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Plans approved for new Goldman Sachs HQ

US investment bank Goldman Sachs has received preliminary planning approval for the construction of its new London headquarters.

Covering 1.2 million sq ft, the new high rise premises will be built near Holborn Viaduct in the City at the former telephone exchange on Farringdon Street and Shoe Lane. It is estimated to take up to four years to complete.

The nine-storey building will require the efforts of more than 500 construction workers, with work on the project forecast to commence from early 2014.

An empty 1960s tower block currently resides on the proposed construction site, but this structure is to be demolished over the coming months in order to make way for the new Goldman Sachs development.

The area is currently undergoing significant regeneration works, with several other major projects in the pipeline ahead of the planned opening of the new Crossrail Farringdon station later this year.

All that now remains for the development to get underway is official consent from local planners, but this is not expected to be an issue given the high-specification architect plans that have been submitted as part of the bid and the fact the current building occupying the land is unused.

Architect firm Kohn Pedersen Fox Associates played a major role in the creation of the new plans.

Elsewhere in the capital, international development firm Mace earlier this month welcomed the news it has been named the preferred bidder on the new £400 million Victoria Circle station.

With six new buildings to be constructed as part of the scheme, the new mixed-use project will provide 910,000 sq ft of grade A office space once completed, as well as a considerable allotment of new retail areas.

Demolition work on the project began in October and Mace is expected to begin rebuilding work in earnest later this year. 

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