City planning applications up by 33%

The number of major planning applications submitted in the Square Mile during the Covid-19 pandemic was up by more than 30% on the three years before, new figures released today reveal. The City of London Corporation reported that 56 major planning applications were submitted in 2020, 2021 and 2022, compared with 42 from 2017 to 2019. Despite heightened levels of uncerainty, the corporation said developers and investors were submitting plans for new office buildings which reflect post-COVID ways of working. Policy chairman Chris Hayward said: “Global businesses continue to want a significant presence in the Square Mile, and United Kingdom-based and global developers and investors are flocking to provide a new type of highly sustainable, modern office space for these companies.” Last year, the corporation granted planning consent for almost 4m sq ft of office space, close to 150,000 sq ft of retail space, more than 500,000 sq ft of community, education and cultural spaces and five new pedestrian routes. It granted consent or resolved to grant consent for thirty major developments in 2022, which contributed more than £78m in public funding under Section 106 and community infrastructure levy agreements, including £19.6m for affordable housing. Major developments granted consent and reaching ‘resolved to grant’ status in the last two years include the corporation’s own plans for a new Museum of London at Smithfield, EC1, and for the new City of London Law Courts and Police HQ at Salisbury Square, EC4. Other projects reaching this key stage in the two years include River Court Properties’ 120 Fleet Street, EC4, Brockton Everlast’s 115-123 Houndsditch, EC3, Evans Randall’s Thavies Inn, EC1, a new HQ for law firm Hogan Lovells at 14-21 Holborn Viaduct, EC1, and towers at 50 Fenchurch Street, EC3, and Patrick Wong’s 55 Gracechurch Street and 70 Gracechurch Street, both EC3. Key criteria for granting planning permission in the City of London include: Outstanding sustainability credentials New buildings that are designed to be flexible, adaptable and reusable Buildings providing a new genre of informal, flexible workspaces Developments that are more permeable, providing new public routes Maximising urban greening Provision of health and wellbeing, including natural ventilation, roof terraces, greening and well-located staircases To send feedback, e-mail julia.cahill@eg.co.uk or tweet @EGJuliaC or @EGPropertyNews Image © Vuk Valcic/SOPA Images/Shutterstock See which agents are doing the most deals in the City Core submarket >>