Balancing office investment in the City of London with the protection of heritage

Image: CGI of future City of London skyline, showing view of towers lining Bishopsgate and the Shard in Southwark - courtesy of Didier Madoc-Jones of GMJ for the City of London Corporation

Future Cities Forum will be discussing the challenges and opportunities in developing the brand of the City of London, through the commissioning of tall buildings at its 'Sustainable Cities' discussion event this month.

The Corporation of London's City Surveyor, Paul Wilkinson, will be joining British Land, Mace Group, Pilbrow & Partners, Dutch developer EDGE, LDA Design, Ridge and Partners and Grimshaw among other contributors at our forum hosted by EY in London. This will be followed by our discussion event hosted by the Tower of London in May, where questions around the protection of historic buildings will be asked.

The demand for new office space continues and the City of London Corporation has revealed a new ‘City Skyline CGI’ showcasing what the Square Mile’s tall buildings cluster will look like in around six years’ time.

Created by Didier Madoc-Jones of GMJ, the computer-generated images show what the City of London’s financial district will look like from above, once all of the buildings that have either been granted planning permission, or are already under construction, are completed. The CGI offers a new perspective over the City and reflects a record year of planning approvals in 2025.

Will there be consequences for heritage in the City, will the new buildings over-shadow those of earlier centuries, that lend so much to much needed tourism? Will place-making be made more difficult and how will the drive for the 24-hour 'Destination City' be helped or hindered?

The City Corporation has admitted it has been one of the busiest starts to the year in the last decade, in terms of planning application submissions and decisions, with an 84% increase in planning applications, and is keen for developers to continue to invest.

It says:

'CBIU engagement with prospective investors and developers is key to fully realising the Square Mile’s growth potential and, where required, unlocking capital to deliver these planning approvals and de-risking delivery through forward funding, pre-let support, and strategic alignment with office occupier demand.

'Despite industry headwinds, over half a million square metres of office space was granted planning permission in the City in 2025, equivalent to more than ten ‘Gherkins’ with around half of this amount already under construction. It means the Square Mile will remain a hive of building activity in the years ahead, with significant projects such as 1 Undershaft already underway, and with 85 and 60 Gracechurch Street starting imminently, altogether contributing over 200,000 square metres of commercial space, alone.

'With 30 major commercial schemes currently under construction and demand for high quality workspace continuing to outstrip supply, the City is entering the next phase of growth from a position of strength. New development activity is reflecting both long term confidence in London’s role as a global financial and professional services centre, and growing demand for sustainable, Grade A office space from international occupiers.

However, The Standard newspaper reported last month:

'The increasing number of skyscrapers being approved and built in the City has, however, led to repeated concerns over potential encroachment on the Tower (of London). In 2024 the Local Democracy Reporting Service (LDRS) revealed how UNESCO had requested a State of Conservation Report by the UK Government on the effects of tall buildings on the Tower.

'An Executive Summary published on the UNESCO website appeared to support the City of London Corporation’s clustering of skyscrapers in defined locations, writing the approach is “in line with the direct recommendation from the World Heritage Committee in 2007 and this policy approach has not changed”.

'A subsequent Technical Review by ICOMOS, a conservation body advising UNESCO, however, featured a number of recommendations indicating further action may be required. These included that the Government should call-in the approvals of two major schemes, 1 Undershaft and 70 Gracechurch Street, and that the draft City Plan 2040 undergo a “drastic revision”.

'ICOMOS is not the only body to raise concerns about the draft plan. Historic England and others, including Historic Royal Palaces which manages the Tower, have also publicly aired their opposition to elements they fear will negatively impact the City’s heritage assets.'

Image: Walbrook Square, City of London with the Mansion House on left rear and Sit Christopher Wren's St Stephen Walbrook with OMA's New Court (Rothschild & Co) behind