Did you know that many of the greatest cities in the world developed because they are important for commerce? That is definitely the case for the City of London. Even today it is one of the most important financial and business districts in the world. As a result, it has a number of significant buildings that have a long, interesting history. Custom House is one of them. Interestingly, it could have a very bright future too thanks to new plans. We want to have a closer look at them here, then if you need help with estate management in the City of London or other services, you can rely on us.

The history

At one point in time, the City of London was the major location for products entering the UK. Even today it is the biggest port. So, the area needed facilities for all of the admin, including collecting taxes and duties.

Custom House was one of the most important buildings of its type from the 19th century onwards. It was a replacement for a neighbouring building from the 14th century. The property had cellars, warehouses, and offices, providing space for tax officers to do their work.

The building has a fantastic history and a wonderful design. In fact, it is Grade I because of the significance. If you walk along the Thames in the area, you won’t help but notice it for the size and beautiful details.

Sadly, HMRC left Custom House vacant in 2021. It was disappointing because they had signed a 175 year lease in 2001. Ultimately, Jastar Capital chose to purchase the building with an eye on redeveloping it. They had plans in 2020, but did not get approval at the time. Now, there are new proposals.

Redevelopment

As a top partner for investors in London, we keep an eye on proposals in different parts of the capital. It ensures we can continue to provide exceptional services such as estate management in the City of London.

The latest proposals for Custom House would be very interesting for the area. At the heart of the design is the creation of a luxury hotel with 179 rooms. The location would be exceptional in this regard, making it attractive for business travellers and tourists.

In addition to the hotel, the proposals include a spa, a cafe, event space, and dining space. There would also be space along the riverside and a route through the building to access it. Ultimately, it would deliver a number of fantastic new amenities for the area.

The architects behind the plans, Orms, said the proposals consider the fact this is “one of the most significant riverside sites in the City of London”. The current building is a vital cultural asset. As a result, they’ve done the designs with an eye on preserving the history and heritage while also revitalising the site.

It will be interesting to see if the project gets approval. The fact the initial plans failed is a bad sign, especially because the City of London Corporation said they would have refused them.

Would you like to try estate management in the City of London?

Finefair Ltd works hard to give investors the most reliable range of services. We have plenty of experience with things like guaranteed rent and managing different types of properties. Additionally, we can look at topics like HMOs and provide assessments of portfolios. If there’s a chance you could be making more money or saving on costs, we’ll help to find it.

So, get in touch today to discuss estate management in the City of London with us or any other topic. We’ll devise the perfect solution for you.