Nicknamed the Trellis for its visible structural steel cross-bracing, the new London skyscraper will soar to 305m, just above the recently approved 22 Bishopsgate tower at 278m, but a few metres below the Shard’s tallest steelwork point in London Bridge.

The existing Aviva tower in the City will be demolished to make way for the new Eric Parry-designed building, which will have a free public viewing gallery at the top and boast London’s highest public sky restaurant.

Singapore-based developer Aroland Holdings is behind the 73-storey landmark building, which at nearly 1m sq ft is expected to take around six years to complete.

Chris Hayward, chairman of the City of London’s committee, said the building showed that there was still a high level of investor confidence in the Square Mile after the European Union referendum.

“Over the next 30 years I expect that we will need to deliver office space for more than 50,000 extra workers within the Square Mile, and this development is important in reaching that end goal,” he said.

“I believe this building will play an important part in increasing London’s attraction as the world’s leading financial centre.”

At the top of the building will be the UK’s highest public viewing gallery, while an elevated office reception lobby will allow the public to walk freely beneath the skyscraper

How London will look at night once 1 Undreshaft and 22 Bishopsgate are completed