To help improve air quality, an Ultra Low Emission Zone (ULEZ) will be in place in central London from April 2019 in the same area as the Congestion Charge.

This zone will require most vehicles driving into the City to meet strict emissions criteria. It will operate 24/7 and from October 2021 its boundaries will expand to the North and South Circular roads.

Congestion in central London has resulted in some of the worst air pollution in the world and ULEZ aims to tackle this. Yet the arrival of zero-emission vehicles on the streets is not the only change underway in the Square Mile.

A growing consciousness around the number of goods vehicles on the streets of the City is already clear. An increase in the proportion of light goods vehicles in central London in recent years has partly been driven by the increase in personal deliveries to workplaces from online retailers, and businesses are beginning to prohibit staff receiving personal deliveries.

Planning permission for 22 Bishopsgate was only granted on the grounds of an off-site goods delivery depot and future office developments need to consider how deliveries can be sustainably carried out.

Efforts to reduce emissions are one reason for the proposed pedestrianisation of the area surrounding Bank underground station, which already allows only buses, cyclists, and pedestrians to travel through Bank Junction from 7am-7pm on weekdays. The City of London Corporation is exploring various options to extend this further with its first ever long-term Transport Strategy that will fundamentally change the make-up of the City’s streets and public realm. 

It is anticipated employment in the Square Mile will increase by more than 620,000 people by 2044 and efforts to reduce traffic and make the streets more pleasant to walk around will support this growth.

Developers are constructing and refurbishing buildings around the City to offer businesses the very best offices to house global headquarters; developments which have successfully attracted the likes of Bloomberg, Deliveroo and WeWork. As an ever broader tenant mix looks to the City, high quality buildings and global HQ offices will expect to be accessed off a similar high quality of street. 

Furthermore, the City has an ever more vibrant night time economy. It is important measures are in place to accommodate greater footfall, and these changes themselves are likely to give way to even more growth, as improved streetscape in turn encourages visitors to spend more time in the area.

The capital's air pollution remains worryingly high, however the City of London is making tangible changes that will improve the lives of the people who live and work there and make the area, overall, more inviting.

The pedestrianisation around Bank is expected to pave the way for ‘pedestrian priority’ in other City locations, and these initiatives are being considered in other boroughs of London. Through this, and a crackdown on traffic, the City is remerging as a dynamic neighbourhood that is leading change and earning its ongoing reputation as one of the most sought-after business locations around the globe.

Further information 

Read more: City Office Market Watch