TRANSFORMING THE SQUARE MILE: City of London reveals new ‘City Plan 2040’

The City of London Corporation Planning and Transportation Committee has, today, approved the local plan for the Square Mile, known as ‘City Plan 2040’.

The Committee’s decision means that, subject to the approval of the Policy and Resources Committee and Court of Common Council in the coming weeks, the plan would be published for public engagement, before being sent for consideration to the Secretary of State.

City Plan 2040 has been in production for a number of years and has featured extensive public consultation during this time, as well as the production of a wide-ranging and detailed evidence base. It will set the planning and development policies and strategic priorities that will guide the growth of the Square Mile up to 2040.

The City Plan seeks to:

1. Power a growing, vibrant and competitive economy, with over 1.2m sqm of additional office floorspace delivered by 2040;

2. Transform the Square Mile into a 7-day-a-week cultural and leisure destination for everyone;

3. Ensure the City is a highly sustainable place to do business, with a net zero Square Mile by 2040;

4. Create an inclusive, accessible and healthy Square Mile where everyone feels welcome; and

5. Celebrate local heritage while re-shaping those parts of the City that have the most potential for growth and regeneration.

A public consultation on the City Plan will be launched in the Spring, providing an opportunity for all stakeholders to share their views, with an examination in public – carried out by an independent Planning Inspector – following later in 2024.

Chairman of the City of London Corporation’s Planning and Transportation Committee, Shravan Joshi, 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.”