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City of London future view 2025
News

City of London unveils future skyline images ahead of MIPIM

4 March 2025

The City of London Corporation has released new CGI images visualising the Square Mile’s future skyline, featuring all approved and resolved-to-approve developments over the next 10 years. The images were published ahead of MIPIM, Europe’s largest real estate conference, where the Corporation will promote investment opportunities in the City. (more…)

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The Round Foster + Partners Courtyard
News

The Round, Foster + Partners’ design for a vacant brownfield site in Blackfriars

17 January 2025

Developer Hines has revealed new CGI images of The Round, a £2 billion, 1 million sq ft mixed-use development in Blackfriars, designed by architects Foster + Partners. The project will regenerate a brownfield site that has been vacant for 20 years, delivering 433 homes (40% affordable), 800,000 sq ft of office space, and 20,000 sq ft of cultural and educational facilities.

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City of London Gracechurch View
News

Sustainable office building approved in the City of London

11 February 2025

The City of London Corporation has approved a 33-storey, 50,000 sqm sustainable office building at Gracechurch and Fenchurch Street. It will substantially reduce its carbon footprint by retaining and reusing the existing structure and materials. The project enhances connectivity, supports Leadenhall Market’s regeneration, and includes cultural spaces with a rooftop viewing area. (more…)

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News

Savills reports London office market resilience in 2024 amid falling supply and record rents

11 February 2025

According to Savills, take-up in Greater London and the South East reached 2.7 million sq ft in 2024, 4% below 2023 levels and 8% below the five-year average, with sentiment impacted by the Autumn Budget.  Availability fell by 15% to 12.9 million sq ft due to stock conversion and limited new development, while record-high rents were achieved in 16 submarkets as occupiers prioritized high-quality, sustainable office space. (more…)

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News

Bank of England reduces the Bank Rate to 4.5%

5 February 2025

The Bank of Enland's Monetary Policy Committee voted 7–2 on 5 February 2025 to reduce Bank Rate by 0.25 percentage points, to 4.5%, citing continued progress on disinflation but persistent inflation risks. CPI inflation was 2.5% in Q4 2024, is forecast to rise to 3.7% by Q3 2025, and then ease toward the 2% target. The Committee will remain cautious and closely monitor supply, demand, and inflation developments to guide further decisions.

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The HILight view over the RiverThames, image credit Ghelamco UK
News

Construction begins on The HiLight, a £140M Battersea waterfront tower by Ghelamco UK

3 February 2025

Ghelamco UK has begun the main construction phase of The HiLight, a £140 million (GDV) regeneration project featuring a 24-storey residential tower off York Road on London’s Battersea Waterfront. Designed by Squire & Partners, the development includes 177 mixed-tenure apartments, commercial spaces, a public green, and a landscaped riverwalk. (more…)

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Kings Road Park Fulham Pair of towers
News

Foster + Partners’ King’s Road Park design secures planning approval

24 January 2025

St William, a Berkeley Group company, has secured detailed planning permission for phase four of the King’s Road Park masterplan, featuring 357 new homes, 1.9 acres of new parkland, and a restored Grade II* listed gasholder. Designed by Foster + Partners, the development includes two slender residential towers (28 and 38 storeys) and a seven-storey podium, integrating communal spaces and green areas. (more…)

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Aroland DBOX 1 Undershaft Aerial City Cluster, Dusk.jpg
News

City of London Corporation approves Square Mile’s tallest tower

13 December 2024

The City of London Corporation has approved plans for 1 Undershaft, a 74-storey (309.6m) office tower, set to be the tallest building in the City, located between the Gherkin and Leadenhall Building. Developed by Aroland Holdings Ltd and designed by Eric Parry Architects, the project will provide 154,156 sqm of Grade A office space, a 1,000 sqm public viewing gallery and education space in partnership with the Museum of London, and a 2,500 sqm elevated podium garden with cultural and retail amenities. (more…)

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CGI aerial view of the site by dusk
News

Earls Court 7.5 million st ft masterplan unveiled for 40 acre site

17 September 2024

The Earls Court Development Company (ECDC) has submitted a 7.5 million sq ft masterplan to transform the long-empty 40-acre Earls Court site into a global destination with 4,000 homes, 2.5 million sq ft of workspace, and cultural venues, all powered by a zero-carbon energy network.

