There has been a mark of approval given to the grant of new City Offices that shall serve the purpose of headquarters of the UBS.

The planning committee at the City of London Corporation was of the view that the 6 and 4 Broadgate may be knocked down and there can be the redevelopment of the same. This shall allow the new headquarters to be positioned at 5 Broadgate.

In a recent report by the Property Week, it was revealed that the UBS that also had its offices situated in 8-10 Broadgate as well as 1-2 Finsbury Avenue and 100 Liverpool Street shall have to pay a sum of £54.50 per sq ft.

There was a recommendation made by the City of London Corporation before the meeting of the Planning Commission for the agreement on the proposed ideas.

Local authority planning officer Peter Rees said: "Broadgate is defined by the quality of its open spaces which have been critical to its lasting appeal amongst the City community”.

The Chief Executive of the British Land Company, Mr. Chris Grigg said they would welcome the decision with open hands. He further added that it demonstrates "the importance of the current and future needs of occupiers for attractive, flexible and sustainable floor space”.