CITY OF LONDON AGREES TRANSFORMATION OF FLEET STREET

PROPOSED REGENERATION OF THE FLEET STREET QUARTER TO BE SUPPORTED BY MAJOR IMPROVEMENTS TO THIS FAMOUS LONDON THROUGHFARE

The Fleet Street Quarter BID welcomes the City of London Corporation’s £9 million commitment to develop public realm improvements for Fleet Street. Marking a major step in the transformation of the Fleet Street Quarter, the project is exploring the potential to give more space and priority to people walking and wheeling, add seating and increase greening and biodiversity.

This public realm improvement project builds on the momentum and financial contributions from major development sites along this iconic London street. Over the next five years, 33,000 additional workers are expected to be attracted to the Fleet Street Quarter, as the area undergoes a radical renaissance.

Reshaping this vital and historic east-west route connecting the West End and the City, proposals intend to support the area’s wider development pipeline. An extensive development pipeline encompassing 34 new and refurbished schemes will deliver 5.5 million sq ft of Grade A office, retail and leisure space with a GDV of c.£5 billion by 2028.

Major developments on Fleet Street include the City of London Corporation’s Salisbury Square Scheme, delivering 18 state-of-the-art courts as part of a new court and tribunal building, and a new City of London Police Headquarters. Other major projects include the redevelopment of the former Daily Express Building at 120 Fleet Street, The Daily Telegraph Building and a deep retrofit of 65 Fleet Street. 

This project embodies the Fleet Street Quarter BID’s collegiate approach to development. Acting as the glue between the public and private sectors, the BID is prioritising a clean and green future for the area. Embracing cycling improvements and new green spaces aims to elevate the built environment’s contribution towards a thriving destination fit for future generations. Street upgrades will foster a climate resilient district, boosting the physical experience of the area.

Fleet Street Quarter BID has further bolstered the start of this project with an additional £500,000 of funding and brought together the local business community’s priorities and ideas into a public realm vision ‘Fleet Street Quarter’s Era of Change’.

The BID’s vision identified 34 public realm opportunities that could radically transform the area over the next decade and capitalise on Fleet Street’s extraordinary capacity for reinvention. The opportunities identified aim to deliver wider pavements, improve traffic movement and create safer crossings, and increase seating and greening to create a vibrant destination and improved experience for the growing workforce in the area.

For the City of London Corporation, these ambitions align with the proposals set out in its Healthy Streets Plan for the Fleet Street area. Fleet Street is also identified in the City of London Corporation’s Local Plan, City Plan 2040 and Transport Strategy as a key east-west route and in a Key Area of Change.

Phased implementation of these projects is scheduled for between 2025 and 2029, subject to approvals and further consultation on Fleet Street. For Fleet Street, this year will include work on traffic analysis and modelling and development of concept design options.

Lady Lucy French OBE, CEO of the Fleet Street Quarter BID: “Fleet Street is one of London’s most historic streets, at the heart of the Fleet Street Quarter. An essential gateway connecting the City and West End, these proposed upgrades aim to deliver vital change to accommodate our growing workforce and attract visitors to this vibrant western part of the City. This funding from the City of London Corporation will ensure Fleet Street remains an iconic London landmark for generations to come.

Creating a clean and green district is critical to the area’s next phase of transformation. The Fleet Street Quarter BID will continue collaborating with local stakeholders to ensure plans reflect the needs of our levy paying businesses and create a climate resilient district.”

Shravan Joshi, Chairman of the Planning & Transportation Committee, City of London Corporation: “We are pleased to be working in partnership with the Fleet Street Quarter BID to enhance the potential of the area and improve the experience of using Fleet Street. By rejuvenating these public spaces, the City of London Corporation continues to ensure the Square Mile’s appeal as a place to invest and do business, retaining our position as a global economic powerhouse.”