The £1.2 billion project, supported by Delancey, APG, and Transport for London, includes 20 acres of biodiverse parks and gardens with over 1,000 trees, new squares, and green streets. Phase One, set to begin in 2026, will deliver 1,500 homes, commercial spaces, and cultural venues. The masterplan has received strong local support, emphasizing innovation, sustainability, and community engagement.

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45 Beech Street EC2
News

City of London approves a co-living retrofit scheme at Beech Street EC2

10 September 2024

The City of London Corporation’s Planning Applications Sub-Committee has approved a co-living development at 45 Beech Street, also known as Murray House, delivering 174 private rental units with communal amenities and landscaping.

The building will be partially demolished and extended, featuring sustainable elements such as natural ventilation and a potential district heating network link. An off-site affordable housing contribution of over £8.5m has also been agreed.

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BrentCrossTown AtDusk with ClaremontPark inf oreground RelatedArgent
News

New development to create 300 Co-living units at Brent Cross Town

5 August 2024

Related Argent has announced a £100m (GDV) co-living development at Brent Cross Town in partnership with Halcyon Development Partners and DTZ Investors' Folk Co-living brand. This will be the first co-living project in the London Borough of Barnet. Located near the new high street, Merchant Street, and the main public space, Neighbourhood Square, the development is a 3-minute walk from Brent Cross West mainline station. (more…)

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News

Knight Frank data shows a 50% fall in offers on London new homes in the run-up to the General Election 2024

14 August 2024

Data by Knight Frank shows that following an improvement in the Spring of 2024, offers made on new homes in London fell by 50% in June and July 2024. Recent data indicates an improvement over the last few weeks.

According to Knight Frank, the best-selling schemes in London include One Park Drive (completed in 2022) and 10 Park Drive (completed in 2020) in Canary Wharf, where only 56 out of 830 private units are available. (more…)

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News

Halifax House Price Index shows an annual increase of UK house prices by 2.3% in July 2024

7 August 2024

In July 2024, the  Halifax House Price Index showed that UK house prices increased by 0.8%, on a monthly basis, resulting in an annual growth of 2.3%, the highest since the start of the year. The average house price is now £291,268, up by over £2,200 from the previous month. London property averaged £536,052, up 1.2% compared to last year.

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News

Bank of England cut base rate from 5.25% to 5%

1 August 2024

The Bank of England's Monetary Policy Committee (MPC) voted by a majority of 5 to 4 to reduce the Bank Rate from 5.25% to 5%. Four members preferred to keep the rate at 5.25%. Inflation was at 2% in May and June 2024 and is expected to rise to 2.75% in the second half of the year and then return to the 2% target again.

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City Corporation Long Lane hotel
News

City Corporation approves new hotel between the Museum of London and the Barbican

13 June 2024

The City of London Corporation has approved the redevelopment of two office buildings between the future Museum of London and the Barbican to create a new hotel. The buildings at 1-8 Long Lane will be combined into a 9-storey, 128-room hotel, with 10% provision for disabled access, contributing to future visitor demands. Retail spaces, urban greening and public art installations will form part of the development.

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Hines 18 Blackfriars Road London
News

Hines and architects Foster + Partners to create a 1 million square feet mixed-use destination at Bankside, London

13 April 2024

International developers Hines have secured approval from Southwark Council for a new office and residential development at 18 Blackfriars Road on a 2-acre site that has been undeveloped for 20 years. The buildings, designed by architects Foster + Partners, are intended to be fossil fuel-free, 100% electric and Net Zero carbon in use, with 95% of the heat requirement served by ground source heat pumps. (more…)

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Park Royal Asda Barrat London
News

Mixed-use redevelopment of the Asda site in Park Royal creating a new town centre

13 May 2024

The retailer Asda has partnered with developer Barratt London to redevelop the brownfield site which currently houses the Park Royal superstore, creating a new town centre at the heart of the Old Oak and Park Royal Development Corporation major regeneration area. Subject to planning, the project will feature a 60,000 sq ft Asda superstore and 1,500 new homes, of which 500 will be affordable. The scheme aims to provide space for new retail units, restaurants, health and wellness facilities, high-quality public realm space, and significant biodiversity gains.

