Railpen, one of the largest pension managers in the UK, has announced that Waystone, a global leader in specialist asset management services, is relocating its London team to the prestigious 125 Wood Street office development, which is now fully let. Waystone has signed for 8,078 sq ft of premium Grade
Real estate investment firm Castleforge has clinched a substantial £115 million loan to support the redevelopment of the iconic Grade II-listed 1 Golden Lane office building in London’s Square Mile. This significant funding will enable Castleforge to bring to life an ambitious vision for the site, reflecting its commitment to
WORKPLACE design and build specialist ODCreate has delivered a category A+ project, reimagining 7,000 sq ft of office space in central London. The offices – situated close to Leicester Square at 101 St Martin’s Lane – have been refurbished for landlord KGAL, an independent German investment and asset manager, with ODCreate
Virgin Media O2 has signed a commitment to invest in a new state-of-the art office space in central Manchester, agreeing a contract with Island that will see the new and innovative net zero carbon workspace become the company’s central Manchester office location from late next year. With the lease of
Acquisition represents largest office investment deal in the city for half a decade Ashtrom Properties UK has acquired Central Square in the heart of Leeds’ financial district for £78M. The landmark office building transaction represents the largest office investment deal in the city for more than 5 years. Guy Lewinsohn,
INTERNATIONAL insurance intermediary group Howden has unveiled its new office at The Avebury in Milton Keynes, thanks to workplace design and build specialist ODCreate. The near-30,000 sq ft project – which will complete later this year and is ODCreate’s biggest to date in terms of floorspace – has been designed
RED Construction Group, the specialist main contractor, has announced its appointment by Berkeley Estate Asset Management (BEAM) to carry out a comprehensive refurbishment of 8 Lancelot Place in Knightsbridge. Delivering the refurbishment is RED Construction Group’s Special Projects team, which will be undertaking some of the works while office tenants
A landmark office development in Newcastle’s historic Stephenson Quarter has been renamed One Founders Place, as it seeks a pre-let partner for its cutting-edge, £137 million regeneration project. The 100,000 sq. ft office space, spread across 10 storeys, is designed to blend sustainability with the city’s rich industrial heritage, making
Construction firm Legendre UK has been appointed by developer W.RE and joint venture partner Taurus UK to lead the development of a new 46,000 sq ft high-quality office scheme at 14-16 Peterborough Road in London’s Parsons Green following a single-stage tender. Designed by TateHindle architects, the proposed sustainable commercial office
Plans are underway to extend and modernise the iconic Calton Square office building in Edinburgh, expanding its space from 150,000 sqft to 200,000 sqft. This ambitious retrofit project aims to significantly enhance the building’s environmental performance while maintaining respect for its historic location next to Calton Hill, a UNESCO World
Railpen, one of the largest pension managers in the UK, has announced that Waystone, a global leader in specialist asset management services, is relocating its London team to the prestigious 125 Wood Street office development, which is now fully let. Waystone has signed for 8,078 sq ft of premium Grade A offices on the sixth floor. Located in the heart of the City, 125 Wood Street boasts a prime position near St Paul’s Cathedral, offering unrivaled access and iconic views. Railpen’s ambitious refurbishment of the former 1980s structure created 65,000 sq ft of cutting-edge, Grade A office accommodation, featuring accessible terraces on the sixth and seventh floors that provide panoramic views of London’s skyline. Alex Luker, Asset Manager at Railpen commented: “We are delighted to welcome Waystone as the final tenant at 125 Wood Street. This agreement reflects Railpen’s commitment to creating exceptional workplaces that attract globally recognised firms. 125 Wood Street has been redeveloped to create high-quality, sustainable space that aligns with the growth ambitions of top-tier occupiers like Waystone, while delivering secure long-term returns for our members.” This signing marks the completion of the leasing at 125 Wood Street, one of the most significant deals for the development this year. The new office will house approximately 100 employees and will serve as a central hub for Waystone’s operations in London. Karl Midl, Country Head – United Kingdom at Waystone said: “Our move to 125 Wood Street is an exciting step for Waystone as we continue to enhance our presence in London, a key global financial hub. The new space demonstrates our commitment to London and ensures we are well located, close to many valued clients whilst simultaneously providing a high-quality, sustainable working environment for our team.” BH2 advised Railpen in the deal, while CBRE acted for Waystone. Building, Design & Construction Magazine | The Choice of Industry Professionals
