The City of London Corporation has released a new CGI visualising how the Square Mile’s skyline is expected to look in around six years’ time, once the latest wave of approved and under-construction towers are complete. The projection follows a record year for planning approvals in 2025, with more than half a million square metres of office space granted consent. With 2026 already marking the busiest start to a year in seven years for planning activity, the City’s development pipeline remains firmly in growth mode.
- More than 500,000 square metres of office space was granted planning permission in 2025
- 2026 has recorded the busiest start to a year in seven years for planning submissions and decisions
- 1 Undershaft and the Gracechurch Street schemes will add over 200,000 sq m of space
- City Core vacancies are falling, prime supply is tight, and leasing is at its strongest since 2019
Original article source: BDCMagazine
The granted area of office space for development reflects conviction. When 2026 is already the busiest start to a year in seven years, it suggests that investor and occupier confidence has carried forward.
Falling vacancies and tightening prime supply reinforce that point. Demand is concentrating around best-in-class buildings, while leasing activity at its strongest since 2019 shows that occupiers are committing again with intent. The market is not expanding indiscriminately – it is upgrading.
The addition of over 200,000 square metres from 1 Undershaft and the Gracechurch Street schemes will reshape the skyline, but it will also raise the standard of supply available. In a market where quality drives performance, that matters.
This is a reminder that the Square Mile remains a core global office market. Cycles adjust and supply evolves, yet sustained planning activity, active construction and firm leasing demand lead to a market building for the next phase.
