The City of London Corporation has granted planning permission to the 263m-tall "Cheesegrater 2" skyscraper at 100 Leadenhall Street.
Designed by Chicago architect Skidmore, Owings & Merrill (SOM), the 56-storey project is being developed by Hong Kong’s Lai Sun Development Company, and will contain 102,000 sq m of office space.
The building will be the third tallest in the city’s "eastern cluster", although it is due to be surpassed by the 278m 22 Bishopsgate development, which is under construction, and the 305m high 1 Undershaft, which has not yet broken ground.
Structures at 100, 106 & 107 Leadenhall Street will be demolished to make way for the project.
Oliver Caroe, surveyor to the Fabric at St Paul’s Cathedral, told the BBC that high-rise developments in the area were "chipping away" at the city skyline. He said: "This should not happen in London, which has some of the clearest and robust policies to safeguard the city and its cultural identity."
The City of London Corporation has launched a public consultation on improvements to the eastern cluster.
In 2014 it was announced that bolts were falling from the 222m tall original Cheesegrater.
Construction on the project is due to be completed by 2026.
Images courtesy of SOM