City of London

City of London, City of London

The City with a capital ‘C’ always refers to the City of London, either in the literal geographical sense or as a figurative term for London’s financial centre

geograph-5115029-by-Christine-Matthews - City of London skyline from New Zealand House

The City extends from Chancery Lane in the west to Mansell Street and Middlesex Street (Petticoat Lane) in the east. It is bounded by the Thames to the south and its jagged northern border reaches its farthest point just short of the western end of Old Street.

The Romans appear to have decided to make Londinium their capital soon after invading Britain in 43AD and built a defensive wall that encom­passed 330 acres on its completion in the third century. With the departure of the Romans early in the fifth century, the Saxons estab­lished their main trading settlement in the vicinity of the Aldwych and the City fell into decline.

The construction of the first St Paul’s Cathedral in 604 was the first sign of renewed growth and by the ninth century prosperity had returned, with Cheapside becoming London’s high street.

Although the Normans made Westminster their seat of government, William the Conqueror built a castle that later became the Tower of London at the south-east corner of the City. (The Tower nowadays finds itself just outside the City of London boundary: it is in the London Borough of Tower Hamlets.)

Richard I allowed Londoners to choose their own mayor and the Guildhall was constructed in the early 15th century as a form of parliament for repres­ent­atives from the City’s merchant guilds.

St Paul's Cathedral
St Paul’s Cathedral*

The estab­lishment of the Royal Exchange in 1570 consol­idated London’s role as a leading inter­na­tional trading centre, but like most of the City’s buildings it burned down in the Great Fire of London in 1666.

The medieval street plan was retained in the City’s recon­struction, but brick and stone were used for the replacement buildings, rather than wood.

Sir Christopher Wren was commis­sioned to rebuild the City’s churches, including St Paul’s Cathedral, which is shown in the photo on the right.*

The Bank of England was founded in 1694 and evolved into the official custodian of the nation’s currency over the course of the following century. Other great financial insti­tu­tions also assumed their modern form during this period, including the insurance brokers Lloyd’s of London and the main clearing banks. The Mansion House, the official residence of the Lord Mayor of London, was completed in 1752.

Britain was relat­ively unaffected by the wars that blighted Europe for more than two decades from 1792, allowing London to assume an unrivalled position as the mercantile centre of a growing empire. However, with more than 100,000 inhab­itants crammed into the square mile, the vast majority of Londoners reaped scant reward from the City’s wealth and the reality of daily life was dark, dirty and noisome in the warrens of tenements in the poorer quarters.

A great change came with the building of the railways in the mid-19th century. Together with other improve­ments in transport and increas­ingly affordable fares, the railways stimu­lated a suburban building boom that allowed an exodus of residents.

The destruction wreaked in the Second World War resulted in the clearance of the most of the surviving dwellings and workshops, although the subsequent construction of the Barbican brought the return of a resid­ential and cultural aspect.

From the late 1980s the regen­er­ation of Docklands posed the most serious threat to the City’s vitality since the Romans left. The Corporation of London reacted by relaxing some of its strict planning controls, improving streets­capes and embarking on a worldwide promo­tional drive. Despite the loss of some major corpor­a­tions, construction of new floor­space recovered – most visibly in the form of 30 St Mary Axe, better known as the Gherkin – and the City’s daytime population remains massive; more than a quarter of a million people commute here every day.

Boundary changes in 1994 increased the City’s area to 779 acres and added more than 30 per cent to its population – mainly from the Golden Lane and Mansell Street housing estates.

The Sky Garden atop the ‘Walkie-Talkie’
The Sky Garden atop the ‘Walkie-Talkie’*

The City exper­i­enced a surge in the creation of resid­ential units in the late 1990s, rising from almost none in 1994 to nearly 500 in 1999, split almost equally between new buildings and office-to-flat conver­sions. In the early years of the 21st century the craze faded, especially for conver­sions. However, the construction of office towers has continued apace, inter­rupted only briefly by the financial crisis of 2007–8. The towers are mostly concen­trated along and around Bishopsgate. Farther south, the 38-storey ‘Walkie-Talkie’ (20 Fenchurch Street) has a publicly accessible viewing area, shown in the photo on the right.*

In November 2016 the City of London Corporation’s planning and transport committee granted approval for yet another tower, a 73-storey skyscraper formally called 1 Undershaft and nicknamed the Trellis, which will be second tallest building in western Europe after the Shard. Like the Walkie Talkie, it will include a free public viewing gallery.

The City’s demographic profile is radically different from that of any other local authority in London. Sixty per cent of residents are qualified to degree level or higher and a similar proportion of house­holds have only one occupant. The proportion of residents aged under 19 is less than half the national average.

Postal districts: EC1, EC2, EC3 and EC4
Population: 8,672 (2016 projection based on mid-2014 estimate)
Further reading: Nicholas Kenyon (editor), The City of London: Architectural Tradition & Innovation in the Square Mile, Thames & Hudson, 2011
and David Kynaston, City of London: The History, Vintage, 2012 (abridged edition of a 4-volume history)
See also: City of London dragons
 
City of London skyline - labelled* The picture of the City of London skyline at the top of this page (and labelled on the left) is adapted from an original photograph, copyright Christine Matthews, at Geograph Britain and Ireland, made available under the Creative Commons Attribution-ShareAlike 2.0 Generic licence. The photograph of St Paul’s Cathedral is by Garry Knight at Flickr, made available under the Attribution 2.0 Generic licence. The photo of the Sky Garden atop the ‘Walkie-Talkie’ is by Colin at Wikimedia Commons, made available under the Attribution-ShareAlike 4.0 International licence. Any subsequent reuse is hereby freely permitted under the terms of those licences.