Proposed site included 43 Farringdon Street, 25 Snow Hill and 29 Smithfield Street. Freehold ownership of site belonged to Corporation of London, however Thornfield Properties had long term lease on the basements which extended the whole of the site.

In August 2001, Thornfield Properties asked Kohn Pedersen Fox Associates (KPF) to design a grade 'A' speculative building as an investment property. A planning application was submitted in May 2004, following discussion with CABE, English Heritage and the Corporation of London, due to the site being within a conservation area. Proposals focused on improving the ground level pedestrian permeability of the site, creating an 'Urban Market Hall,' along Farringdon street; additionally, the influence of the below ground railway structures created irregular ground for building design and engineering 'bridge' building with steel trusses within the structure needed to be considered.

Material in the collection mainly relates to the resulting public enquiry of 2007. Planning permission was granted subject to certain conditions which the Secretary of State called in to review.