LONDON-British Land and Stanhope have been granted planning consent to redevelop 51 Lime Street, London EC3. They plan to replace the existing 200,000-sf building with 532,735-sf of office space and 6,609 sf of retail.

The building is designed by Foster & Partners, the most prolific City architects’ practice which has just completed London’s City Hall and has major tower buildings currently under construction on the Baltic Exchange site in St Mary Axe and in London Wall.

British Land’s Chairman and Chief Executive John Ritblat said: “We are pleasedto get this resolution which followed close consultation with the CityCorporation. We will now carefully consider the programme for carrying out thedevelopment, in line with market conditions and occupier demand.”