Arab Investments’ plans to build one of the tallest towers in the Square Mile took a step forward this week when the City of London Corporation agreed that a public highway should be sold to facilitate its development.
An 8,330 sq ft fringe around the Pinnacle at 38 Bishopsgate, EC3, has been declared “surplus to highway requirements”.
The 945ft-high Pinnacle won consent in May last year, but there have since been minor alterations to the design, including changes to a canopy overhanging the public highway.
Last week, HSH Nordbank, which funded the £200m purchase of the site, extended its loan for a further year.