Real estate investment firm Castleforge has clinched a substantial £115 million loan to support the redevelopment of the iconic Grade II-listed 1 Golden Lane office building in London’s Square Mile. This significant funding will enable Castleforge to bring to life an ambitious vision for the site, reflecting its commitment to creating sustainable and adaptable modern workplaces. With planning approval already granted by the City of London, the project will transform 1 Golden Lane into a cutting-edge, eco-conscious office space. On completion, the building will provide approximately 115,000 square feet of premier office accommodation, right in the heart of London’s financial hub. This redevelopment aligns closely with Castleforge’s research-led investment approach, focusing on enhancing property value through strategic operational improvements. The financing, secured through Cheyne Capital Management and Apollo Global Management, highlights investor confidence in Castleforge’s vision and in the enduring demand for high-quality office spaces within London’s business centre, despite the evolving landscape of commercial real estate. Building, Design & Construction Magazine | The Choice of Industry Professionals
WORKPLACE design and build specialist ODCreate has delivered a category A+ project, reimagining 7,000 sq ft of office space in central London. The offices – situated close to Leicester Square at 101 St Martin’s Lane – have been refurbished for landlord KGAL, an independent German investment and asset manager, with ODCreate repurposing the original fitout to make the space even more attractive for prospective tenants. The reimagining of the existing space has been undertaken with sustainability and adaptive reuse in mind, with an additional benefit of minimising marketing times of the offices for the landlord. Gavin Hawkins, managing director of ODCreate, said: “Market conditions within the office rental sector are changing all the time, and this project is a prime example of how existing spaces can be adapted and adjusted to those changing winds. “We are increasingly finding that landlords are pushing for category A and A+ fitouts that a tenant can let and be ready to move into straight away – especially in offices smaller than 10,000 sq ft. This kind of project is indicative of those market conditions, and the fitout was designed with this approach in mind. “It’s set in a really attractive central London location – which has been reflected in the quality of finish with the interiors – and is an excellent example of how ODCreate can deliver work that ticks the boxes for landlords and tenants alike.” Anaelle Dindorf, asset manager at KGAL Investment Management GmbH & Co KG, said: “We were pleased with the result of the works and had a very positive experience with the project team. The project was delivered without delay in the agreed timeframe.” ODCreate’s fit-out of the space is tenant-ready, with all elements of the design, dressing and fixtures designed to be used immediately by prospective tenants. ODCreate worked alongside Beadmans on the project, who acted as project manager and cost consultant. 101 St Martin’s Lane is one of several major projects recently completed by ODCreate, including a 30,000 sq ft new office for Howden Insurance in Milton Keynes. For more information, visit od-group.com Building, Design & Construction Magazine | The Choice of Industry Professionals
Virgin Media O2 has signed a commitment to invest in a new state-of-the art office space in central Manchester, agreeing a contract with Island that will see the new and innovative net zero carbon workspace become the company’s central Manchester office location from late next year. With the lease of its Wythenshawe office due to expire in early 2026, Virgin Media O2 undertook a comprehensive review of its property options in the area, drawing up a shortlist of several properties within 10 miles of central Manchester that could act as a base for employees to get together in person, while also supporting Virgin Media O2’s flexible working policies. Island, a net zero carbon workspace being developed by joint venture partners HBD (part of Henry Boot plc) and Greater Manchester Pensions Fund, was the company’s preferred choice, with employees set to benefit from excellent local amenities and in-building facilities. The site has strong transport links, excellent cycle storage and shower facilities, and features a rooftop terrace among its 12,500 sq ft of communal spaces, which include a wide range of food and drink options for employees. Among the teams moving to Island will be Virgin Media O2’s multi-skilled customer service teams who provide bespoke and specialist support on a range of customer issues, including sales