The British Land Company PLC and the Blackstone Group are delighted that the City of London Planning Committee today resolved to grant planning permission for a new world class office building for financial services firm UBS at 5 Broadgate. 5 Broadgate will provide a total net office floor space of approximately 700,000 sq ft (66,890 sq m), and will include four trading floors capable of accommodating approximately 750 traders per floor.
5 Broadgate will allow UBS to bring together its trading operation into one building in the City. This new building also represents a further stage in the successful evolution of the Broadgate office estate and the retention of one of the world’s leading investment banks in the heart of the City of London.
Chris Grigg, Chief Executive of The British Land Company PLC, said: “The City, in its decision today, has acknowledged the importance of the current and future needs of key occupiers for attractive, flexible and sustainable floor space, the retention of UBS in Broadgate and the maintenance of London’s status as a world class financial centre.”
In its Committee Report, the City described 5 Broadgate as a “striking and eye catching addition to the new architecture of the City” and in its Design Review the Government’s design adviser, CABE, said that 5 Broadgate “is an exciting opportunity for a major new building in the City of London”.
Source: britishland.com