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1Mayfair,WavertonStreetfacade,ImageCreditCAUDWELL
News

Cauldwell’s 1 Mayfair 300,000 sq ft residential scheme

23 April 2024

Developer Cauldwell's 300,000 sq ft, 8-storey luxury residential scheme, with facades onto South Audley Street, Hill Street and Waverton Street in Mayfair, W1, is due to be completed in Q4 of 2025. Construction of the £2bn GDV project, occupying half a city block, commenced in 2017.  Designed by architects Robert A M Stern, the building comprises 24 residences, including lateral apartments, penthouses and townhouses, and offers services typically associated with 5* hotels such as a health spa and swimming pool. Image of Waverton Street facade by Cauldwell

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News

Bank Rate maintained at 5.25%

9 May 2024

The Bank of England's Monetary Policy Committee (MPC) voted by a majority of 7-2 to maintain the Bank Rate at 5.25%. Two members preferred to reduce the bank rate by 0.25% to 5%. Twelve-month CPI inflation fell to 3.2% in March from 3.4% in February. Monetary Policy will remain restrictive for sufficiently long enough to allow inflation to return to the 2% target.  

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News

Nationwide indicates a 0.4% monthly drop in UK house prices in April 2024

1 May 2024

According to Nationwide, UK house prices fell 0.4% in April 2024 after considering seasonal effects, slowing the annual rate of increase from 1.6% in March 2024 to 0.6% in April 2024. House prices are now 4% below the all-time highs of summer 2022. 

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News

Savills Q1 2024 research shows first signs of recovery for prime outer London homes

25 April 2024

According to research by Savills, prime residential property values in outer London increased by 0.8% in Q1 of 2024. The strongest performers were houses in Battersea, Clapham, Ealing, Fulham and Victoria Park. Prime central London property prices increased by 0.1%, the first increase since mid-2022. Sales volumes across all residential properties in London are 15% above pre-pandemic levels and 24% up on last year. 

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News

Oxford Street upgrade moves to the next phase

9 January 2024

The £90 million upgrade to Oxford Street, London W1 received support from 2/3 of residents, businesses and visitors who took part in a consultation.  The scheme proposes a more attractive street with 40% more footway space, and improved seating, lighting, signage, trees and planting.

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Hill House City of London Corp 2 copyrightWAX
News

City of London Corporation approves office scheme at Little New Street EC4

9 April 2024

The City of London Corporation has approved the Hill House office scheme, which will deliver over 57,000 sq m of grade A office space to accommodate around 3,000 employees at 1 Little New Street EC4A. As part of the scheme, the Shoe Lane Library will be relocated from the basement to ground level. Additionally, the scheme involves planting 28 street trees, delivering a 500% biodiversity net gain for the area, and retaining over 90% of the existing structure. Image ©WAX.

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News

Mayor of London’s vision to deliver 36,000 homes and 55,000 jobs at the Royal Docks

7 March 2024

Over £2bn of public and private sector investment is planned at Royal Docks delivering 36,000 homes and 55,000 jobs. This is part of a wider regeneration delivering 129,300 homes at development areas including London Riverside, Isle of Dogs, Thamesmead and Canada Water. The Royal Docks played an important role in the capital's economy from the mid-1800s until it declined in the 1960s and 1970s. It now forms one of the largest development regeneration areas in London.

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News

Bank of England holds rates at 5.25%

1 February 2024

The Bank of England's Monetary Policy Committee (MPC) voted by a majority of 6-3 to keep the Bank Rate at 5.5%. Two members preferred to increase the rate by 0.25% and one preferred to reduce it by 0.25% to 5%. Twelve-month CPI inflation fell to 4% in December 2023 and is now expected to fall to the 2% target in the second quarter of 2024, but increase again in the third and fourth quarters.

