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DEBATE: Should we welcome proposals for the so-called Tulip Tower in the City?

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Should we welcome proposals for the so-called Tulip Tower in the City?

David Buik, market commentator at Core Spreads, says YES.

Sir Norman Foster’s first commercial building in the UK was the Sainsbury Centre of Visual Arts in Norwich, completed in 1974. Now that same architect has designed the Tulip Tower, to be erected and built (subject to planning permission) at 30 St Mary Axe, the previous site of the former homes of Lloyds Register of Shipping and “The Ring” of the London Metal Exchange.

It could not be more different to the Sainsbury Centre, but note that Foster’s most recent creations were the Gherkin, the Bloomberg Centre, and the Millennium Bridge – all unqualified successes.

There are concerns that this 1,000-foot tower is at risk of confusing air traffic control systems, with its gondolas designed to move people up and down. But the City has ample time to meet this challenge before the stunning tower is completed in 2025.

With its breath-taking views of the City and educational and cultural facilities, the Tulip Tower can be a beacon of hope for London’s future as the leading financial centre.

Vicky Pryce, former joint head of the Government Economic Service and author of It’s the Economy, Stupid, says NO.

There is a lot to admire about Norman Foster’s design, which would be the second highest building in the UK after the Shard in London Bridge.

There is also, however, a lot to be concerned about. The GLA planners say that it has failed to comply with the London Plan, and question the rationale for its size and design. The Tower of London has objected to this “exotic and consciously eye-catching form of the Tulip” damaging views of the historic site. And City Airport worries about the impact on its flights.

But in addition, one may wonder whether, at this juncture in our history, this is the right symbol for us. London is a city based on people interacting at ground level, a city of coffee houses, trading floors, markets, and shops. Does the capital really need another status symbol right now?

What we know instead it that London is crying out for affordable homes, more startup office space, and full digital connectivity for all, not just privileged workers in skyscrapers.