City of London

City AM reports that The Lord Mayor of the City of London Alastair King urged Prime Minister Kier Starmer to boost trade and growth in the City, in a speech given at The Lord Mayor’s Banquet on 2nd December.

Co-star reports that vacancy rates across London’s most sought-after submarkets are a near record lows in the newest offices, reports Knight Frank. Availability in new office buildings offering what Knight Frank calls “best-in-class tenant experience and sustainability credentials” have fallen to 0.3% in the West End Core of Mayfair and St James’s, and 0.5% in the City of London.

BBC News reports that Deputy Prime Minister Angela Rayner is to have the ultimate say on proposals for a 43-storey tower block near Grade 1-listed Bevis Marks Synagogue. The application is due to go to committee on Friday 13th December.

Co-star reports that Singaporean developer Hoi Hup Realty has submitted a planning application to the City of London for a major office development on High Holborn.

Co-star reports that The Kirsh Group has signed insurance giant Allianz to take all of the space formerly occupied by co-working group We Work at 15 Bishopsgate for its City headquarters.

Co-star reports that Aviva Investors has begun an initial public consultation on proposals to redevelop 130 Fenchurch Street with a major office-led tower scheme in the eastern cluster of the City.

City of Westminster

BBC News reports that Deputy Prime Minister Angela Rayner granted permission on 5th December for Marks and Spencer to demolish and redevelop its flagship store in London. Westminster City Council originally approved M&S’s plans to tear down Orchard House, an Art Deco building, and replace it with a modernised shop featuring a new café, offices and a gym in 2021. But Michael Gove, then communities secretary, launched an inquiry and eventually blocked the proposals. However, the High Court ruled that Mr Gove had misinterpreted the national planning policy framework and “erred in law”.

Co-star reports that Criterion Capital has secured a £65 million loan facility with Coutts to refinance Hotel Indigo in London’s Leicester Square. The 112-room Hotel Indigo has a rooftop bar, a restaurant, and shops on the ground floor. With the completion of this refinance, Criterion said it can now focus on the expansion of its Zedwell brand.

BENews reports that Derwent London has acquired the remaining 50% stake in its proposed 50 Baker Street scheme from JV partner Lazari Investments for £44.4m in a deal reflecting a 4.2% net initial yield. Resolution to grant planning consent for a circa 240,000 sq ft office-led scheme, which is nearly double the existing floor space, was received in August 2024, and detailed design work is already underway.

Building Magazine reports that architects Stiff + Trevillion have unveiled the first detailed images of its plans to overhaul the BBC’s Maida Vale Studios for film and music moguls including Hans Zimmer, who bought the studio from the BBC.

Building Magazine reports that DSDHA’s plans to refurbish and extend a large office block in the heart of the West End have resurfaced six years after the original plans were granted planning approval. Edge and Mitsubishi Estate took over the Shaftesbury Avenue scheme originally developed for Almacantar.

Tower Hamlets

BBC News reports that Tower Hamlets councillors voted unanimously to reject the scheme at Royal Mint Court, arguing it could present a security risk due to the size of the protests it could attract. The council’s verdict is advisory, not binding, as the power to formally approve or reject the proposal has been taken out of their hands by the government.