In November 2016, DMZ reported that the long awaited 278m tall skyscraper ’22 Bishopsgate’ had got the green light. This was after the French-owned fund management group supporting the project reneged on its threat to withdraw funding if the UK voted for Brexit.
Now DMZ is excited to reveal that approval has been granted for 22 Bishopsgate to gain a new 300m tall neighbour called ‘1 Undershaft’, or as some have dubbed it, ‘The Trellis’. The planning and transport committee of the City of London Corporation said the project will send a clear signal that the Brexit vote had not dampened interest in construction in the square mile.
Chris Hayward, Chairman of the committee, said: “I believe this building will play an important part in increasing London’s attraction as the world’s leading financial centre.”
Designed by the architect Eric Parry for Singaporean developers Aroland Holdings, The Trellis will have a public viewing gallery and what will be London’s highest restaurant.
After planning permission was confirmed, Parry said: “It is a vote of confidence in the City of London; 1 Undershaft will crown the cluster of tall buildings and will be a tower London can be truly proud of.”
It is rumoured that the original plan was 309.6m, the same height of the Shard, but the height was reduced because of restrictions relating to London’s airspace.
Mayor or London Sadiq Khan said, “these two projects (22 Bishopsgate & 1 Undershaft) represent a significant investment in the heart of London’s economy and are a clear sign that the capital is open for business. They will be highly-visible signs of London’s enduring appeal as a place to invest.”
DMZ can’t help but get a little excited about these new announcements. Practically, these developments will provide much-needed office space, but more importantly, in light of the approaching Brexit these approvals are a clear indicator that London is not just open for business, it’s doing a roaring trade. DealMakerz will keep a keen eye on these and other square mile developments during 2017.