The Square Mile’s long transformation continues
28 October 2010 12:40am
POLICY CHAIRMAN, CITY OF LONDON CORPORATION
THE wind of change is blowing through the City and in this instance, I am not referring to London’s financial heart in the wake of the economic crisis. I am talking about One New Change, Cheapside’s largest shopping destination, which is set to transform the Square Mile.
Is that hyperbole? I don’t think so – and neither do my colleagues at the City of London Corporation, which is supporting Land Securities’ newest flagship development.
Twenty five years ago, the City of London was a very different place, characterised by drab office blocks and purely traditional architecture. The lack of shops and restaurants meant there was little reason to visit the City beyond its historic landmarks.
Now, I’m pleased to say, it’s a different story. The City of London’s skyline has changed dramatically, as has its retail landscape. It is a leader in exciting, cutting-edge building design; from the Gherkin and Heron Tower to the under-construction Pinnacle, all of which complement the area’s traditional neo-classical architecture. One of the major changes in the last decade is the emerging bar and restaurant scene in the Square Mile, in addition to a wide range of luxury fashion boutiques, in particular around Royal Exchange.
There is now a café culture in the City. We have brought back shopping to the Square Mile. The City of London Information Centre opposite St Paul’s Cathedral has just welcomed its one-millionth visitor, just three years after it opened. Clubs in Cornhill are bustling with young people. Today the City is so much more than just a place to do business.
And we hope that visitors will not only enjoy the cafes and restaurants, but also combine food and drink with cultural attractions; be it at St Paul’s Cathedral, the City’s Barbican International Arts Centre or at the nearby Museum of London.
I have no doubt that One New Change will be a tremendous success. Open seven days a week and bringing together 60 cafés, restaurants, big brands and independent stores under one roof, it will stamp its distinctive mark on the City. A sixth-floor public roof terrace opening next month will enable people to enjoy spectacular views of St Paul’s Cathedral.
Leading architect Jean Nouvel based his striking design on the US stealth bomber, but there will be nothing stealthy or subtle about the positive impact that One New Change will have on the City. I do hope you enjoy your visit.
In other news
June 5 will be the next crunch point in the Greek debt talks. [Read more]
The customer is king when it comes to winning amid an increasingly competitive retail landscape. [Read more]
Top tourist attraction Madame Tussauds Marylebone site has been snapped up by a Taiwanese insurer in a multi-million [Read more]
The Chinese city of Guangzhou may have banned Uber, but that hasn’t stopped its municipal government setting [Read more]
Labour has performed a balletic U-turn this morning, abandoning its opposition to EU membership referendum. [Read more]
Greece’s interior minister has said that the country cannot afford its 5 June payment to the International Monetary [Read more]
Young people aged 16 and 17 years old should be given the chance to vote in a EU referendum, according to the [Read more]
The Bank of England is carrying out a confidential investigation into what would happen if the UK left the European [Read more]
This year's Eurovision Song Contest will feature an addition to the normal line up – for the first time ever, [Read more]
Tonight is the 60th Eurovision Song Contest, and once again we're in for an evening of cheesy music and crazy [Read more]
The Eurovision Song Contest is getting more and more expensive, despite Europe's decline into austerity. [Read more]
There were delays of up to 30 minutes to trains in and out of Kings Cross Station, after the station was re-opened [Read more]
When a 20-year-old footballer publicly declares he wants to leave a club and his agent hurls insults at one of [Read more]
The outbreak of bird flu in the US is leading to an unprecedented situation for companies reliant on eggs – [Read more]
Germany's finance ministry has denied reports it was considering offering Greece its own parallel currency. [Read more]
Chancellor George Osborne was given a boost today, as higher tax receipts helped shrink the deficit by more than [Read more]
Beleaguered spread-betting firm Plus500 today suspended trading in its shares on London's junior market, following [Read more]
The news that card and electronic transactions have overtaken cash as the UK’s preferred method of payment is [Read more]
Despite the crippling effect of election uncertainty, offers received in April were up 15 per cent on last year [Read more]