History

Paternoster is a mixed use development of over 1 million sq ft which is set to become a new focus for the business community in the City of London. Many major companies such as Goldman Sachs International, the London Stock Exchange and CB Richard Ellis are located on the site itself and Merrill Lynch’s new European headquarters is across Newgate Street.

History

Paternoster Square is an ancient space, rendered sacred by association. In the history of London it will be forever connected with Paternoster Row, a street that has its origins in medieval times when the clergy of St Paul’s use to walk in procession, telling their rosary beads and reciting the Paternoster prayer.

1940 - 1959

1940
Paternoster bombed

1942
Planning Committee of the Royal Academy, chaired by Edwin Lutyens, publishes a report on the replanning of London.

1947
Report on reconstruction in the City of London by Charles Holden, William Holford and Leslie Martin.

1956
William Holford proposal put forward.

1960 - 1979

1961-67
Church Commissioners owners of entire site, sell long leases to CEGB and contractors who constructed the Holford scheme.

1970
Paternoster rapidly falls from grace.

1980 - 1999

Early 80s
Largely vacant retail, office and public space.

1986
Ownerships restructured. CEGB take ownership of Sudbury House and remainder of site sold on 250-year lease from the Church Commissioners to consortium made up of Stockley Plc (50%), British Land, Unilever and Barclays Bank. As part of acquisition, Sheldon House sold on long lease to Charterhouse Bank. Stanhope appointed as developer on behalf of owners. (Stuart Lipton also major shareholder in Stockley Plc.)

Nov 86
General architects competition launched.

Mar 87
Shortlist of architects selected: Arup Associates; James Stirling; Michael Wilford & Associates; Richard Rogers Partnership; Skidmore Owings & Merrill; Arata Isozaki; MacCormac Jamieson Prichard & Wright; Foster Associates.

June 87
Presentation of schemes to independent assessment panel including William Whitfield (surveyor to St Paul’s), Larry Rolland (then President of RIBA), Charles Jencks and Colin Amery.

Summer 1987
Mountleigh acquires Stockley Plc and with it its 50% stake in Paternoster. Mountleigh then buys out other landowners. Mountleigh later sells on Paternoster as part of a portfolio to Cisneros of Venezuela.

Oct 1987
Arup Associates appointed with proposal to consider inclusion of Richard Rogers’ elements within scheme.

Dec 1987
Conclusion that Rogers’ elements could not be tied in. Arup Associates proceeds alone.

1987-1988
Masterplanning scheme worked up. Michael Hopkins and MJP appointed to design buildings.

Nov-Dec '88
Masterplan presented to public in St Paul’s. Exhibition also included early John Simpson scheme, sponsored by The Evening Standard.

1980 - 1999

1989
John Simpson creates alternative masterplan for Paternoster (supported by Prince of Wales).

Nov 1989
Greycoat and Park Tower acquires Paternoster from Cisneros.

Feb 1990
MEC brought in by Greycoat and Park Tower.

1990
Decision to take Simpson scheme forward instead of Arup’s scheme. Terry Farrell brought in as masterplanner. Simpson kept on as one of a group of Classical architects to produce overall scheme and planning application. Others include: Sidell Gibson Partnership; Demetri Porphyrios; Hammond Beeby and Babka; Allan Greenberg; Robert Adam; Quinlan Terry.

May 1991
Masterplan exhibition of Farrell/Simpson scheme.

June 1992
Planning application submitted.

2000 - 2002

Mar 2000
Vacant possession and agreements to buy out 3rd party rights completed and phase 1 demolition completed.

Apr 2000
Phase 2 demolition begins.

Aug 2000
Christ Church Court completed. Schroders lease assigned to Goldman Sachs.

2000

Eric Parry Architects (later with Sheppard Robson) brought in to replace Hopkins.

Spring 01
Agreements in principle to pre-let the three main office buildings to Goldman Sachs, London Stock Exchange and CB Hillier Parker.

Jun 01
Stanhope brings in Bovis as joint venture partners to deliver to complete design and build all major buildings.

Aug 01
Agreements for lease completed.

Oct 01
Construction of buildings commences.

2003

Spring 03
All buildings completed.

Sept 03
Paternoster Square opened.

Warwick Court. Building 1
Architects: MacCormac Jamieson Prichard

10 Paternoster Square.Building 2
Architects: Eric Parry Architects/Sheppard Robson.

St Martin’s Court. Building 3.
Architects: Allies and Morrison

Buildings along St Paul’s Churchyard
Architects: Whitfield Partners with Sidell Gibson (Buildings 4 and 5) and Sheppard Robson (Building 6).