Aroland Holdings and Stanhope’s 1 Undershaft, EC3, has been approved by the City of London Corporation.
The Eric Parry-designed, 74-storey office tower will be the Square Mile’s tallest. The corporation’s planning committee deferred a decision on the project in July, largely over concerns from neighbouring businesses about the loss of public space. Stanhope then resubmitted proposals.
David Camp, chief executive of Stanhope, said: “We are proud of the significant contribution these plans will make to the City as a world-leading destination, including through delivering one of the highest amounts of commercial floorspace of any building in London.”
Shravan Joshi, chairman of the City of London Corporation’s planning and transportation committee, said: “1 Undershaft is a truly remarkable building that will not only help to deliver on the demands for economic growth, through the high-quality office space it offers, but also contribute to the City’s growing cultural offer and tourist appeal.
“As another much-needed office development gets approved in the City of London, it speaks to the confidence that global investors have in the London real estate market and the UK economy more widely.
“I’m particularly pleased we will be able to work with the London Museum to open the uppermost floors of 1 Undershaft to schoolchildren and local communities, a classroom in the sky, developing another inclusive, unique visitor destination that makes the Square Mile the best place to live, work, play and invest.”
Image © DBOX
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