Redevelopment of 22 Bishopsgate – Potential Acquisition of Land for Planning Purposes

Committee accepted the request to use its statutory powers. The report to committee is seeking approval in principle for the potential acquisition of land ¬†for planning purposes by agreement under section 227 (“S227”) of the Town & Country Planning Act 1990 (“TCPA”) enabling the operation of powers under Section 237 TCPA (“S237”) to facilitate the carrying out of redevelopment at 22 Bishopsgate (“the Site”).

The City Corporation resolved to grant planning permission for a scheme (‘The Development”) for the Site on 17 November 2015 under reference 15/00764/FULEIA. The Owners have advised that there is significant threat to progressing the scheme. There is and early need to place substantial pre-construction orders for materials and procure the main build contract in order to complete by March 2019 to meet projected demand during 2018/19. There are large number of affected owners who have rights of light interest and may wish to maintain actionable claims. There is therefore concern that the development programme is at risk due to the inability to settle remaining rights of light claims with the prospect that those with relevant interests may be able to able to pursue injunctive relief.