The City of London has delayed a decision on the Square Mile’s new tallest building after a last-minute objection from the chair of insurance market Lloyd’s of London. City of London Corporation officials had recommended the approval of the 73-storey skyscraper, called 1 Undershaft. But on Tuesday they faced a grilling from members of the body’s planning committee over the encroachment on St Helen’s Square, at the base of the tower.
The project was first approved by the City in 2016 as a straightforward tower design by architect Eric Parry. It is being pushed by Aroland Holdings, working with developer Stanhope. Aroland is backed by Singaporean tycoon Kuok Khoon Hong, chair and chief executive of food processing giant Wilmar International Limited, one of the world’s largest oil palm plantation owners.