The City of London has given its approval for the planning application to construct The Mark, a new office space in the UK’s capital city.

The approval was granted to a joint venture between real estate companies Hobart Partners and PineBridge Benson Elliot.

Located at 47 and 50 Mark Lane, The Mark will feature 215,000ft² of new office space alongside 14,000ft² of cultural, food and beverage, and retail areas.

The Mark includes an exhibition hall, which will serve as an educational history and cultural space for the community, building occupants, and local companies. A café and visitor landing area will also be located at the hall’s entrance.

Construction work is set to begin next year and is expected for completion in late 2026.

The new facility has been designed by Danish architect 3XN and is set to provide a contemporary, occupant-focused environment while fulfilling the highest acknowledged environmental standards.

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Furthermore, the project will convert an old structure with a new facade in a heritage location near the Tower of London World Heritage Site.

City of London Corporation Planning and Transportation Committee chair Shravan Joshi said: “We need a sustainable built environment that meets the growing demand for low environmental impact, but also for spaces that people want to spend their leisure time in. So, I’m pleased to see that developers are aligned with these goals.

“The Square Mile [London] has a uniquely diverse setting, with beautiful heritage assets right next to impressive skyscrapers, alongside medieval churches, livery halls, new restaurants, bars and clubs, as well as residential homes across several estates. We will continue to enhance this offering as part of our ‘Destination City’ policy and deliver a visitor destination for everyone to enjoy.”