Two Singapore-based billionaires have put forward proposals for a new skyscraper on the site of the existing Aviva Tower in the City of London that will match the height of Europe’s tallest building The Shard.
Kuok Khoon Hong and Martua Sitorus, who founded the world’s largest palm oil processor Wilmar, put forward the proposals for a so-called scoping opinion to redevelop 1 Undershaft, also known as the Aviva Tower and St Helen’s. The outline is for a 309.6m, 73-storey tower, on the site of current 118m tower next to The Gherkin and the Leadenhall Building.
The plans include 130,000 sq.m. of office space and 2,200 sq.m. of retail, a restaurant and a public viewing platform. The proposals were submitted to London authorities at the end of November with consultation open until December 18. If the development goes forward, the building would be the same height as The Shard – Europe’s tallest office tower.
Kuok and Sitorus bought the building in 2011 for £288m through a private holding company. The building was previously owned by British property tycoon Simon Halabi, from CBRE which was acting as a special servicer on the debt secured against it.
