The Barbican area, in the City of London, has witnessed various performances at its Barbican Centre over the years. Theatre, film, art, dance, music and more have all been enjoyed in the famous venue’s selection of halls, galleries and cinemas. William Shakespeare lived there once upon a time and it has been described by the Queen as ‘one of the wonders of the modern world’.
Joining the lengthy list of events in this renowned region of our capital is a new production – one that is already benefitting from quite a bit of media exposure and is set to run, at least among commercial property followers, for some time. It features local residents, who appear opposite European real estate management company Hammerson in a tale of strong foundations and open spaces.
The plot centres on Hammerson’s proposal for a 500,000 sq ft commercial property development in London Wall. The London Wall Place scheme comprises a 300,000 sq ft building with large floor plates, intended for a single occupier, and a 195,000 sq ft, 16-storey commercial property tower.
Residents from the Barbican Association have expressed opposition, citing its impact on views and a potential breach of rights to light. US investment bank JP Morgan had previously planned a commercial property project on the site in 2008, before pulling out amid opposition from the association. A spokesperson for the residents, who have reportedly been involved with Hammerson in an 18-month design consultation, said they are ‘supportive of many aspects of the development, but we think they’ve just gone too far and the scheme they’ve planned is just too big’.
Latest reports from the critics say the commercial property production has received approval from the City of London Corporation, although this is subject to a 30-day window of approval from London Mayor Boris Johnson.
Hammerson say they can achieve completion by 2014, ready for full occupation in 2015.
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