This street parallels the River Thames, running from St. Paul’s Churchyard to King William Street near Monument Station. While once the site of textile warehouses, Cannon Street today is part of the City’s bustling centre. As a result, the area around Cannon Street Station is prime realty for commercial properties for sale and so the site of various redevelopment projects.
As part of London’s financial centre, Cannon Street has gone through multiple renovations, especially of the mainline railway terminus and Underground station at Cannon Street Station. Historically, the surrounding area was home to candle-makers before the construction of the medieval Steelyard and later the original train station. After its destruction in World War II, Cannon Street Station was redeveloped with a multi-storey office building in the 1960s and then the Atrium and River Building office blocks in the 1980s. Today, financial and legal offices line the street, with the pedestrian-oriented Central Plaza at Queen Street. The goal for various regeneration projects has been to meet the City’s growing need for city centre offices to let.
The Cannon Street area is changing, with mixed use developments like 111 Cannon Street incorporating residential and commercial property for rent. The redevelopment of Cannon Street Station has focused on office space in town, with the landmark Cannon Place Redevelopment adding 400,000 square feet of offices, retail units to let, and an overhaul of the station. This area is in high demand, so investment property for sale on Cannon Street is better-suited to established companies able to pay for the benefits of a central location.