Out-Law News | 08 Dec 2011 | 3:55 pm | 1 min. read
The planning application, which has been prepared by Bloomberg with architects Foster & Partners, proposes an office-led scheme called Bloomberg Place. The application has been submitted to the City of London Corporation, which is displaying the blueprint at its planning office.
The application proposes a two- building scheme that would include 662,755 square feet of office space, according to an EGi report, and the buildings would be restricted to 10 storeys high as a result of height limitations imposed by a St Paul's viewing corridor.
The plans replace the consented development at Walbrook Square, which won planning permission in December 2007.
The larger office block will comprise 407,985 sq ft of office space, and will house all of Bloomberg's London operations. It will also include an 18,913 sq ft retail arcade lined with restaurants and shops which Bloomberg said will become a "dining and retail hub in this part of the City", according to EGi.
The second building will comprise 224,954 sq ft of office space, and will be developed speculatively for Bloomberg for its eventual occupation, but subleased initially. It will also contain 10,903 sq ft of retail space.
The development would be 169 feet high and the two buildings are planned to be linked by bridges at the second, foruth and sixth floors. As part of the proposed Bloomberg Place scheme, the 1960s reconstruction of the Temple of Mithras is to be re-sited "as close as possible" to its original location within the development site.
Bloomberg began consulting with stakeholders on early designs on 19 January this year. Since then the company has met with the City of London Corporation, Greater London Authority, English Heritage, Transport for London, London Underground and local residents.
Plans include a new entrance to Bank underground station as part of the development of the three acre site. The site is bounded by Queen Victoria Street, Bucklersbury, Walbrook, Cannon Street and Queen Street, in central London.
Bloomberg will pay £692,930 towards local services and infrastructure, which includes a £102,900 contribution towards public transport improvements, as part of a section 106 agreement under the Town and Country Planning Act.
The company is also required to pay a £2.8m contribution towards Crossrail, which would be reduced by 20% if construction is started before 31 March 2013.