The Fleet Street Quarter BID has confirmed a GDV investment of up to £5 billion is set to be injected into the area by 2028.
The business improvement district, which represents some 359 businesses across a 43 hectare footprint of the western part of the City, stated that a pipeline of 34 new and refurbished schemes is in the works, covering commercial office space, retail and leisure projects.
Bosses say City workers and residents can expect ‘radical transformation’ in the area.
In a report titled ‘The Future is Fleet Street Quarter’, the BID outlines plans that include:
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The 539,000 sq ft of net office redevelopment of the former Daily Express buildings at River Court, 120 Fleet Street
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A new 525,000 sq ft ‘Justice Quarter’ at Salisbury Square being delivered by the City of London Corporation
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The 292,000 sq ft redevelopment of the former Goldman Sachs HQ at Peterborough Court, 133 Fleet Street
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Lady Lucy French OBE, Chief Executive of the Fleet Street Quarter BID, said: “This part of London has been reinventing itself for 2,000 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.”
There are four other BIDs in the Square Mile – The Culture Mile BID, Cheapside Business Alliance, EC BID, and Aldgate Connect BID.
There are more than 70 BIDs across the capital.
Deputy Shravan Joshi MBE, Planning and Transportation Chairman, City of London Corporation, described the regeneration project as a “once-in-a-generation opportunity”.
Shravan said: “The Fleet Street Quarter is one of the few places left in London where you can really redevelop and reinvigorate a postcode. 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.”
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