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 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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The March 2025 Auction House London property auction includes the following development opportunities.

A detached workshop on a 300 sq m plot of land on Bowmead, Eltham SE9 3NL, with development potential subject to consents. Guide price: £190,000+.

A detached building arranged as eight flats, with planning permission to extend, on Woodchurch Road, West Hampstead NW6 3PL. Guide price: £2m+.

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The March 2025 Savills auction features the following development opportunities:

A 0.22-acre site on Haymerle Road, Peckham SE15 6SB, with permission for 37 residential units and 7,280 sq ft of commercial space. Guide price: £3.5m.

A 96.22 sq m site on Reverdy Road SE1 5QD, with development potential subject to consents. Guide price: £200,000.

A 0.06-acre site to the rear of Spencer Avenue, Palmers Green N13 4TS, with lapsed planning permission for a two-storey building. Guide price: £145,000.

A single-storey, 2,317 sq ft former training centre on Giesbach Road N19 3DA, with development potential subject to consents. Guide price: £925,000.

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The 0.85-acre site at Monkhams Lane, Woodford Green, was previously a single dwelling known as Little Monkhams, which was largely destroyed by fire in 2007. Planning permission has been granted for the construction of three detached five-bedroom houses totaling 12,035 ft², with garages, landscaping, and amenity space. The site is located within the Monkhams Estate, 0.3 miles from Roding Valley Station (Central Line). Kingsbury are inviting offers in the region of £3,250,000 for the freehold interest.

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The Allsop March 2025 property auction includes the following development opportunities.

A freehold detached building on High Road, Bruce Grove N17 9JF, with planning permission for conversion into three flats over 2,142 sq ft. The guide price is £475,000+.

A detached building and garage on a 0.347-acre site on Alton Road, Roehampton SW15 4NJ, with planning permission to refurbish the existing building into six flats and construct two new cottages. The guide price is £1.75m+.

A detached house on Edgwarebury Lane, Edgware HA8 8LY, with planning permission to extend and convert into four flats, totaling 3,175 sq ft GIA. The guide price is £800,000+.

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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 Savills February 2025 property auction features a range of development and investment opportunities, including the following.

A student hall in Cricklewood Lane, NW2 2DQ, comprising 181 bedrooms, with a guide price of £10 million.

A development site in Western Road, SW19 2QD, with planning consent for a nine-storey building comprising 23 private dwellings, guide price £1.8 million.

An industrial site in Haymerle Road, Peckham, SE15 6SB, covering 0.22 acres with planning permission for 37 residential units and 7,280 sq ft of commercial space, guide price £3.9 million.

A warehouse in Elmgrove Road, Harrow, HA1 2ED, measuring 23,012 sq ft (GIA) on a 0.76-acre site, offering development potential subject to planning, currently let at £168,000 per annum, guide price £2.5 million.

A former training centre in Giesbach Road, N19 3DA, with redevelopment potential, comprising a single-storey, 2,317 sq ft building, guide price £1.125 million.

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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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