23 MAY 1998, Page 27

Down, down, down

THE MILLENNIUM Hole in the City of London — site of that hideous block on the corner of Fenchurch Street, before Bar- clays pulled it down — has set a good example. The oppressive concrete bastion across the moat from the Tower of London is doomed. The big insurance brokers J. & H. Marsh & McLennan inherited it when they took over Bowrings, but now they think that a hole in the ground would be prettier. How right they are about that. Timed for the millennium, a stylish Nor- man Foster building is to replace it. Now let us see the Stock Exchange follow suit. Its drab tower has long ceased to serve the purpose for which was built. In white tie, tails and metal, 1 was there to see the Queen open it. I hope to be there when she shuts it, but if she is too busy, I am pre- pared to stand in. What a hole it will make.