London-based Foster + Partners has been awarded the Royal Institute of British Architects (RIBA) Sterling prize for its work designing the European headquarters of business news giant Bloomberg.

The 1.1 million sq ft, £1bn (US$1.3bn, €1.1bn) building, which stands in heart of the City of London above the reconstructed Roman temple of Mithras, is said to be the largest stone building in the district since St Paul’s Cathedral.

Described by RIBA president as a "monumental structure" which "raised the bar for office design and city planning" the Bloomberg headquarters incorporates a number of high-tech, sustainability-conscious innovations, such as aluminum pedals to regulate temperature and light, as well as breathable bronze fins to modulate airflow.

At the site’s launch in 2017, Alan Yates, technical director of BRE Global’s Sustainability Group said: "What sets the Bloomberg building apart is its relentless focus on innovation and its holistic, integrated approach to sustainable construction and design. Projects like these are really important in giving confidence to the industry to experiment."

The ten-storey facility also features two cycling rooms and a wellness centre.

2018 marks the third time Foster has garnered the Sterling accolade. Previously the firm was honoured in 1998 for designing the hangar of the Imperial War Museum in Duxford, and in 2004 for its work creating the iconic Gherkin.