Hunt backs Broadgate

English Heritage’s attempt to get 1-4 Broadgate listed has failed. The refusal of culture secretary Jeremy Hunt to follow the conservation body’s recommendation, means owners British Land and Blackstone can go ahead with plans to build a new office building for UBS at 5 Broadgate. The building represents a total investment of £850m.

Chris Grigg, British Land chief executive, said: “With the decision made today by Jeremy Hunt, the government has also sent out a message loud and clear to the world that the UK is open for business.” The City of London planning committee had previously resolved to grant planning earlier this year.

The new 700,000 sq ft building will include four trading floors capable of accommodating about 750 traders per floor. UBS will be able to bring together its trading operation into one building in the City.

British Land said this new building also represented a further stage in the successful evolution of the Broadgate office estate enabling it to meet both the current and future needs of existing and potential occupiers for “attractive, flexible and sustainable environments for their employees”.