A new flagship court is to be built in the heart of legal London to tackle cybercrime, fraud, and economic crime, and also replace the Mayor’s and City of London County Court, and City of London Magistrates’ Court.
It will be on the site of Fleetbank House, just off Fleet Street. Subject to finalising funding arrangements and securing planning permission, it is expected to be completed in 2025.
Fleetbank House is currently home to the Employment Appeal Tribunal, and it will move to the Rolls Building.
The Ministry of Justice said the court “will be a sign to the world that the UK remains the global centre for law and finance”.
The proposal for the new court was announced last October by the City of London Corporation, and work on feasibility has now concluded. Funding will be provided by the City of London Corporation and HM Courts and Tribunals Service.
The figure has not yet been settled, but the new court should be on a similar scale to the Rolls Building, which cost around £250-300m. How that cost was split between the corporation and the courts service is not known.
It will have 18 courtrooms and also house a new City of London police station.
Lord Chancellor David Gauke said: “The flag of English law is flown in countries across the globe, and London already leads the way as the best place to do business and resolve disputes.
“This state-of-the-art court is a further message to the world that Britain both prizes business and stands ready to deal with the changing nature of 21st century crime.”
Catherine McGuinness, policy chairman of the City of London Corporation, said: “This is a hugely significant step in this project that will give the Square Mile its second iconic courthouse after the Old Bailey.
“Our rule of law is one of the many reasons why London is the world’s most innovative, dynamic, and international financial centre, and this new court will add to our many existing strengths.
“I’m particularly pleased that this court will have a focus on the legal issues of the future, such as fraud, economic crime, and cyber-crime.
“Fleet Street may historically be known for hosting newspapers, but I believe with this iconic project it will be seen as a world leading centre for legal services and justice for decades to come.”