The City of London Corporation’s planning and transportation committee has approved the local plan for the Square Mile, which could see more than 1.2m sq m of additional office space delivered by 2040.
Subject to the approval of the policy and resources committee and Court of Common Council in the coming weeks, the ‘City Plan 2040’ will be published for public engagement, before being sent for consideration to the secretary of state.
The City Plan 2040 seeks to: power a growing, vibrant and competitive economy, with more than 1.2m sq m of additional office floorspace delivered by 2040; transform the Square Mile into a seven-day-a-week cultural and leisure destination for everyone; and ensure the City is a highly sustainable place to do business, with a net zero Square Mile by 2040.
Shravan Joshi, chairman of the City of London Corporation’s planning and transportation committee, said: “The City of London is like nowhere else on earth. A global economic powerhouse, and an ancient city, a centre of collaboration and innovation for the hundreds of thousands of people who work here, as well as a destination for visitors and tourists who come to experience our unparalleled culture and heritage.
“The City of today has enormous strengths but, like all successful places, it needs to adapt, to change and to grow. The City Plan 2040 will help to shape the built environment in ways that rise to the challenges of our time while making the most of the many strengths of the Square Mile.”
A public consultation on the City Plan 2040 will be launched in the spring, with an examination in public – carried out by an independent planning inspector – following later in 2024.
