Offices that could be a home for start-ups to join Square Mile skyline

A new 38-storey office development has been given the go-ahead, making it the third ‘tall’ building to receive planning permission in the Square Mile so far in 2021.

FTSE 100 property developer British Land and investor GIC are behind the 2 Finsbury Avenue project, which will comprise over 893000 square feet of office space, shops and more than 1,500 new cycle spaces.

The scheme, which is designed by 3XN Architects, will feature flexible workspace suitable for a range of occupiers, including start-ups to medium sized business.

The City of London Corporation, which approved the plans, said a ‘open learning hub’ will be provided as a way for local communities to access learning programmes and talks from institutional providers.

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The plans come despite some market concerns about how occupier demand for space will hold up post-pandemic.

Numerous office staff have worked from home since the first lockdown, and a mixture of remote and office work is set to be embraced by many companies in the future.

Investors think there will still be competition for modern and attractive buildings in the capital.

Nigel Webb, head of development at British Land, said: “As businesses look beyond Covid-19, it is clear that high quality workspace in great locations will continue to play a crucial role in their success, by promoting and supporting innovation, collaboration, training and culture.”

Alastair Moss, chair of the planning and transportation committee at the City of London Corporation, recently said: “Developers remain very eager to invest in the Square Mile, so much so that we recently employed additional planners to meet demand.”

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