Designed by Kohn Pederson Fox, 1 Bank Street is planned as a 700,000 sq ft building with 27 storeys including three levels of trading floors and shops at ground level. There will also be public access to a new promenade along the South Dock.

Site enabling works started earlier this year and construction is now scheduled to begin later this year.

Banking giant Société Générale has already agreed a lease for 280,000 sq ft of 1 Bank Street. It will occupy the ground and first to seventh floors on a 25 year lease at a rent of £47.50 per sq ft and 36 months’ rent free commencing from the summer of 2019.

Tower Hamlets Strategic Planning Committee also granted outline planning permission for the 1 Park Place scheme, a 31-storey office building at the vacant site next to West India Middle Dock.

Consent has been given for an office building comprised of up to just over 1m sq ft of floorspace.

The Council will now determine a reserved matters application for this office building which is designed by Squires & Partners but there are no immediate plans to develop this site.

It will be located next to CWG’s proposed Diamond Tower residential skyscraper and a new 185m tower at Herons Quay West.