Go-ahead for pounds 200m City offices

PILLAR PROPERTY has gained permission to develop a pounds 200m office building in Paternoster Square, by St Paul's Cathedral in London, the company said.

The development of Sudbury House, a joint venture between Pillar and General Electric Pension Trust, has been pre-funded by Prudential, and the completed investment will be held in their Life Fund. Subject to pre- conditions, the building, to be called Christ Church Court, is pre-let to Schroders. Planning consent for the scheme was granted on 9 June, said Pillar.