The i9 building on Railway Drive (pictured above) will provide 50,000 sq ft of Grade-A office space for a national or regional headquarters for a major business once completed in 2020.
The scheme follows the successful i10 complex on the opposite side of the road, which was fully let within nine months of its doors opening.
"i9 was always envisaged to satisfy that demand, and it is great news that official planning approval has now been granted,” said councillor John Reynolds, cabinet member for city economy at City of Wolverhampton Council.
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"We want this building to become the design and quality benchmark for future developments in the city and to demonstrate our ambition for the city centre.”
Steve Parry, managing director at Ion, added: “The i10 development has already proven that we can attract new occupiers to Wolverhampton and the state-of-the-art transport links of the interchange will be a major attraction for those new occupiers."
The council and property developer Ion selected Glenn Howells Architects’ design for i9 as the winner from a strong field of 10 architects and urban design practices.
“The design has been developed to be sensitive to neighbouring landmarks such as the Chubb Buildings and through considered detailing and the use of high-quality materials, it will become a contemporary addition to Wolverhampton's historic family of red brick, Victorian buildings,” said Fraser Godfrey, senior architect at Glenn Howells Architects.
“It is set to house restaurants and a business lounge on the ground floor of the building as well as a rooftop amenity space, with panoramic views towards the city centre conservation area and interchange."