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ANALYSIS
The City Corporation appears to have reined-in intervention on rights of light disputes
Critics fear this marks a lack of support for development
Has the City of London Corporation lost its stomach for intervention in rights of light disputes?
In 2011 it waded in on an argument between Land Securities and neighbouring landlords over the development of the Walkie Talkie at 20 Fenchurch Street, EC3, invoking section 237 of the Planning Act and forcing any rights of light settlement to be based on the loss of value for an affected property, rather than on a much more lucrative profit-share basis.
Goldman Sachs was expecting the same treatment on its Fleet Building and Plumtree Court, EC4, where it plans to create an £800m campus.
Neighbouring landlords Aberdeen and Royal London wanted compensation for their loss of light to be based on a profit share. Goldman, unsurprisingly, did not.
Initially it looked like the City was going to wade in again, with planning officer Annie Hampson recommending in September that the Corporation use section 237 to facilitate the development of the Fleet Building and Plumtree Court.