Regal has successfully secured a £58.6 million investment loan from lender Firma Partners to refinance The Clarendon Works, its newly completed, sustainable office development in Watford. The 12-storey office scheme is the largest of its kind in Watford, offering nearly 140,000 square feet of high-quality workspace, complete with modern amenities.
Railpen, manager of the £34bn railways pension scheme in the UK, and Ridgelift, its development partner, have secured consent from Cambridge City Council for 230 Newmarket Road, a 157,000 sq ft six-storey Grade A office building in the city. Outline consent has also been granted for 10,000 sq ft of
The British Council for Offices (BCO) has released the third edition of its Guide to Fit-Out, offering fresh insights and best practice recommendations for office design in an era shaped by hybrid working and the transition to net zero. This is the first update to the Guide since 2011 and
Rents for prime office space* across the globe rose by 0.3% and fit out costs by 0.2% in the final quarter of 2024, says Savills, as demand for top quality office space continues to grow in many markets around the world. According to Savills in its latest quarterly Prime Office Costs
SPECIALIST engineering consultancy Hexa has announced the opening of its new office in Sheffield, marking significant expansion into the North of England. In addition, Harry Davison and Jake Adams have been promoted to associates and will be leading the new Sheffield presence. Harry, a senior engineer, joined Hexa in 2021, bringing with him
Wilten Construction has been awarded a second Design and Build contract at Gateway 14 by client Gateway 14 Ltd and Jaynic. The project involves the development of a state-of-the-art, three-storey Skills and Innovation Centre spanning 35,000 sq ft in the heart of Gateway 14. Designed to achieve BREEAM Excellent standards,
Quadrant has welcomed three new food and beverage tenants to YY London, its newly refurbished 415,000 sq ft office development in Canary Wharf. Leading the lineup is Brother Marcus, the acclaimed Eastern Mediterranean restaurant group, which will bring its signature brunch, mezze, cocktails, and wines to the destination. The brand
Leading Manchester software services communications business, Voicescape, has relocated its headquarters to flagship office campus, Exchange Quay. The move sees the firm double its current office footprint as a result of sustained growth, both in terms of headcount and market share. Voicescape has agreed a 10 year lease on over
Railpen, manager of the £34bn railways pension schemes in the UK, has announced plans to redevelop 101 Bayham, its 22,000 sq ft office building in central Camden, London NW1, redefining the future of workspaces. Set for completion in Autumn 2025, the 1930s Art Moderne former factory is being reimagined by
Green Light for NXQ: Soller’s 18-Storey Office Development Gets the Go-Ahead Manchester City Council has granted approval for NXQ, an 18-storey, 120,000 sq ft office development by Soller Group, set to transform the corner of Lever Street and Great Ancoats Street. The project, designed by Howells, aims to deliver high-quality,
Regal has successfully secured a £58.6 million investment loan from lender Firma Partners to refinance The Clarendon Works, its newly completed, sustainable office development in Watford. The 12-storey office scheme is the largest of its kind in Watford, offering nearly 140,000 square feet of high-quality workspace, complete with modern amenities. With almost 80% of the space already let, major tenants include National Lottery operator Allwyn, which has taken 63,527 square feet across six floors, and global technology firm Epson UK, occupying 30,530 square feet. Interest remains strong in the two remaining floors of this premium-grade workspace, which has been designed to rival central London office standards. The deal marks another milestone for Firma Partners, a newly launched real estate lender. This is only its second transaction following last month’s support for McGrath Group’s £40 million acquisition and development project in West London. Victor Librae, chief executive of Firma Partners, commented: “We are pleased to provide Regal with an investment loan to refinance The Clarendon Works, a development that has set a new standard for office space in Watford and the wider South East. This highly sustainable, amenity-rich workspace has already attracted leading tenants, demonstrating its strong market appeal. “Firma Partners is committed to supporting innovative developers and investors in delivering top-tier real estate projects. The facility we are providing for The Clarendon Works aligns with our approach to backing high-quality developments with long-term potential.” Firma Partners specialises in flexible capital solutions for mid- to large-scale real estate investments and developments. Its focus spans across the living sector, including residential, mixed-use, build-to-rent, student accommodation, co-living, later living, hospitality, and hotels.
