Announced during the MIPIM property show in Cannes, France, it took more than two years of consultation, during which 60 interested parties made more than 250 presentations and the developer, Sellar Property Group, held exhibitions at locations including Bermondsey Village Hall and Hays Galleria.

The building is being designed by architect Renzo Piano. He says he draws his inspiration for the design from Canaletto's views of London, dominated by spires.

Organisations which spoke in support of the project include Guy's Hospital, King's College, Southwark Heritage and Railtrack.

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