Minerva has secured permission to build the Minerva Building on St Botolph’s Street, at the eastern end of the Square Mile.
The 217m (712ft) tower will be the tallest in the City with 50 storeys.
Minerva expects to start work on the 92,900 sq m (1m sq ft) building early in 2005 at a cost of £500m.
It should be finished in 2007.
It will look to have a third of the development prelet. The building will have 355 bicycle spaces and 33 car parking spaces. The existing NCP car park will be demolished.
Minerva chief executive Andrew Rosenfield said the building would be an ideal real estate investment trust, He said the tax benefits could have a dramatic impact on the group.
References: Financial Times 14/01/04 page 6, The Times (Broadsheet) 14/01/04 page 23, page 24 (Need to know), The Daily Telegraph 14/01/04 page 31, The Independent (Broadsheet) 14/01/04 page 7
