A £500m redevelopment plan for 55 Old Broad Street which aims to establish contemporary, eco-friendly work and retail areas received approval from the City of London Corporation on 20 November. The vote concluded with a 13-4 decision.
The revitalisation project for 55 Old Broad Street is set to transform it into a mixed-use development, featuring high-quality office spaces, artist studios, and cultural areas including Old Broad Street Studios and a Grade II listed Victorian Bath House.
Development Director at Landsec, Oliver Hunt, explained: “The workspace has been designed to meet the requirements of a range of occupiers, from companies in financial services, technology, legal and other professional sectors, to start-ups and small enterprises, who will have ring-fenced access to affordable space to suit their needs through discounted rents.”
Planning permission granted: 55-65 Old Broad Street delivers 30K sqm of A Grade office space, new pedestrian walkways, retail space, and will restore the Bishopsgate Bath House, with free-to-access culture and events space for the public.
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Despite the green light, concerns linger about the impact on London’s historic skyline, particularly London landmarks like St Paul’s Cathedral, which has actively opposed the approval of 55 Old Broad Street.
Professional blue badge tourist guide Susan Hadley said: “The cynical offer of refurbishing the Turkish baths does not take away the fact that this listed building will be dwarfed by yet another bland glass and steel building.”
A St Paul’s report stated: “The scheme would worsen an already harmful element of the setting of the cathedral. The proposals would also cause an erosion to the sky gap that is crucial to the City’s skyline, key views, and the significance of the Grade I listed Cathedral.”
Furthermore, when asked for additional comment a St Paul’s spokesperson said: “St Paul’s is regularly asked to comment on a range of planning applications, and engages in the statutory processes accordingly. In doing so, we are particularly conscious of our responsibility to maintain and protect views of the Cathedral from across the capital.”
In order to protect important parts of the London skyline the “St Paul’s Heights” rule was introduced in 1937, restricting high-rise development which would obstruct the view of St Paul’s and other historic buildings. There are a total of 13 vistas protected by the London View Management Framework.
Upon completion, the site is expected to offer 270,000 sq ft of flexible office space, significantly boosting employment capacity compared to the existing structure. This expansion could potentially create more than 2,500 new jobs, contributing £7.5m to local spending annually.
