Tower Hamlets Strategic Planning Committee has approved planning permission for 1 Bank Street and outline planning permission for 1 Park Place for the Canary Wharf Group.

Both sites are in London, with construction due to begin later in 2015.

Designed by John Pederson Fox (KPF), a 700,000 square foot building with 27 storeys will be constructed at 1 Bank Street, including 3 trading floors, as well as a retail unit at ground level and a free-standing retail kiosk on South Dock Promenade. There will also be public access to a new promenade along the South Dock.

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A 25 year lease for 280,000 square foot of 1 Bank Street has been agreed with banking institution Société Générale. It will occupy the ground and 1st to 7th floor at a rent of £47.50 per square foot, with 36 months' rent free beginning from the summer of 2019.

Outline planning permission for 1 Park Place was granted following a resolution from the Strategic Development Committee in 2014. Consent has been given for an office building with a floor space of slightly over 1 million square feet.

The office building is to be designed by Squires & Partners, but there are no immediate plans to develop the site.

(LM)