First there was the Gherkin, then the Walkie-Talkie and the Cheese Grater. Now London is set to get a skyscraper known as the Tulip.

The City Corporation, which governs the City of London, approved plans for the new tower on April 2, around four months after British architects Foster + Partners revealed designs for the 305-meter (1,000-feet) edifice.

Its Planning and Transportation Committee voted 18-7 in favor of the project in the financial district, according to a statement.

However there are a number of planning conditions in place. These include "off-peak servicing to limit the number of vehicle deliveries at busy times, ticket sale restrictions during peak hours to avoid pedestrian congestion, accessible facilities for disabled persons, concessions for young children, students and senior citizens, and stringent internal and external security measures."

Planning Committee Chairman Chris Hayward said that the Tulip is a "truly unique visitor attraction" that will bring people into the city's financial district on weekends, with around 1.2 million visitors expected per year.

"This building has the potential to play an important role in realizing our vision of the Square Mile as a vibrant 24/7 city," he said in the statement.

Work on the building could begin by 2020 and finish in 2025. It will become the second tallest building in the British capital, and the whole of western Europe, after the Shard.