and retentions, service issues, bereavement and telecare support. Having first moved to Wythenshawe in 1991, this new agreement with Island further extends Virgin Media O2’s long-term association with, and investment in, the Manchester area. Island is targeting an Excellent BREEAM Sustainable Building Certification, demonstrating the innovative strategies and green technologies it uses to achieve an exceptional level of environmental performance. A net-zero workspace from day one, Island’s sustainable features include centralised air handling units and demand-controlled CO2 sensors to improve indoor air quality, 350m² of solar panels, real-time energy consumption data screens, efficient lifts and LED lighting. This major investment from Virgin Media O2 will provide a modern, future-proof space for its people to meet and collaborate in the North West, consistent with the company’s flexible working policies. Virgin Media O2 will provide clear communication and support for employees currently based at Wythenshawe to ensure a smooth transition next year. Patricia Cobian, Virgin Media O2’s Chief Financial Officer, said: “This significant investment demonstrates our commitment to retaining a sizeable presence in Manchester, with a flagship new office that places us in the heart of the city’s thriving technology hub. “The state-of-the art office will provide a vibrant space for our employees in the North West to get together in person and collaborate, meeting our needs now and helping to attract future talent. Improving our people’s experience was a key focus in the selection process, and Island offers our employees a wide range of amenities and facilities that are not currently available to them. “With enviable environmental credentials and excellent transport links, this move will help reduce our carbon emissions and make it easier than ever for our employees to choose more environmentally-friendly modes of transport.” Ed Hutchinson, Managing Director at HBD, said: “Virgin Media O2’s decision to invest in Island and call this remarkable building its new home in Manchester is testament to the exceptional space we have created here. Island has been carefully designed around the needs of the occupier. Not only is it a highly intelligent and sustainable building, but it’s one which prioritises people’s health and well-being. Virgin Media O2’s values are perfectly aligned with ours and we’re proud to welcome them to Island. “At Island Virgin Media O2 will enjoy a building which has achieved Well Building Gold Rating. Designed to ensure that occupiers can be highly inclusive, Island features design elements and spaces which support neurodiversity, people of different faiths and gender identification as well as spaces for nursing mothers. “There is strong interest in the remaining space that is available at Island, with plenty of options to join Virgin Media O2 across the remaining four floors.” Andy Burnham, Mayor of Greater Manchester, said: “It’s very positive to see Virgin Media O2 bring their new North West HQ to Manchester in a state-of-the-art facility with net-zero carbon workspaces that enhance our carbon neutral plans. This multi-million-pound investment will bring a significant boost to the city-region and highlights Greater Manchester as a place where companies want to invest.” Island will become Virgin Media O2’s third major new office space since the merger in June 2021. The company is currently preparing to move teams into a new state-of-the-art HQ in Paddington by the end of the year, while it was recently confirmed that staff in Lanarkshire will transfer to a new office in Maxim Park in early 2025. Building, Design & Construction Magazine | The Choice of Industry Professionals
Acquisition represents largest office investment deal in the city for half a decade Ashtrom Properties UK has acquired Central Square in the heart of Leeds’ financial district for £78M. The landmark office building transaction represents the largest office investment deal in the city for more than 5 years. Guy Lewinsohn, CEO of Ashtrom Properties UK, said: “We remain committed to strategically investing in the UK’s regional markets, confident they offer substantial opportunities for sustainable growth and long-term value creation.” CBRE and Knight Frank acted for Ashtrom Properties UK on the purchase. Savills acted on the sale. Central Square comprises 217,249 sq ft of Grade A office accommodation across 11 upper floors above 13,126 sq ft of retail, restaurant and ground floor leisure units. It has one of the largest column free floor plates in the city of circa 25,000 sq ft and houses a Winter Garden and Sky Garden with break out and entertainment space for tenants along with 128 basement parking spaces. It has exceptional sustainability credentials including BREEAM Outstanding and EPC A. Located off Wellington Street and Whitehall Road, Central Square is close to Leeds Station and Trinity Shopping Centre in Leeds City Centre. Current tenants include Marks & Spencer PLC, PWC, RSM UK Management, Freeths, GXO Logistics, Sky, Sanderson Weatherall, BDO Services. Guy Lewinsohn, CEO of Ashtrom Properties UK further said: “The successful acquisition of this prominent building in the heart of Leeds marks a significant step in our ongoing commitment to invest in the future of the UK’s regional city centres, which we believe are poised for strong growth. “I would like to extend sincere appreciation to the vendor for their professionalism and collaboration throughout this process, which ensured a smooth and mutually beneficial transaction. A special thanks goes to our in-house team, whose dedication and expertise were instrumental in driving this acquisition forward. Their commitment, along with the support of our external partners, guided us to a successful outcome.” Will Kennon, Executive Director, CBRE said: “Central Square is one of the best regional office assets located outside of London. Leeds is experiencing significant growth across all metrics, and the office market is facing an acute shortage of prime office space which we believe will lead to continued strong rental growth over the next cycle. With the market facing continued development viability challenges, we consider this acquisition will deliver strong risk adjusted returns over both short and long term. We are delighted to have helped Ashtrom Properties UK secure this exceptional asset, to add to their strong UK office portfolio in line with its current strategy to invest in core regional cities” Henrie Westlake, Head of the North Knight Frank LLP, commented; “The acquisition of Central Square by Ashtrom Properties UK aligns with their strategic decision to selectively invest in the UK Office market. As a long term holder of assets, the strategy is driven primarily by the strong underlying market fundamentals that will drive rental growth for prime assets. Notwithstanding this, there is no question that a normalised market will see significant yield compression that will further validate this approach. This will almost certainly be viewed as the bellwether deal of this cycle.” Building, Design & Construction Magazine | The Choice of Industry Professionals
INTERNATIONAL insurance intermediary group Howden has unveiled its new office at The Avebury in Milton Keynes, thanks to workplace design and build specialist ODCreate. The near-30,000 sq ft project – which will complete later this year and is ODCreate’s biggest to date in terms of floorspace – has been designed around the business’ hybrid working model, with flexible and agile spaces that cater for both collaborative and individual working. Modelled on Howden’s main headquarters in London, the newly refurbished facility will also feature a large servery and café on-site, with an attractive food offering for staff and visitors alike. Erika Linghorn, who led the project for ODCreate, said: “This project is an excellent example of collaboration between client and designer, bringing together elements of Howden’s London headquarters with the unique qualities of The Avebury and the opportunities that brings. “The key factors in the brief for this project were to create a “destination” office to welcome and inspire in equal measure, as well as being able to adapt to changing working practices such as hybrid and collaborative working. “The Avebury represents the largest project ODCreate has ever undertaken as we look to expand our design and build portfolio – and we believe that the results will speak for themselves.” ODCreate is working alongside Savills as project manager and Fanshawe as cost consultant. The wider ODGroup has worked on the site of The Avebury previously, with ODInteriors undertaking the base build refurbishment of the former Avebury House before ODCreate was appointed to work on the client design and fitout for Howden Insurance. The 28,000 sq ft office space is one of several major projects recently completed by ODCreate, including ones for clients in the financial, legal and food and beverage office sectors. For more information, visit od-group.com Building, Design & Construction Magazine | The Choice of Industry Professionals
RED Construction Group, the specialist main contractor, has announced its appointment by Berkeley Estate Asset Management (BEAM) to carry out a comprehensive refurbishment of 8 Lancelot Place in Knightsbridge. Delivering the refurbishment is RED Construction Group’s Special Projects team, which will be undertaking some of the works while office tenants remain operational. Spanning 35,000 sq ft, the prominent office development is located at the corner of 8 Lancelot Place and 70 Brompton Road in Knightsbridge, opposite Grade II listed department store, Harrods. Set to undergo a substantial transformation, RED Special Projects will strip-out the current facilities to deliver a CAT A fit-out, across basement, reception, and levels two to seven. A new entrance, feature garden, glazing, and canopy – as well as refurbishment works to the level