square Mile, for all to enjoy."
This approval comes on the heels of a recent Deloitte Crane survey which highlighted a decline in the number of new construction projects in London.
However, there has been a seven per cent increase in the number of new projects within the Square Mile. Other proposed developments in the vicinity include the 32-storey building at 85 Gracechurch Street designed by Woods Bagot, KPF’s 33-storey structure at 70 Gracechurch Street and Fletcher Priest’s 32-storey edifice at 55 Gracechurch Street.
