The City of London Corporation has granted planning consent to the £1.5bn “Diamond tower”; a 56-storey office tower that will become the City’s third tallest.
Hong Kong-listed Lai Sun Development assembled the site at 100 Leadenhall during 2014 and 2015, acquiring a number of buildings for a total of £188.5m. London & Oriental is the UK investment advisor and property asset manager to Lai Sun.
‘The Diamond’ will provide 1.1m sq ft of office space, as well as retail space at ground floor level and a free, publicly accessible viewing gallery at the top of the building. Level 55 will offer 360 degree views across London, while Level 56 will offer an extended triple-height space with exceptional views to the south.
Existing tenant leases expire in 2023 but work will start on site as soon as vacant possession can be achieved. It is anticipated that construction will take approximately four years.
Following the approval Cannell, Partner at London & Oriental, said: “The Diamond will provide much needed high-quality office space. But it will not just benefit those who work inside it – it will also provide more activity at street level for those who live and work in the local area, as well as a free viewing gallery at the top of the building offering spectacular 360 degree views across the whole of London.”
Chew Fook Aun, Deputy Chairman of Lai Sun Development based in Hong Kong, said: “Lai Sun has been present in London since 2010 and is committed to its long term development. The City, as the world’s pre-eminent financial capital, has a continuing need for ‘best in class’ office, retail and public space and this investment is a reflection of our confidence in the City’s future as the world’s financial centre.”
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