six terrace and roof – are also part of the project. MEP throughout will be enhanced, with the offices being served by high-efficiency all-electric systems at completion in line with BEAM’s sustainability requirements. It will also see RED Special Projects carrying out works on the live office building, with current tenants operational on levels two, three, and seven. RED Construction Group’s appointment on 8 Lancelot Place marks its second partnership with BEAM, with 21-25 Bruton Place due to complete Q4 2024, offering a contemporary open plan office space in the heart of Mayfair, alongside first-rate retail on the ground floor. Nathan Farrar, Construction Director at RED Special Projects, commented: “Our team is well versed in delivering complex schemes, and the works required at 8 Lancelot Place – while many of the office tenants remain working as normal – plays to our strengths. BEAM’s decision to partner with RED Construction Group for a second project is testament to the team’s extensive experience in delivering both high-quality office accommodation, and navigating unique and challenging logistics in the heart of London.” The appointment follows RED Special Projects’ delivery of the new hub facilities for Merlin Entertainments, at LEGOLAND Windsor’s £35m Woodland Village. The project has added an on-site restaurant, industrial kitchen, entertainment space consisting of various play areas, and a stage and bar, to the internationally renowned destination. Building, Design & Construction Magazine | The Choice of Industry Professionals
A landmark office development in Newcastle’s historic Stephenson Quarter has been renamed One Founders Place, as it seeks a pre-let partner for its cutting-edge, £137 million regeneration project. The 100,000 sq. ft office space, spread across 10 storeys, is designed to blend sustainability with the city’s rich industrial heritage, making it an ideal location for forward-thinking businesses. One Founders Place is the vision of RIBA Stirling Prize-winning architects Allford Hall Monaghan Morris and is set to be a climate-positive building. The project is targeting a BREEAM ‘Excellent’ rating and Building with Nature certification, ensuring it meets the highest standards for sustainability, while honouring its location’s legacy as the birthplace of George and Robert Stephenson’s locomotive factory, established in 1823. This ambitious rebrand comes on the heels of new research from Historic England, which highlights the economic benefits of integrating cultural heritage with modern development. Studies show that areas steeped in history enjoy stronger economic performance, with GDP growth linked to such heritage-led projects. One Founders Place is a prime example of how a development can harmonise the past with the future, combining industrial legacy with eco-conscious design. The building promises to deliver exceptional workspace, with floor-to-ceiling windows allowing natural light to flood the offices, and outdoor terraces offering panoramic views of the city. State-of-the-art, all-electric heating and cooling systems, along with on-site renewable energy solutions and passive solar shading, will support the building’s sustainability goals. Designed to Well Building Standards, the office prioritises both the wellbeing of its occupiers and environmental impact. Developed by igloo Regeneration and Thriving Investments in partnership with Newcastle City Council, One Founders Place is the centrepiece of the wider £137 million Stephenson Quarter regeneration. Joe Broadley of igloo Regeneration commented: “One Founders Place sits on a historic site with deep industrial roots. Our aim was to honour the Stephenson legacy while incorporating the latest in technology and sustainability.” Alex Hay from Newcastle City Council hailed the development as a key driver of the city’s future, contributing to the growth of a green economy that respects Newcastle’s proud heritage. Knight Frank, the agents tasked with securing a pre-let partner, described the development as a unique opportunity for businesses that value sustainability, employee wellbeing, and a distinctive workspace. Located in the lively Stephenson Quarter, One Founders Place boasts excellent transport links via the Tyne and Wear Metro and is surrounded by popular hospitality spots like the Crowne Plaza Hotel, Gin Bar, and The Arches Beer Street Micropub. Its close proximity to Newcastle’s cultural and retail hubs adds to its appeal for businesses seeking a prestigious and accessible location. Building, Design & Construction Magazine | The Choice of Industry Professionals
