The Citys planning committee unanimously voted in favour of the plans today (11 February), five months after proposals were submitted on behalf of developer Stanhope and investor Ontario Teachers Pension Plan.The 132m-tall scheme includes the part-retrofit of a 23-year-old Marks & Spencers store and office building at 70 Gracechurch Street, north-west of the Walkie Talkie, to create 50,000m2 of office floor space.KPF's proposal also features a rooftop public gallery, garden terrace and cultural ground floor space. The scheme also reintroduces a pedestrian route through the site.AdvertisementThe scheme is a redesign of a 33-storey proposal approved in 2021. That scheme featured three linked forms containing 73,000m2 of office space and public viewing galleries on the upper floors and a food hall on the ground floor.The City of London approved the earlier scheme despite an objection from Historic England, which said the proposal at the south-west tip of the City Cluster could reduce the significance of both the Tower of London and St Pauls Cathedral.The heritage body added that overshadowing could negatively affect the future sustainability of Leadenhall Market.The AJ reported in April last year that KPF had begun consulting on revised designs after Hong Kong-based developer Tenacity sold the site in 2022 to retail estate giant Stanhope and investor Ontario Teachers Pension Plan.Unlike that design, the revised scheme retains the seven-storey building on the site, designed by BDP and completed in 2001. The block would have been flattened under the 2021 consent.AdvertisementKPF now proposes cladding the existing building in stone while cladding the office floors above in large glass panels and textured horizontal metal spandrels, according to consultation documents.A spokesperson for Stanhope and Ontario Teachers Pension Plan previously told the AJ that KPF's scheme was submitted following an extensive programme of engagement with the local community and City of London Corporation.They said: Our plans will deliver a truly sustainable building at 70 Gracechurch Street with the reuse and retention of substantial elements of the existing structure, which will minimise the carbon impact of redevelopment. There will also be exciting new cultural spaces and public routes around the site.Several consented schemes are being revised in the Square Mile. These include 3XNs plans for 60 Gracechurch Street, on the western edge of the emerging cluster of towers in the City, and Eric Parrys One Undershaft. Fletcher Priest is meanwhile working on proposals for a 40-storey tower neighbouring Foggo Associates' Can of Ham at 70 St Mary Axe.Completion is scheduled for 2032.