, which are unable to meet modern standards, would be the first to be considered for change of use.' The City of London is considering introducing a 'retrofit fast track' that will let projects renovating existing buildings jump to the front of the planning permission queue. This could help incentivise more developers to transform the area's historic buildings into hotels. Joshi says: 'We're accommodating a retrofit-first approach in our City Plan, which will form the strategic basis for how the City develops over the years ahead.' Yet amid the rush to bring in new businesses and visitors, the City will not forget office workers. While Bank Tube station is no longer as busy as it was pre-pandemic, commuters are still core to the Square Mile. HSBC recently announced it was shifting its headquarters from Canary Wharf to the City in a sign of continued corporate interest. 'In addition to leisure visitors, the needs of business visitors require consideration, including provision of suitable facilities for meetings, conferences and exhibitions,' Joshi emphasises. The City of the future will see pleasure seekers rubbing shoulders with stockbrokers, it seems – at least if the example of 27 Poultry is anything to go by.){kind=link}
Square Mile banks on becoming a ‘global leisure destination’ as work-from-home pervades the capital
The vault in the basement of 27 Poultry used to house the valuables of Midlands bank customers. Today, the 20-tonne safe door leads to a members-only cocktail bar for visitors of The Ned.
The transformation of this historic building to a five-star hotel has provided a blueprint of how to reinvent the Square Mile in the post-pandemic era.
The City of London Corporation, which governs the district, wants to transform swathes of empty offices into hotels as part of plans to turn the financial district into a “global leisure destination” that can draw holidaymakers and pleasure seekers alongside suited bankers.
As much as 20pc of old office blocks could be turned into hotels, officials believe.