Paternoster Square

Paternoster Square is an urban development, owned by the Mitsubishi Estate, next to St Paul's Cathedral in the City of London. The area, which takes its name from Paternoster Row, once centre of the London publishing trade, was devastated by aerial bombardment in The Blitz during World War II. It is now the location of the London Stock Exchange which relocated there from Threadneedle Street in 2004. It is also the location of investment banks such as Goldman Sachs, Merrill and Nomura Securities, and of fund manager Fidelity Investments. The square itself, i.e. the plaza, is privately owned public space. In 2004, Christopher Wren's 1669 Temple Bar Gate was re-erected here as an entrance way to the plaza. The Square is near the top of a modest rise known as Ludgate Hill, the highest part of the City of London. It is characterised by its pedestrianisation and colonnades. The City of London was hit by one of the heaviest night raids of The Blitz on the night of 29 December 1940. Buildings on Paternoster Row, housing the publishing companies Simpkin & Marshall, Hutchinsons, Blackwood, Longman and Collins were destroyed. St Paul's Cathedral remained intact. In 1956, the Corporation of London published Sir William Holford's proposals for redeveloping the precinct north of St Paul's Cathedral. Holford's report attempted to resolve problems of traffic flow in the vicinity of the cathedral, while protecting the cathedral's presence as a national monument on the highest ground of the City, at the top of Ludgate Hill, on the north bank of the River Thames. The report was controversial, however, because it introduced a decisively modern note alongside the foremost work of Britain's foremost 17th-century architect, Christopher Wren. Rebuilding was carried out between 1961 and 1967, but it involved only part of Holford's concept — the area of Paternoster Square between St Paul's churchyard and Newgate Street — and this included undistinguished buildings by other architects and the omission of some of Holford's features.