The office-led scheme, by British Land and GIC (Singapore's sovereign wealth fund), will form part of the wider Broadgate complex.
It consists of a 12-storey podium that links a 35-storey East Tower with a 20-storey West Tower.
The architect is Danish firm 3XN. Sir Robert McAlpine is expecting to take on the construction, as the sole contractor on British Land’s 10-year Broadgate framework – a £1.5bn investment programme.
The client’s team also includes Ramboll as structural and building services engineer, and Gardiner & Theobald as project manager.
The development offers more than 83,000 sqm of office floorspace, 700 sqm of retail space and 2,100 sqm of learning space. It will widen pavements and create a new north-south pedestrian route connecting Finsbury Avenue Square to Sun Street, adding new public realm with retail frontages.
The scheme is targeting BREEAM ‘Outstanding’ through high sustainability standards including the adoption of Circular Economy and Whole Life Carbon Principles. The design has been assessed by the City’s new Thermal Comfort Index.
The building is designed to be adaptable for a range of occupiers - from start-ups to medium sized business.
The 38-storey tower at 2 Finsbury Avenue is the third tall building to receive planning permission in the Square Mile in 2021. Recent weeks have seen planning permission granted to Chinese developer Tenacity for both a 30-storey tower at 55 Gracechurch Street ad a 33-storey tower at 70 Gracechurch Street.
City of London Corporation planning and transportation chair Alastair Moss said: “The high-quality design for 2 Finsbury Avenue is yet another step in the radical transformation of Broadgate as a thriving and vibrant destination in the City. It will re-enliven the Liverpool Street area through better pedestrian connectivity, improved urban greening and the enhancement and activation of the public realm.
“The developers have ensured sustainability remains at the core of the scheme and have embraced emerging trends for the post-pandemic world, including flexible and adaptable office space to address new ways of working.
“This is the third tall building application to be approved by the planning and transportation committee this year which shows that the fundamental strengths of the City remain unrivalled. 2 Finsbury Avenue is yet another bold example of solid commitment to the City of London by developers as the nation looks toward the steps to unlock national restrictions.”
British Land head of development Nigel Webb said: “As businesses look beyond Covid-19, it is clear that high quality workspace in great locations will continue to play a crucial role in their success, by promoting and supporting innovation, collaboration, training and culture. 2 Finsbury Avenue is well placed to meet the current and future needs of occupiers and visitors.”