Another skyscraper is coming to the City of London, with a 33-storey building set to be built at 70 Gracechurch Street.
Developers Tenacity – who last month received approval for a similar size development at 55 Gracechurch Street – received the thumbs up from the City Corporation Tuesday lunchtime.
It is another welcome vote of confidence in the revival of the City, despite the ravages of the Covid-19 pandemic and work-from-home regulations.
As with their other development, Tenacity’s plans include a public gallery on upper floors as well as a host of green initiatives, including living roofs and a green wall at street level.
Founder and CEO of Tenacity, Patrick Wong, said the building would “lead the way for a new generation of office led buildings in the City that reflect the changing needs and expectations of occupiers and visitors.”
Planning under the microscope
The announcement comes ahead of a meeting on Wednesday in which councillors will discuss a letter from Transparency International bemoaning the planning process at the Corporation.
The body said that although processes were “either meeting good practice or (are) close to doing so… more improvement is needed” to embed a “culture of transparency” in planning decisions.
The Corporation’s Resource Allocation Sub-Committee will be the first part of the City’s machinery to discuss the letter, with a meeting at the Court of Common Councilmen due to be held in mid-April.
The Corporation’s Governance was criticised in a report by Lord Lisvane last year. A spokesman for the body said of the Transparency International letter that it was “grateful” for the advice.
“We would like them to rest assured that our processes are robust and fit for purpose,” they told the Telegraph.