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City of London 65 Greham Street Aldermanbury
News

City of London approves major retrofit scheme at 65 Gresham Street EC2

14 January 2024

A mixed-use retrofit scheme at Gresham Street EC2, which will retain approximately 70% of the building's existing structure, has been approved by the City of London Corporation. The project includes landscaped terraces and new retail spaces along Aldermanbury, within walking distance of Liverpool Street station, currently the busiest station in the UK. City of London Corporation

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News

Savills research highlights challenges for developers

18 January 2024

Savills 'Market Pressures' report concludes that London developers face a challenging market with a 41% decline in new build sales below £1,000psf in the past year. Private starts on-site are now 60% below the 2015 peak. The end of Help to Buy and higher interest rates contribute to this decline. Current new home deliveries at 34,985 are just 41% of housing needs, pointing to a challenging future. Prospects for improvement hinge on a predicted interest rate drop in mid-2024. Savills

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News

Bank of England holds the Bank Rate at 5.25% for the third consecutive time

14 December 2023.

The Bank of England's Monetary Policy Committee (MPC) voted 6-3 to maintain the Bank Rate at 5.25% for the third consecutive time. Three members voted to increase it by 0.25% to 5.5%. 12-month CPI inflation fell from 6.7% in September to 4.6% in October. 

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The Cascades at Earls Court - CGI. Image courtesy of ECDC
News

Updated masterplan for Earls Court

15 November 2023.

The Earls Court Development Company's updated plans for the 40-acre former Earls Court Exhibition Centre include 4,000 new homes, 35% of which are affordable. The development will feature 300,000 sq ft of retail, dining, leisure and cultural spaces, along with 2.5 million sq ft of workspace. Gardens and open spaces account for 60% of the total area. 

The new development aims to surpass the net-zero requirement, creating one of the UK's largest zero-carbon energy-sharing networks and setting a zero operational carbon target. Additionally, the plan involves planting a thousand trees will be planted and designing routes that prioritise walking and cycling, with connections to the surrounding three stations. CGI of The Cascades, a terraced landscape and water feature at Earls Court, by ECDC.

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55-65 Old Broad Street planning November 2023 street
News

Planning approval for 23 storey mixed-use building at Old Broad Street EC2 facilitates restoration of the Bishopsgate Bath House

21 November 2023.

The City of London Corporation has approved plans for a 23-storey mixed-use building at 55-65 Old Broad Street EC2, which will facilitate the restoration of the Grade II-listed Bishopsgate Bath House, opening it to the public. The existing structure of 65 Old Broad Street will be largely retained and refurbished, rather than redeveloped, substantially reducing the carbon footprint over the building's lifespan.

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News

Bank of England maintains Bank rate at 5.25%

2 November 2023.

The Bank of England's Monetary Policy Committee (MPC) voted 6-3 to maintain rates at 5.25%. Three members voted to increase the Bank Rate by 0.25% to 5.5%. Twelve-month CPI inflation fell to 6.7% in September, well above the 2% target, but is expected to continue to fall sharply to 4.75% in 2023 Q4, 4.25% in 2024 Q1, and 3.75% in 2024 Q2, and to the 2% target by the end of 2025.

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City of London skyline 2030
News

The City of London skyline by 2030

2 November 2023.

The City of London Corporation has release images of how the Square Mile's skyline will look by 2030. The images include major developments that have been approved or are resolved to be approved in the last year. Most of the tall buildings are located on the east side of the Square Mile.

A report by Arup and Knight Frank show the need for an extra 1.2m square feet of office space in the city by 2040. (more…)

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News

Savills reports 39% decline in residential development land transactions in the UK in the third quarter of 2023

26 October 2023.

The Savills third-quarter 2023 report on residential land in the UK reveals a 39% decrease in transactions, fewer sites entering the market, and a 22% decrease in planning consents in England. The sites in highest demand are those ready for immediate construction.

