Aroland Holdings has received planning consent for a mixed-use development at 1 Undershaft in London, UK.
The project, approved by the City of London Corporation, will involve the construction of a 73-storey building, following the demolition of the existing Aviva Tower.
According to Aroland Holdings, the 1 Undershaft will be the second tallest building in Western Europe upon completion, with a height of 304.94m,
The development will feature 130,000sq m of office space and over 2,000sq m of retail space. The top of the building will include a free public viewing gallery with a restaurant and interactive learning spaces, while its base will have a new larger public square.
Chris Hayward, chairman of the City of London Corporation’s planning and transportation committee, said: “Over the next thirty years I expect that we will need to deliver office space for more than 50,000 extra workers within the Square Mile, and this development is important in reaching that end goal.
“This development shows the high levels of investor confidence in London’s status as a global city following our decision to leave the European Union. I believe this building will play an important part in increasing London’s attraction as the world’s leading financial centre.”
Around 10,000 workers will work in the building following its completion.
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