Proposals for new skyscrapers for the Square Mile show that long term confidence is returning. There are currently plans for ten towers, more than in 2020 and 2021. These high rise properties would change the skyline in the city forever. However, they could become some of the most interesting investment properties in the City of London.

What are the plans?

All of the proposals are for buildings that will be at least 75m tall. Eight of them are in confidential pre-application phases so there are not many details. However, the sites are mainly in the eastern cluster of the area. As a result, they will spring up near current iconic skyscrapers such as the Gherkin (30 St Mary Axe), Cheesegrater (122 Leadenhall Street), and the Walkie Talkie (20 Fenchurch Street).

One project where there are some details available is for 55 Bishopsgate. There would be two towers here. The first would be 63 storeys tall, making it one of the tallest buildings in the City of London. There would then be a second 22 storey tower.

The 55 Bishopsgate project could have a difficult development cycle though. There have been formal objections already because of the height and impact on the skyline. Historic England in particular objects due to the impact on views of St Paul’s Cathedral. These views have protection so projects should not negatively influence them.

The City of London Corporation had a statement about the proposals. The chairman of the planning and transportation committee, Shravan Joshi, said they would look to safeguard historic buildings. It is important to remember here that London is a city with lots of history and heritage to preserve. So, projects need to provide real benefits to the area and the UK rather than just being for vanity.

Why are the plans good news?

Projects like this can be really good for a city. Firstly it showcases that there is more attention on investment properties in the City of London. There could be fantastic rewards for these investments, especially economic ones.

It is also a sign that the city is getting back to normal. Figures from TfL back this up. They said passenger journeys are up to 80% of the typical numbers. They will likely never get back up to full pre-pandemic numbers due to changes in how people work now, but it is positive they are up.

Projects like this are also good for the future of the city. There is already high demand Grade A office space. More and more businesses are looking to move to modern buildings that promote better staff wellbeing. This includes traditional companies you find in the City that specialise in finance as well as newer industries like tech, media, and education.

Are you thinking about investment properties in the City of London?

The great thing about investing in assets in London is they are available in all shapes and sizes. Landlords could start off with a single apartment or flat. Then at the other end of the scale there are massive skyscrapers for housing, offices, and a mix of uses. It gives investors lots of options.

At Finefair Ltd we provide some excellent services to help with residential investments. We can arrange schemes with local councils that can take care of tenancies, management, and more. Plus, they can include guaranteed rent for unbeatable financial security.

So, if you look at these investment properties in the City of London or other parts of the capital, speak to us. It would be our pleasure to help you choose a service.