The City of London Corporation has agreed to join the newly established Eastern Cluster Business Partnership, providing support and a focused approach for the ongoing regeneration of this key business area within the Square Mile.
As a significant land holder in the Leadenhall Estate, found at the heart of the tall building cluster, the City Corporation will be a funding partner for at least two years and have representation on its board.
The Business Partnership will, in the first instance, seek to engage with property owners and a number of occupiers who are keen to collaborate on key challenges facing the area, such as transport, freight consolidation and the local retail offer.
The area is undergoing significant change with current and future schemes set to deliver an additional 750,000sqm of new office space, enough for around 70,000 workers.
Tom Sleigh, chair of the City of London Corporation’s property investment board, said: “The City’s Eastern Cluster is a globally significant business location home to iconic institutions and architecture.
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“This partnership between key landowners and businesses offers a unique forum for collaborating on shared priorities and ensuring this area rises to the challenges posed by a growing workforce.
“The Eastern Cluster Business Partnership will further the emphasis on delivering sustainable options for the economic success and continued appeal of the area.”
In December 2019, the City Corporation’s policy and resources committee agreed a Business Improvement District (BID) strategy that supported the organisation’s involvement as property owner in voluntary partnerships where it has significant property assets.