City of London's tallest skyscraper yet: the Pinnacle site on Bishopsgate will see building taller than the Gherkin and the Heron tower

The brand new building will be located at 22 Bishopsgate

The Gherkin in the heart of the City (PA)

Forget the Gherkin and the Heron tower – there’s about to be a new tallest building in the City of London after planners backed a 61-storey tower to rise from the stump of the abandoned Pinnacle scheme.

The brand new building will be located at 22 Bishopsgate, where it will eclipse the nearby Heron tower by some 150 feet, to become the tallest building in the City of London - the district that stretches roughly a mile either side of St. Paul's.

22 Bishopgate (Riverfilm Martin Richardson)

The City of London’s planning and transportation committee granted planning permission for the project, signaling the renewal of the Pinnacle site where construction ground to a halt after the financial crisis.

The existing property, first called the Pinnacle and later the ‘Helter Skelter’, has been left half-built since 2008. The building about to go up on the site will measure 912 feet, the tallest in the City of London but still smaller than the Shard, which at 1012 feet is the tallest in London.

Property investor AXA IM - Real Assets and Lipton Rogers unveiled plans in June this year to go ahead with the building and create offices, and leisure space including restaurants.

Anne Kavanagh, global head of asset management and transactions at AXA, said the building will provide a “high quality and environmentally friendly working environment for over 12,000 people”.