LONDON (BLOOMBERG) - Aroland Holdings Ltd., a Singapore-based developer, plans to build the tallest tower in the City of London's financial district near the skyscrapers known as The Cheesegrater and The Gherkin.
The 73-storey building will include a public viewing gallery and restaurant at the top, as well as enough workspace for 10,000 people, Aroland said in an e-mail on Monday. Plans have gone on display and construction approval will be sought next year.
The proposal comes as landlords start to sell up in the district. Properties valued at 6.1 billion pounds (S$12.99 billion) are on the market in the City, a sixfold increase since May, according to Great Portland Estates Plc data. In 2018, central London developers are due to deliver the highest amount of office space in 26 years, Deloitte LLP said last month.
Axa Investment Managers - Real Assets, the property unit of Europe's largest insurer, won approval from the City of London borough last month to develop an office tower at 22 Bishopsgate.