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.

City research highlights the need for 1.2 million square metres of additional office space by 2040, with current availability in new sustainable office buildings at just 0.5%. The City’s tallest office building, 22 Bishopsgate, is now fully let. Growth will focus on the City Cluster and retrofitting existing buildings while supporting economic expansion and sustainability. City of London Corporation

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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.

Designed to be 100% electric, fossil fuel-free, and Net Zero in operation, The Round features cascading green terraces, cycle highways, and pedestrian-friendly public spaces. It aims to be the UK’s first high-rise to achieve the WELL Community Gold Standard. Image © Foster + Partners.

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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. Led by Ontario Teachers’ Pension Plan and Stanhope Plc, it is set for completion by summer 2032.

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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.

Grade A space accounted for 75% of take-up in 2024, reflecting a strong flight to quality. Despite no deals over 100,000 sq ft, the market remained resilient, with continued demand for Prime Grade A offices driving rental growth.

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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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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. Apartments at The HiLight range from 538 sqft to 1,500 sqft, with prices starting from £620,000. Savills and JLL are joint sole selling agents. Completion is scheduled for Q2 2026, with sustainability-focused design elements earning FITWEL and EDGE certifications. Image credit Ghelamco UK

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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.

The project enhances connectivity between King’s Road and Imperial Wharf Station. The new community park, designed by Gillespies, will include a public square, walking routes, and children’s play areas, forming part of the six-acre open landscape network within the Fulham Riverside Regeneration Area, which will ultimately deliver 1,800 homes, including 600 affordable units. Image © Foster + Partners.

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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. Image of aerial city cluster including the proposed 1 Undershaft ©DBOX.

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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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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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