Redesigned plans for the 295-metre tall tower at 22 Bishopgate have now been given the green light by City Hall.
The project will be built in place of a partially developed seven-storey structure, formerly known as 'The Pinnacle', which was abandoned in 2012 due to the economic downturn.
The new building will comprise 185,000 sq m of office space for approximately 12,000 people. Other features include a restaurant and bar, retail space and a viewing gallery open to the public.
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The project is being developed by Lipton Rogers and is due for completion in 2019.
Mayor Johnson said: "After lying abandoned for four years, 22 Bishopsgate will now get off the ground, providing much needed office space for thousands of city workers and a positive addition to the world-class architecture of the capital's skyline.
"There will be more than 800,000 new jobs created in London over the next 20 years and there is no doubt that tall buildings that are sensitively managed, well designed and in the right place will continue to create the new office space the city needs to retain its place as one of the business capitals of the world."
Sir Stuart Lipton of Lipton Rogers added: "The Mayor has recognised 22 Bishopsgate as a major contribution to the on-going vitality of the City of London with a distinguished and interesting building that includes a number of new innovations designed to put the health and wellness of people first and which aims to be the first building in London to adopt the new Delos WELL building standard."
(LM)