Residential land values in Central London have fallen by 8% over the 12 months leading up to September 2023, and in Outer London, the decline is even steeper at 15.6% during the same period. (more…)

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Mark Lane EC3 3XN City of London
News

City of London Corporation grants planning for 215,000 sq ft of office space at Mark Lane EC3

The City of London Corporation has granted planning permission for a new development, 'The Mark', designed by Danish architects 3XN, for Hobart Partners and PineBridge Benson Elliot. The new building at 47 and 50 Mark Lane, London, EC3, will offer 215,000 sq ft of office space and 14,000 sq ft of cultural, food & beverage, and retail space. The building is designed to a high environmental standard to contribute to the City Corporation's aim of achieving a Net Zero Square Mile by 2040 and aims to be sympathetic to the Tower of London World Heritage Site nearby. (more…)

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Ferry Island Phase 2 Heart Of Hale Credit Related Argent
Apartments | Commercial | News

Final phase of Heart of Hale development in North East London

Related Argent has commenced the final phase of Heart of Hale, the £600m (GDV) North East London regeneration scheme at Tottenham Hale. The final phase comprises 1 and 2 Ferry Island and is designed by architects Alford Hall Monaghan Morris. In total, the scheme will deliver 1,032 market sale, affordable and Build-to-Rent homes, over 7 buildings. There will be a major new pedestrian civic space with retail and commercial spaces, including shops, cafes, leisure and offices, lining the main square.

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Plot 12, Brent Cross Town visualisation
Apartments | Commercial | News | Retail

Main structures of first two residential buildings at Brent Cross Town are now complete

25 September 2023

Brent Cross Town is one of the largest regeneration projects in Europe, with the 180-acre site expected to deliver 6,700 new homes, having a GDV of £8bn. The project is a joint venture between Related Argent and Barnet Council. The main structures of the first two residential buildings, Plot 12 and The Delamarre are now complete. A new station, Brent Cross West, will open at the end of the year and connect to Kings Cross with a journey time of 12 minutes. Seven parks will serve the area, the first of which, Claremont Park, opened in 2022.

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News

Bank of England holds rates at 5.25%

20 September 2023

The Bank of England's Monetary Policy Committee (MPC) voted by a majority of 5 to 4 to maintain the Bank Rate at 5.25%. Four of the members voted to increase the rate to 5.5%. The 12 month CPI inflation was 6.7% in August down from 7.9% in June. 

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News

Savills report on £5 million-plus residential sales in London

14 September 2023

Savills research reports that 240 properties worth more than £5 million were sold in the first half of 2023. Although this is 21% lower than the first half of 2022, the sales are 45% above the first-half average between 2017 and 2019. Savills research also indicates that prices in prime central London remain 18% below their peak in 2014.

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News

Bank Rate increased to 5.25% in August

3 August 2023

In the August meeting of the Bank of England's Monetary Policy Committee (MPC) the members voted by a majority of 6-3 to increase the Bank rate by 0.25% to 5.25%. Two members preferred to increase the rate by 0.5% to 5.5% and one preferred to leave the rate unchanged at 5%. Twelve month CPI  fell from 8.7% in May to 7.9% in June.

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News

UK Bank Rate increased from 4.5% to 5%

22 June 2023

The Bank of England's Monetary Policy Committee (MPC) voted by a majority of 7-2 to increase rates by 0.5 percentage points to 5%. Two members preferred to leave the rates unchanged at 4.5%. Inflation measured by Consumer Price Index (CPI) was 8.7% in May, unchanged from the April figure. The MPC will adjust rates to return inflation to the 2% target. 

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News

Bank of England increases interest rate to 4.5%

11 May 2023

The Bank of England's Monetary Policy Committee (MPC) voted by 7-2 to increase the Bank Rate by 0.25% to 4.5%. The two members that voted against the rate rises preferred to maintain the rate at 4.25%. The Consumer Prices Index (CPI) inflation was 8.7% in the 12 months to April 2023, which is down from 10.1% in March.

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News

Nationwide HPI points to a rise in house prices after seven consecutive falls

2 May 2023

The Nationwide House Price Index showed that annual house price growth was -2.7% in April, however the monthly figures showed a 0.5% increase. This is the first rise after seven consecutive declines. 

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