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2025 Record Year for City of London Planning Applications
06 January 2026
2025 saw a record demand for office space in central London, with the City of London Corporation receiving the highest number of annual applications in a decade.
Over half a million square metres of office space have been granted planning permission, with around half already under construction. Retrofit schemes accounted for half of the planning applications received in 2025.
According to Avison Young, the office vacancy rate for the City of London is approximately 7.4 per cent, but drops to around 1.9-2.6 per cent for the Grade A towers. The Square Mile’s largest office building, 22 Bishopsgate, is now fully occupied. 1 Undershaft is already underway, and 85 and 60 Gracechurch Street are starting in early 2026.
Chair of the City of London Corporation Planning & Transportation Committee, Tom Sleigh, said: “This record-breaking year proves one thing: Britain’s Central Business District is booming. The Square Mile remains the nation’s engine room for investment growth, and the pace of demand is only accelerating.
“With 20 major office schemes, including eight new towers, now under construction and thousands of jobs being created, the City is once again showing the rest of the country how to plan for growth.
"None of it would be possible without the dedication and expertise of our planning team. My heartfelt thanks to them all, and a well-earned congratulations for helping to shape a world-class City.
“These are not just buildings but commitments to Britain’s economic future. Our planning pipeline is powering the City’s evolution into a more sustainable, better connected, and more vibrant destination for businesses, workers and visitors alike.”
Picture: a CGI showing what the City of London's Skyline might look like by 2030. Image Credit: City of London Corporation
Article written by Ella Tansley | Published 06 January 2026
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