The proposed 73-storey skyscraper at 1 Undershaft will rise to 309.6m putting it level with the Shard’s tallest steelwork point in London Bridge.

Singapore-based developers Aroland Holdings has commissioned architect Eric Parry to work up a design for the site with view to submitting planning early next year.

The 90,000 sq m building would be able to accommodate 10,000 people and boast a viewing platform higher than that of the Shard, and London’s highest public sky restaurant.

It would stand 28m higher than the replacement tower for the Pinnacle scheme at 22 Bishopsgate, recently given the green light by planners.

A conceptual design by Avery Associates for the previous owner of the 1 Undershaft site proposed an angular sloping sided glass tower peaking at 270m and prompted one contractor to dub the building “The Fang”.

The new design is for a more conventional office tower block with distinctive visible structural cross bracing.