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Commercial development given go-ahead | 28 April 2011

Plans to create a 700,000-square foot office block in London have been given the go-ahead by the City of London Planning Committee.

According to the Commercial Finance Group, the plans will see the commercial property erected at a Broadgate address in the capital.

The office block will boast four floors, and will be home to a worldwide financial services group.

Developers behind the office block have predicted it will become an “eye-catching” sight for the inner City.

The chief executive of the British Land Company, Chris Grigg, was delighted at the news. He told the press: “The City…has acknowledged the importance of the current and future needs of key occupiers for attractive, flexible and sustainable floor space.”

He went on to say that the development and further approval by the planning committee would also go a long way in cementing London’s reputation as “a financial centre of the world,” B2B Mortgage reported.

The news came shortly after another international finance company publicly announced its intentions to sell the Canada Square building in the City; which boasts 45 storeys, and has an asking price of £1 billion.

Written by Deborah Bates on behalf of Qube Global Software

While posted by Qube Global Software all views expressed are not necessarily those of the company. All facts are verified where possible directly by the author.

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