City Plan 2040
The City of London Corporation is progressing development projects under its strategic City Plan 2040, including a new road at 1 Undershaft.
The City of London Corporation is progressing development under its strategic City Plan 2040, which includes policies on planning obligations. In November 2026, the Streets and Walkways Sub (Planning and Transportation) Committee approved a Section 278 project for a new road at 1 Undershaft. This development, fully funded by the developer, also involves pavement and road reconstruction on Leadenhall Street and St Mary Axe.
An initial £280,000 has been allocated for the evaluation and design phase of the 1 Undershaft project, with design work expected to commence in November 2026. The Section 278 / s38 agreement with the developer is anticipated by Summer 2028.
Key facts
- The Streets and Walkways Sub (Planning and Transportation) Committee approved a Section 278 project for a new road at 1 Undershaft in November 2026. Source
- The 1 Undershaft road project is fully funded by the developer. Source
- An initial £280,000 has been allocated for the evaluation and design phase of the 1 Undershaft project. Source
- Design work for the 1 Undershaft project is expected to begin in November 2026. Source
- A Section 278 / s38 agreement for the 1 Undershaft project is anticipated by Summer 2028. Source
About this summary
This summary was written automatically from our published stories and the council meeting records they draw on. It describes what councils have discussed and decided; it does not take a view on any decision. Each key fact links to the story it comes from. Updated 2 November 2026. Spotted a mistake? Email community@opencouncil.network.