The building, known as the “Walkie Talkie” due to its shape, is due to open in 2014 will be among the tallest and the most striking buildings in the capital. The construction work will be carried out by Britain’s biggest property developer, Land Securities.  This is the second high-value project that has been given the go ahead in the Square Mile, and comes after the UK recorded its highest growth in many years – a sign that confidence is returning to the City. 

Morgan Pryce, London’s commercial property agent, understands that the 25-hectare site will include retail and commercial space as well as a 200-bed hotel and 2,491 homes.