Insurance company Generali with joint venture partner Babcock & Brown through their Saxon Land joint venture have got the go ahead for a 600,000 sq ft, scheme at 120 Fenchurch Street.

The Eric Parry-designed15-storey scheme will include retail use at ground level.

Eric Parry said: ‘120 Fenchurch Street will set a new street scale for this district of the City.

'The building will have a presence through a multitude of views, with a crystalline appearance which changes constantly, activated by daylight and weather conditions.’

Also at the planning meeting Stanhope, Schroders and the Clothworker's Company's plans for a 200,000 sq ft scheme, designed by Allies & Morrison, at 8-10 Moorgate, were asked to go back to the drawing board.

It had planned to develop 165,000 sq ft of offices, a 1,700 sq ft ground-floor shop and nine flats.

DP9 is advising on planning.

A spokeswoman for Stanhope said that the project had been deferred and it was awaiting the planners' report.