John McAslan & Partners reworked 5 Cheapside scheme has won approval from The City of London Corporation’s planning and transportation committee
The practice redesigned its original proposal (pictured), which sits close to St Paul’s Cathedral, after CABE said it could not support the huge crystalline office scheme back in June 2008.
The project features 9,000 sq m of commercial space across eight storeys with 2,000 sq m of shopsl. It will also include a 16 metre cantilevered entrance extending over the entrance to St.Paul’s tube station.
The site is located at the western end of Cheapside on the junction of St. Martin’s Le Grand, New Change and St. Paul’s Churchyard and east of the Paternoster Square development.
Despite winning the corporation’s approval English Heritage objected to the scheme. In a report to the palnning committee, which sat yesterday, it said: ‘[We] are concerned that the intention of the new proposal is to create a striking building in its own right, rather than one that forms an appropriate backdrop to the cathedral…it is our view that the proposed building in its current form is not appropriate for this particularly sensitive location.’
The proposals for St Martins Property Group were first submitted to the Corporation in February 2008. Intial plans were first seen back in June 2006.
In a statement St Martins admitted that despite the approval, there is no confirmed start date. ‘St Martins can confirm that it has secured, from the City of London Planning and Transportation Committee, a recommendation to grant planning consent for the redevelopment of 5 Cheapside, London EC2. St Martins’ proposal is to demolish the existing unoccupied building and develop a building which is two storeys lower to provide 87,000 sq ft of office space over six floors and 20,000 sq ft of retail units at ground floor level. St Martins will continue to liaise with the City of London and assess demand, given the current economic climate. The company is therefore not in a position to estimate a start date on the project at present.’