{
  "id": 5338528,
  "title": "Tower of London curbs on skyscrapers ‘will cost City £1.2bn’",
  "url": "https://urgent.news/2026/09/03/tower-of-london-curbs-on-skyscrapers-will-cost-city-1-2bn",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-03T13:37:15.000Z",
  "source": {
    "name": "City AM",
    "slug": "city-am",
    "url": "https://www.cityam.com/tower-of-london-curbs-on-skyscrapers-will-cost-city-1-2bn/"
  },
  "original_language": "en",
  "account": "Plans to protect the views of the Tower of London could cost the UK economy £1.2 billion in lost output, according to the City of London Corporation. The historic watchdog, Historic England, is attempting to create a larger uninterrupted sky gap between the medieval fortress and the skyscrapers on the city's eastern edge. However, City of London Corporation planning chairman Tom Sleigh claims that restrictions on construction near the Tower could \"sterilize\" the area's economic potential by £1.2 billion. The Corporation's planning policy was approved last year, but was recently put under further scrutiny by housing minister Matthew Pennycook due to concerns it could jeopardize the Tower's Unesco World Heritage Site status.\n\nA planning inspector is reviewing Historic England's proposed alternative plan, which would have nearby towers \"lean away\" from the heritage site. Sleigh explained that the loss of upper floors, which often hold the bulk of a property's value, could render entire development schemes financially unviable. Historic England's plan could potentially halt as many as 20 skyscraper projects in the east of the City, resulting in the loss of 1 million square feet of office space, 6,800 jobs, and £1.2 billion in economic output.\n\nSleigh emphasized that the curbs on office space could jeopardize the City's ability to attract international businesses to its headquarters. He warned that the risk of losing these businesses to other cities is high, as most multinational corporations do not have to choose London for their European headquarters. Office space in the Square Mile has been scarce in recent years, prompting local figures to call for emergency laws to encourage construction in the area.\n\nIn a submission to the planning hearing, the City of London Corporation expressed concerns that Historic England's proposal would significantly reduce the City's ability to meet its commercial growth needs by removing valuable floor space, especially at higher levels. The heritage watchdog, however, stated that they aim to find solutions that reduce harm to the Tower of London while still promoting economic growth. They emphasized that protecting the world heritage site is crucial and that minimizing potential damage is vital for its conservation.",
  "summary": "Plans to protect views of the Tower of London will cost the economy £1.2bn in lost economic output, the City of London Corporation has warned. Historic England, the government’s heritage watchdog, is battling to secure a “larger uninterrupted gap of clear sky” between the medieval prison and the cluster of skyscrapers on the eastern edge [...]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Vietnam Investment Review",
        "title": "JustCo opens flexible workspace centre at Raffles City Tower Singapore",
        "url": "https://urgent.news/2026/09/03/justco-opens-flexible-workspace-centre-at-raffles-city-tower-singapore",
        "published": "2026-09-03T04:44:22.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}