Good morning everyone. Thank you to the CPA for hosing us all, and for your Delivering Destination City report that will soon be published. Let me set up this morning with a few words.
And what a fitting venue. One Leadenhall really sums up what we’re all here to talk about: a building that makes a statement, respects its surroundings, will activate the street, and looks confidently to the future.
This is a big month for us at the City of London.
We’ve just finished the public examination of our City Plan 2040 – so this is a timely moment to take stock.
The Plan is our roadmap for the future: a bold, detailed vision for how the Square Mile evolves – as a place to work, yes – but increasingly as a place to live, visit, and enjoy.
And crucially, this isn’t just about lofty ambitions. It’s linked to Destination City – which is our growth strategy. Growth in investment, growth in people coming to the square mile for every purpose. And acknowledging that those two forms of growth are inextricably linked.
Planning, the built environment, and with partners such as you, is how we deliver it.
And being frank, I admit we haven’t always been precise enough in explaining what Destination City is. Whilst from a planning perspective we’ve done a good job of integrating it into our policies, for the rest of the Corporation it’s still early days, with a new team in place and some great work being done. That’s why we welcome your report, because it aligns with our own strengthening of guidance to you all.
The fundamentals are all there.
You all know the stats. We’ve approved more than 350,000 square metres of new office space in the last year. With a great pipeline.
That’s huge. And what’s even more telling is that two-thirds of the biggest schemes are already pre-let.
That says the market is buying in.
I’m about to travel to New York with Opportunity London – Jace Tyrell is here today who’ll be leading us out there. Thank you Jace for all your hard work in helping promote London and The City to international investors.
We’re seeing the City Core become the gravitational centre – not just for its towers, but because of what’s happening at ground level: green space, terraces, roof gardens, cafés, culture. It’s what I call “vibrancy by design.”
That’s why we’re supporting not just new floorspace, but everything that supports a great working and visiting environment – from free-to-access public terraces to viewing galleries that drew over a million visitors last year.
And of course, we’ve baked in sustainability. Our ‘retrofit first, not retrofit only’ policy is steering the City towards net zero – without slowing growth.
We also know it’s not enough to just build buildings. We need to build community.
And in a business district like ours, that means two things.
First, helping provide the things that businesses can’t easily deliver for themselves – things like health and wellbeing support, chaplaincy, creative and cultural amenities.
And second, using our convening power to bring partners together on things like volunteering, apprenticeships, and community networks. That’s what makes a place feel like somewhere people belong not just where they clock in. Things that bind a workforce to place.
We see that through the City Belonging project and the partnerships emerging across the Square Mile. That’s what makes this place special.
And yes, we’re doing all this in a part of London steeped in history. With 600 listed buildings, 48 churches, centuries-old street patterns, and some of the UK’s most recognisable views, heritage is something we deeply value.
But we’re also honest: it’s not always easy building in that environment.
We work closely – and respectfully – with heritage consultees and groups. Sometimes we don’t see eye to eye. That’s ok. But we believe strongly that heritage and modernity can work alongside each other. We want to work closely with them, but we will always robustly defend our positions when it comes to where growth should and must happen. That this is a living, evolving city.
That you can add to the story of the City – not overwrite it.
It’s a balance we hold ourselves to – and one we’ll keep making the case for.
So let me finish with this.
What we are trying to do as an authority is to ensure the city is economically vibrant, to bring inward investment, to ensure it’s a brilliant place for people to work, live, visit, so we earn the commute, we earn the council tax bill, we earn the holiday money.
Because, as we like to say.
Only the City can do this – and we are.
Thank you.
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