London Shard Developer Wins Approval for Tower Nearby

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Sellar Property Group, developer of the Shard in London, won local government approval to build a 26-story residential tower close to the skyscraper on the south bank of the River Thames.

The council for the Southwark borough voted in favor of the 148-apartment project, which also includes a 16-story tower, at a meeting yesterday, Sellar spokesman Baron Phillips said by e-mail. The project, like the Shard, will be developed in a partnership with the state of Qatar.

Developers plan to construct more than 25,000 luxury properties in London worth more than 60 billion pounds ($96 billion) over the next decade, EC Harris said in an Oct. 7 report. The homes approved yesterday at the Fielden House site are expected to sell for about 800,000 pounds each, according to a filing by the borough.

The project “is vital to the urban regeneration of London Bridge that was started with The Shard. The mixed-use high density tower provided the catalyst for the regeneration of the station,” architecture firm Renzo Piano Building Workshop wrote in an April filing to the borough. The buildings on London Bridge Street and St. Thomas Street “will complete the transformation.”

Sellar and Qatar also developed The Place office building at London Bridge station.