Ardeshir Naghshineh’s Targetfollow has been given planning consent for a 90m tower at 60-70 St Mary Axe in the City of London.
The City of London Corporation approved the plans for the semi-elliptical scheme which is designed by Foggo Associates and is located next to the Gherkin and Heron International’s Heron Tower which is under construction.
Julian Wells, development director at Targetfollow, said: ‘The design is spectacular and highly distinctive - we think our proposals will greatly add to the City skyscape.
'This will be a new landmark building which sits comfortably within the major tower cluster that is starting to take shape in this part of the City of London.
'We are very excited about this development particularly with its use of low carbon solutions and harnessing of solar and thermal energy.
'The design will maximise good natural light and will also make a contribution to improved public realm around the new building.’
The 24-storey building will have floors ranging in size from 5,000 to 17,000 sq ft, and will total 300,000 sq ft.
Targetfollow said the next phase will be to secure development finance and complete Section 106 agreements.
It said the ‘actual start of the development work will be subject to concluding these matters and to an improving city office market’.
Andy Lowe , director at DTZ which is advising Targetfollow, said: ‘The start of the next development cycle may be two or three years away but the quality of this scheme will ensure that it stays ahead of the competition.’