A record £5bn is set to be invested in the transformation of Fleet Street and the surrounding area over the next five years, according to a new report published today by the Fleet Street Quarter Business Improvement District (BID).
The BID area, which covers 43 hectares, will see 3m sq ft of new Grade A office space delivered across 34 new and refurbished schemes, including 120 Fleet Street, Peterborough Court/Daniel House and the new Justice Quarter at Salisbury Square.
‘The Future is Fleet Street Quarter’ report estimates that 25,000 additional workers will be attracted to the location once the new developments and public realm have been delivered. It cited the developments’ market-leading sustainability credentials and “unrivalled connectivity” as major draws.
Lady Lucy French OBE, chief executive of the Fleet Street Quarter BID, said: “This part of London has been reinventing itself for 2000 years. We, the people that work, live, play and invest here, are the custodians of its past and the curators of its future. This is a golden opportunity, a landmark moment. We are seeing the evolution of an area; an emerging, sustainable, inclusive hub for today and tomorrow. This is a remarkable renaissance; the reinvention and repositioning of the Fleet Street Quarter.”
Deputy Shravan Joshi MBE, planning and transportation chairman, City of London Corporation, added: “The Fleet Street Quarter is one of the few places left in London where you can really redevelop and reinvigorate a postcode. I would say it’s a once-in-a-generation opportunity. One of the things I am very mindful of is we don’t want to just build for today; we’ve got to be planning for tomorrow.”
