City of London approves third office tower in 2021

The City of London Corporation has approved a new 38-storey development at 2 Finsbury Avenue, making it the third tall building to receive planning permission in the Square Mile in 2021.

Highlighting the confidence developers have for new commercial developments in the City, the news follows hot on the heels of the planning consents given for 55 and 70 Gracechurch Street earlier this year.

The 2 Finsbury Avenue office-led development, by British Land and GIC, aims to become an innovative, inclusive and sustainable place to work, visit and learn.

The scheme, which is designed by Danish firm 3XN, incorporates new ways of working with flexible and adaptable workspaces suitable for a range of occupiers – from incubators and start-ups to medium-sized businesses. An innovative ‘Open Learning Hub’ will be provided as a way for local communities to access the City’s knowledge and expertise through formal learning programmes, informal networks and talks from institutional providers.

The scheme is targeting a BREEAM ‘Outstanding’ rating through high sustainability standards including the adoption of Circular Economy and Whole Life Carbon principles.

Chair of the Planning and Transportation Committee at the City of London Corporation, Alastair Moss, said: “The high-quality design for 2 Finsbury Avenue is yet another step in the radical transformation of Broadgate as a thriving and vibrant destination in the City.

“It will re-enliven the Liverpool Street area through better pedestrian connectivity, improved urban greening and the enhancement and activation of the public realm.”

Head of Development at British Land, Nigel Webb, said: “We’re delighted with the City of London Corporation’s decision to grant planning permission for 2 Finsbury Avenue.

“As businesses look beyond COVID-19, it is clear that high quality workspace in great locations will continue to play a crucial role in their success, by promoting and supporting innovation, collaboration, training and culture.”