Detailed planning consent for a new 81 metre high office development has been granted by Hackney Council following submission of an application by agents GVA Grimley on behalf of City Assets Ltd. The scheme begins a new phase of the economic regeneration of the South Shoreditch area of the London Borough of Hackney close to Broadgate. The scheme will offer approximately 250,000sq ft (c.23,225 sq m) of high quality office and ground floor retail space. The overall appearance and floorplate configuration are designed to appeal to international banking and professional services tenants. The building’s design and public realm improvements will help transform an underinvested City Fringe area into a dynamic business quarter.