A new tall building which promises to rejuvenate Leadenhall Market, create major new public spaces and showcase the City’s 2,000-year history has been given the green light.

The City of London Corporation’s Planning Applications Sub-Committee has approved plans for a 32-storey tower at 85 Gracechurch Street, creating over 27,000 sq m of new office space.

Kate Hart, CEO at EC BID said:

“It is great news that the proposed new development at 85 Gracechurch Street has been approved by City planners. The application is a testament to the benefits of this new cultural hub to the area and represents a crucial step in diversifying the City and enhancing its appeal to national and international visitors.

The City of London has long been known for its historic buildings and financial institutions. True to the City’s ability to adapt and innovate, the addition of this new cultural hub – bringing both commerce and creative endeavours together – will help modernise the area and attract visitors from different backgrounds, showcasing the very best of the artistic and cultural offerings. Additionally, the development will boost the local economy, creating new jobs and opportunities for the people of the City and beyond, and drive significant footfall to Leadenhall Market.

As one of the City’s most historic and iconic markets, Leadenhall Market is a supremely valuable asset for the Square Mile. This new development, which will have direct interface with the market, with its ambitious ground floor uses, is exactly what the City needs. Crucially, it could provide the impetus for the holistic revival of the historic market, which would be a significant boost for this area and the wider City.”

You can read more about the development here