London is one of the most diverse cities in the world. It is home to some of the most important heritage assets in the UK, including the Tower of London, Palace of Westminster, and St Paul’s Cathedral. At the same time, it has some of the best modern architecture, such as the Shard and the Gherkin. It’s a tough challenge to balance protecting the history and allowing new developments. However, things could soon get easier in the Square Mile. Let’s have a closer look here, then you can rely on us if you need assistance with property investment in the City of London and other areas.

Proposals and delays

The City Plan 2040 published in 2024 set out an ambitious vision for the area. Central to this is the creation of a massive amount of new office space. It’s necessary to ensure London remains one of the most important business hubs in the world.

A key thing here though is the plan identifies two zones where skyscrapers could be built; Fleet Valley and the City Cluster. In the heart of the latter they could be up to 300m tall.

However, the plan drew some criticism. For one, there were concerns it would have a negative impact on heritage areas, particularly the Tower of London. Historic England even put forward an alternative plan with different height restrictions. Housing Minister Matthew Pennycook acted, introducing a direction earlier in the summer to re-examine the plans. We’ve now had a decision from independent inspectors. Speak to us about property investment in the City of London.

The decision

Most importantly, the inspectors found that the original plans, including proposed contours for different building heights, are “justified”. Critically, they said it is possible to build while also preserving the Tower of London. As a result, the plan can now get approval and work can get underway to deliver more offices in the City, including skyscrapers.

Significantly, the inspectors took the time to compare the original plans and the alternatives by Historic England. The key finding here was the alternative would provide a modest heritage benefit in some cases, but could not demonstrate a “materially greater level of protection”. At the same time, it would reduce the capacity of the developments and could harm viability. The downsides therefore outweigh any benefits.

What now?

It is now likely just a matter of time before the City Plan gets approval. The estimate is it could happen before the end of the year. This would open the door for high rise developments in the Square Mile. It could help deliver more jobs and economic growth.

Rely on us to help with property investment in the City of London

The next few decades could be incredibly exciting for the Square Mile. It could change the skyline in the city forever with two clusters of new skyscrapers. Even more, it could trigger other redevelopments, including housing.

If you have assets and want to arrange fantastic services, you can rely on Finefair Ltd. We’ve got a huge pool of experience, including property investment in the City of London and other areas. We can provide bespoke solutions to suit different needs, including guaranteed rent, HMOs, and more. Even better, we can adapt if you change strategy and invest in new assets.

So, contact us today and learn more about everything we can do for you.