A City of London office building on the market for £160m has had redevelopment plans rubber stamped by the Square Mile’s governing body.
The City of London Corporation has confirmed planning approval for a redevelopment of 1-5 London Wall, EC2, as reported by EG.
The Grade II listed, Edwardian building will undergo refurbishment and a 43,000 sq ft extension, including reinstating a pavilion roof bombed during the Second World War.
Alastair Moss, chair of the City Corporation’s planning and transportation committee, said: “This development hits the mark on a number of the City Corporation’s key objectives – including tackling air pollution, provisions for active transport and the improvement of the public realm.”
He added: “The transformation of this historic property, coupled with the eventual completion of Crossrail and restoration of Finsbury Circus, shows the enduring confidence in the Square Mile’s position as a thriving centre for business and growth.”
Joint venture partners Angelo Gordon and Endurance Land have tasked Cushman & Wakefield with finding a buyer for the site.
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