Construction firm Legendre UK has been appointed by developer W.RE and joint venture partner Taurus UK to lead the development of a new 46,000 sq ft high-quality office scheme at 14-16 Peterborough Road in London’s Parsons Green following a single-stage tender. Designed by TateHindle architects, the proposed sustainable commercial office development will feature six floors of flexible office and amenity space, spanning from the basement to the fourth floor. The building will include accessible roof terraces on the third and fourth floors, with planting across levels two to four. Fitted out to CAT A specification, the new building will emphasise sustainability with a robust, independent energy strategy, including air source heat pumps, PV panels, and abundant natural light. The site will be delivered in line with W.RE’s commitment to sustainability through design, ensuring that the building is built to last and equipped to meet future demands. These high sustainability criteria are aligned with the growing tenant demand for high-quality office spaces. The project will involve the demolition of the existing office block on site, with the new development retaining the existing party walls and targeting BREEAM Excellent. Situated in the heart of Parsons Green, the building offers Southwest London residents high-quality, well-connected office space, catering to the growing demand for workspaces within walking distance of home and local amenities. The site is in a prime location, with easy access to New King’s Road and Parsons Green, including green spaces, leisure and retail facilities, and transport links to Central London. Legendre UK will act as the main contractor on the scheme and will also be a co-investor with works starting on site in August this year. Completion is scheduled for Q3 2026. Andrew Haines, COO of W.RE, said: “This investment will transform a prominent site in Parsons Green, providing much-needed high-quality office space in a sought-after Southwest London location. Partnering with Legendre UK we will deliver a best-in-class, sustainable building that meets the growing demand for workspace outside of central London’s historic core.” Nick Jacobs, Managing Director of Taurus UK, said: “We are really pleased to be committing our investment to great partners to create a relevant and much-needed development.” Thomas Vandecasteele, Managing Director at Legendre UK, said: “This appointment builds on Legendre UK’s expertise in delivering complex commercial schemes across London, continuing to strengthen our co-investment strategy alongside key and trusted partners, which we started in 2021 on Dockley Road and continued in 2022 on Sheepcote Road. Acting as both contractor and co-investor demonstrates the added value that Legendre UK can bring.” Tanguy Guerer, Head of Pre-Construction at Legendre UK, said: “We are delighted at the opportunity to work with W.RE, following a competitive single stage tender. Our proposed value engineering included in our tender were well received by W.RE, allowing us to maximise cost efficiency on the project whilst still ensuring a high-quality outcome.” Elliott Wood has been appointed as the Structural Engineer, Exigere as the Quantity Surveyor and B&CO as the Project Manager. Building, Design & Construction Magazine | The Choice of Industry Professionals
Plans are underway to extend and modernise the iconic Calton Square office building in Edinburgh, expanding its space from 150,000 sqft to 200,000 sqft. This ambitious retrofit project aims to significantly enhance the building’s environmental performance while maintaining respect for its historic location next to Calton Hill, a UNESCO World Heritage Site. Ardstone Capital Ltd (UK), the development manager acting on behalf of Macquarie Asset Management, has appointed the architectural firm Sheppard Robson to lead the redesign. The architects are tasked with creating a structure that seamlessly bridges Edinburgh’s Old and New Towns. Sheppard Robson’s approach prioritises a fabric-first reuse strategy to address several challenges that the existing building poses for modern occupants. The current extensive glazing has led to overheating and operational inefficiencies, and the building’s fragmented internal layout needs reconfiguration to improve the entrance experience, which is complicated by the site’s varied street levels and stepped primary access. A key feature of the redesign is a new dramatic triple-height atrium covered with a structural timber roof, which will repurpose an underused internal courtyard for cultural activities that benefit the local community. The new façade will feature profiled spandrels and vertical fins to maximise self-shading and improve thermal efficiency. The project is targeting prestigious environmental and wellness certifications, including BREEAM Outstanding, NABERS 5*, and WELL Platinum. Mark Kowal, Partner at Sheppard Robson, commented: “Calton Square is a thoughtful blend of old and new. Our design approach has been to integrate the building into its unique location, creating a seamless transition between the city’s Old and New Towns. The goal is to reposition the existing building by creating an exemplary adaptive reuse project that excels in environmental performance and becomes an asset to the community.” Building, Design & Construction Magazine | The Choice of Industry Professionals
