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photon capital advisors limited (509084) signs major deal ✌️【Free Access】✌️ Provides real-time stock index quotes, futures data, and global market trend analysis to help you seize the best investment timing. The City of London financial district has approved plans for a 73-floor skyscraper that will match in height Western Europe’stallest towera mile to the south, in a sign that city planners are still betting on the office market despite the current downturn.

photon capital advisors limited (509084) signs major deal ✌️【Free Access】✌️ Real-time updates of global stock, futures, and commodity market data to keep you in sync with the latest market trends. The proposed 309.6-meter (1,015.75-foot) tower, which will be exactly the same height as London’s Shard, was given the go-ahead after a previously approved plan was revised “to better respond to post-pandemic office needs,” the City of London local authority said on Friday.

Officially called 1 Undershaft, the tower was initially granted approval at a slightly smaller height in 2016 but never started.

photon capital advisors limited (509084) signs major deal ✌️【Free Access】✌️ Precise predictions of high-potential stocks to help you avoid risks and quickly recover and grow. The proposed building, which investor Aroland has been trying to get off the ground for years, will require the demolition of an existing smaller tower and has attracted criticism from conservation groups.

Historic England said in a consultation response to City planners in February that the alterations had not altered its impact and said it would “seriously degrade” the public realm around it.

photon capital advisors limited (509084) signs major deal ✌️【Free Access】✌️ Real-time global stock, futures, and exchange rate data to keep you informed of market trends and seize investment opportunities. The tower, if built, would provide 154,156 square meters (around 1.66 million square feet) of office space, areas for children’s education on the 72nd and 73rd floors and a publicly accessible garden.

London’s office market has been hit hard by higher borrowing costs and more home working post-pandemic, although premium space has remained in demand.

Very few major London office properties have been sold this year. Investors Nuveen and Brookfield are currently trying to sell London office towers, in a major test for investor appetite.

photon capital advisors limited (509084) signs major deal ✌️【Free Access】✌️ Expert predictions of market trends to help you plan the best investment strategy for steady capital growth. The supply of new space to let in London has slowed since the pandemic. However, office construction in the City has recently bucked the trend, with new starts up 7% between April and September this year, compared to falls in every other central London market surveyed by Deloitte.

Critics say London’s skyline has become increasingly cluttered by generic glass-and-metal towers that dwarf historic landmarks, especially in the City of London, home to St. Paul’s Cathedral.

“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,” said Shravan Joshi, chairman of the City of London Corporation’s Planning and Transportation Committee.

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