Developer Edge lines up McAlpine for £150m Shaftesbury Avenue office transformation

Developer Edge, in partnership with Mitsubishi Estate, is preparing to move ahead with a £150m redevelopment of 125 Shaftesbury Avenue after securing a major funding package for the West End scheme.

Sir Robert McAlpine is understood to be the preferred contractor for the large-scale office refurbishment, which is being taken forward on a speculative basis. With funding now in place, construction is expected to start early this year once enabling works and strip-out are completed by John F Hunt.

The project, known as EDGE Shaftesbury, is backed by a consortium of Japanese equity investors including Tokyo Tatemono, Toko Electrical Construction and Fuyo General Lease, alongside development finance provided by Sumitomo Mitsui Trust Bank. The investment underlines continued confidence in prime London office space despite wider market uncertainty.

The scheme already has planning consent to transform the existing 1980s building into approximately 250,000 sq ft of modern workspace. Proposals include a reconfigured main entrance on Charing Cross Road, new rooftop terraces and upgraded office floors designed to meet the expectations of contemporary occupiers. Completion is targeted for 2028.

A central feature of the redevelopment is its low-carbon strategy. Around 75% of the existing structure will be retained, significantly reducing embodied carbon compared with a full demolition and rebuild. The refurbishment will also increase the building’s height from 11 to 13 storeys and introduce new ground-floor workspace to enhance street-level activity.

Fons van Dorst, managing director UK at Edge, said securing the funding represented a key milestone for the project and its partnership with Mitsubishi Estate London. He added that the move into delivery would allow the team to focus on creating a high-quality, future-ready office building that benefits occupiers, neighbours and the wider city.

Once complete, the development is expected to play a prominent role in the ongoing renewal of London’s West End office market.