INDUSTRY NEWS

Two new sites get planning recommendation

Two new commercial property sites have been recommended for approval, Property Week has reported.

Plans by Stanhope, Schroders and the Clothworker’s Company for a development in Moorgate, designed by Allies &Morrison, were described as “a robust contemporary design” by planning officers.

First, developers need conservation area consent to knock down the site’s existing buildings and some objections have been registered.

The Conservation Area Advisory Committee has claimed the plans “would destroy the area’s character”.

The second development, a 15-storey build in Fenchurch Street also received a recommendation for development.

Should the schemes go ahead they could ad 800,000 sq ft of offices to the City of London. Together the pair will increase building activity in the centre of London, a region hit hard by weakened credit markets.

New developments have been hit hard by credit pressures, as they rely on funding, and a strong rental market to help generate income.ADNFCR-1329-ID-18777427-ADNFCR

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