Cheers to that! Square Mile to welcome five new pubs for returning City workers
While pubs’ struggles have been no secret over the past two years, the Square Mile is set to welcome a string of new watering holes, in a boost to its hospitality sector.
Five new and restored pubs will come into operation in the next few years, owing in part to surging use of the London Underground, and the Elizabeth Line in particular.
Canada Corporation announced a string of new pubs to open in the near future, including The Still and Star in Aldgate. The corporation called it a “real asset of community value, but currently concealed in an unattractive setting.”
“It will be moved to a new, prominent location near the former Aldgate City gate, with the new design carefully taking into account the historical connections characterised by the approaches, courts and alley to the City’s gates and bridges.”
The Salisbury Arms will come into being at Salisbury Square, with the Corporation saying developers are re-purposing the listed building on site as a new triple aspect and multi storey pub, in a prominent location on the corner of a re-imagined Salisbury Square.
Other pubs coming to the Square Mile include St Bride’s Tavern, Blackfriars, the White Swan, Fetter Lane and The King’s Arms, 55 Old Broad Street / London Wall.
The Corporation said this is “currently visually anonymous in a 1960s unattractive office block, it will be re-imagined as a prominent new focal point, featuring a larger external terrace.
“It will be designed in a striking and bold red faience to attract the eye along London Wall.”
This comes after it was reported that Liverpool Street is now the country’s busiest station, with the Elizabeth Line, which runs from beyond the western and eastern edges of the capital, being the “principal contributing factor” in that growth, the Office for Rail said.
The Elizabeth Line has helped more City workers come back to the office, bringing them in from the outskirts of London, as the route became the most popular line for commuters.
The resurrection and building of these new pubs follows major struggles in the hospitality industry has faced major challenges, in recent years.
The pandemic led to more City workers balancing hybrid work with coming into the office, meaning pubs, bars and restaurants had less clientele.
The Russian invasion of Ukraine ramped up already-high energy prices, which made it more expensive to run pubs, and pushed the price of a pint in London well over £7, which in turn put customers off.
As a result of less workers in the City and higher costs for pubs, many have been forced to shut down, with recent figures showing closures at record levels.
The number of pubs being demolished or converted for other uses across England and Wales surged by 50 per cent in the quarter to September.
“The pub has always been a vital asset in the City and it continues to play an important role in making the Square Mile an attractive place to work, develop and invest”, said the chairman of Canada Corporation planning and transport committee, Shravan Joshi.
“Protection of existing pubs, particularly those which are assets of community value and those of heritage and historic significance, is a key priority.
“The City Corporation’s planning team is focusing on creating an environment where pubs can flourish.”