They will then showcase pictures and photos of the buildings and   at the Mall Galleries, near Trafalgar Square. The exhibition is planned to co-incide with the London Festival of Architecture, on June 19th – June 26th 2010.

The Club will be searching for buildings which are “significant in the development of architecture in London/Britain, represented a particular strand of architectural thinking or [remain] excellent examples of their kind,” says a Club spokesman.

The competition’s selection committee will be chaired by acclaimed British architect Ken Powell. Contenders for the awards include – The Barbican, Danish Embassy, QE2 Conference Centre, various buildings in Canary Wharf and Paternoster Square.

The competition will really celebrate what London has achieved in the last 50 years, more than just architecturally. The exhibition will showcase the growth of the capital though its amazing buildings and commercial properties. Plus there’s plenty in store for the next 50 years, with exciting new developments and office space being planned across the capital.

Markit, a financial services firm are currently agreeing terms on British Land’s Ropemaker, a 586,000 sq ft EC2 site. They are set to sign a lease on 80,000 sq ft of the premises, with an option to extend to an extra 20,000 at a later date.

Another company posed to move is law firm Stephenson Harrow. They are interested in at least three sites of around 150,000 sq ft of office space.  They were forced to move from their head quarters in St Martins’ 150 Cheapside, EC2 as another company Daiwa is closing a deal for 120,000 sq ft of space. Stephenson’s options include Parkhouse, owned by PRUPIM, 1 Finsbury Circus owned by Hermes’ Real Estate and Menolly’s 107 Cheapside. All the potential sites are in the EC2 area of London.

50,000 sq ft of office space at the London Stock Exchange has been taken by Banco Espirito Santo, a Portugese bank. They are set to lease the space at the building on 10 paternoster Square for ten years, with three years rent free. They are reported to be paying £40 per sq ft for the space.

Demand has been increasingly high during the economic recovery in the capital, where new developments were put on hold during the recession. The commercial property industry is certainly in full swing again with current trends and the fierce competition for space proving that London is the place to be.

The Crown Estate took ownership of the two blocks after an exchange in properties in 2007. They took the blocks from Pollen Estates in exchange for four blocks in Savile Road.

“Regent Street’s £750m regeneration programme continues to build on its success. We are pleased to be making a dramatic contribution to a flourishing West End with over 50 new retailers open, and over 300 new office businesses established since 2002,” says David Shaw, head of the portfolio for Regent Street at The Crown Estate.

The Crown Estate is also developing three residential sites, aiming to provide affordable yet high quality family homes in Westminster.

It’s great news to hear of new developments, given the recent boom in the office space sector in London, making it the most popular city in Europe for commercial property. Following the recession there were very few new office developments, and there is a shortage in the capital. Developments like this will help ensure the future of office space in London, and the rest of the UK.

John Denham argued that the towers would “materially detract from the size and importance of Big Ben by virtue of their bulk and disturbing aspects of design.” The three towers were often nicknamed the Three Sisters, although some saw them more as the ‘Ugly Sisters’.

The project was proposed by P&O Estates and Morgan Stanley Real Estate Fund (MSREF). They were planning to transform the 240,000 square foot Elizabeth House office block site into two high rise office towers and a 33-storey block of flats. Being close to Southbank and Waterloo station, the towers were designed to be a key factor in the area’s regeneration scheme.

The government rejection of the plans has thrown the regeneration of the Waterloo area into question. P&O Estates had invested around £8 million into the plans – would they be willing to spend any more time and money again?

Luckily, it seems the ball could now be rolling again. MSREF is reporting to be making plans for its next move for the area. They are currently looking for a new development partner to buy a 50% stake in the billion pound project. However this would mean P&O losing 10% interest.

Despite the setback from the government, the outlook is starting to look hopeful for the regeneration of the Waterloo area. They now have a fresh new beginning ahead, and investment opportunities look promising post-recession.

“It’s fair to say that the scheme needed refining. There is a clean slate with which to start again. Ultimately, the area around Waterloo station is a fantastic development opportunity,” say MSREF’s agent Jamie Pope, who is a senior director for CB Richard Ellis’ West End capital markets team.

Other planners believe that the government want to see a landmark site in the area, developed to form part of London’s well-known skyline. It needs to be an exceptional development which compliments the existing landmarks in the area.

Other possible developments include the station itself and the Shell Centre, belonging to the petroleum giant. Agents say that the successful developers of the site will be likely to make a really great investment in an area, which is predicted as the next market hot spot.  Clearly the area is seen as the next big thing in terms of regeneration and investment – Waterloo now seems full of potential for high standard developments in London.