The tower will offer 154,156m² of Grade A office space. Credit: DBOX.

The City of London Corporation’s Planning Applications-Sub Committee has given the go-ahead to the construction of 1 Undershaft, which is expected to become the tallest tower in London, UK.

Positioned between the iconic ‘Gherkin’ and the Leadenhall building, the approved structure will be a 74-storey office tower.

This development aligns with the City Corporation’s goal to deliver a minimum of 1.2 million square metres of new office space by 2040.

The revised proposals for 1 Undershaft aim to meet post-pandemic office requirements and the City Corporation’s ‘City Plan 2040’ objectives.

This tower will offer 154,156m² of Grade A office space and include a 1,000m² public space and children’s education area, in partnership with the London Museum, accessible seven days a week.

The City Corporation’s Destination City agenda, which seeks to increase footfall and economic growth, is supported by the new tower’s features.

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The educational space is designed to provide a compelling cultural and public offering in the heart of the city.

Additionally, 1 Undershaft will feature a 2,500m² publicly accessible podium garden elevated 42m above street level, offering views of the Lloyds building and other historic assets.

This garden, along with food, drink, and retail amenities aims to become a distinctive destination within London (the Square Mile).

The project also includes a transformation of the ground-level public realm, improving accessibility and aesthetics from St Mary Axe to Leadenhall Street.

New greening, seating, and wayfinding will enhance the area, alongside a large digital screen for events and screenings.

This decision comes as the latest Deloitte Crane survey indicates an increase in new construction activity in the Square Mile by 7%, underscoring the city’s status as a prime investment and development location.

City of London Corporation Planning and Transportation Committee chair Shravan Joshi said: “1 Undershaft is a truly remarkable building that will not only help to deliver on the demands for economic growth, through the high-quality office space it offers, but also contribute to the city’s growing cultural offer and tourist appeal.

“As another, much-needed office development gets approved in the City of London, it speaks to the confidence that global investors have in the London real estate market and the UK economy more widely.

“I’m particularly pleased that we will be able to work with the London Museum to open the uppermost floors of 1 Undershaft to schoolchildren and local communities, a classroom in the sky, developing another inclusive, unique visitor destination that makes the Square Mile the best place to live, work, play and invest.”