UBS’s new city offices get green light

City of London Planning Committee grants planning permission for 5 Broadgate

Article posted: 20 Apr 2011

The British Land Company and the Blackstone Group heard yesterday that the City of London Planning Committee has resolved to grant planning permission for a new world class office building for financial services firm UBS at 5 Broadgate. 

5 Broadgate will provide a total of 700,000 sq ft of office space in the City of London, including four trading floors capable of accommodating approximately 750 traders per floor.

The new offices at 5 Broadgate will allow UBS to bring together its trading operation into one building in the City. This new building also represents a further stage in the successful evolution of the Broadgate office estate and the retention of one of the world’s leading investment banks in the heart of the City of London.

Chris Grigg, Chief Executive of British Land, said: “The City, in its decision today, has acknowledged the importance of the current and future needs of key occupiers for attractive, flexible and sustainable floor space, the retention of UBS in Broadgate and the maintenance of London’s status as a world class financial centre.”

In its Committee Report, the City described 5 Broadgate as a “striking and eye catching addition to the new architecture of the City” and in its Design Review the Government’s design adviser, CABE, said that 5 Broadgate “is an exciting opportunity for a major new building in the City of London.”

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Posted by Sam