Railpen, manager of the £34bn railways pension scheme in the UK, and Ridgelift, its development partner, have secured consent from Cambridge City Council for 230 Newmarket Road, a 157,000 sq ft six-storey Grade A office building in the city. Outline consent has also been granted for 10,000 sq ft of retail and leisure space in a separate single-storey building adjacent to the office. Designed by Leonard Design Architects, 230 Newmarket Road is in a prominent position on a major thoroughfare into Cambridge. It has been conceived as a multi-occupier headquarters building, providing exemplary quality and amenities. The ground floor contains a generous reception area and extensive cycling and end-of-trip facilities, with space to park 438 bikes. Moving up through the building, the first floor includes an elevated lobby café and offices, with the floors above providing flexibility of configuration to reflect varied occupier requirements. The top floor features two pavilion-style office spaces designed for co-working, both opening onto an inside-outside terrace. Externally, the consent includes a new carpark with 45 spaces, 26 with EV charging. Railpen also has strong ambitions for 230 Newmarket Road’s sustainability credentials, and is aspiring for BREEAM ‘Outstanding’ and at least 20% biodiversity net gain. The design follows the principles of the London Energy Transformation Initiative (LETI) and RIBA 2030 Climate Challenge, with targets including net zero enabled in operation, low embodied carbon (800 kg/CO2e/m2), and a maximum operation energy performance of 55 KwH/ m2. More widely, 230 Newmarket Road is a gateway to Railpen’s proposed 1m sq ft Beehive, which will blend modern workspace, retail, leisure, entertainment and community spaces, and is currently going through planning, along with proposals to enhance the neighbouring Cambridge Retail Park through the introduction of new retail and leisure facilities. Together, the developments will create a new business district in Cambridge to serve the innovation and STEM sectors as part of the UK’s Golden Triangle, which was recently ranked by Savills as a top three life sciences hub globally. Matthew Howard, Head of Property at Railpen, said: “We’re delighted with the council’s decision to grant consent for 230 Newmarket Road, with the development adding to the quality of offices available to accommodate growth in a world-leading city for innovation. As importantly, it is the first stage of a new business district for the city that will bring more long-term employment and prosperity to one of the UK’s most important economic areas.” 230 Newmarket Road is the latest of Railpen’s investments in Cambridge. Part of its strategy of supporting the UK’s economic and social growth through the clustering of assets in key sectors and locations, it joins Mill Yard, its 180,000 sq ft mixed-use campus adjacent to Cambridge rail station, and the nearby Botanic Place, Railpen’s 500,000 sq ft headquarters office development. Railpen also has a number of other significant proposed developments in the city, including its 1m sq ft Beehive scheme, which has been called in by the Secretary of State. Building, Design & Construction Magazine | The Choice of Industry Professionals
The British Council for Offices (BCO) has released the third edition of its Guide to Fit-Out, offering fresh insights and best practice recommendations for office design in an era shaped by hybrid working and the transition to net zero. This is the first update to the Guide since 2011 and brings together expertise from over 100 industry professionals. It provides occupiers and built environment specialists with essential guidance on creating modern, flexible, and sustainable workspaces that enhance employee well-being while integrating smart technology and AI. Covering every stage of the fit-out process—from material selection and procurement to long-term management—the Guide is designed to be used alongside the BCO’s Guide to Specification, which helps define best-in-class workplaces. Key Focus Areas in the Latest Edition: This latest edition includes standalone sections on fire safety, acoustics, vertical transportation, and structural engineering—reflecting the increasing demand for offices that offer greater flexibility, adaptability, and connectivity. Offices Designed for the Future The Guide highlights a growing shift towards multi-use spaces, where traditional desk areas make way for collaborative and social zones. It also provides a checklist of design interventions that enhance occupier well-being, from biophilic elements and active workspaces to stress-reducing art and wellness facilities. Smart technology plays a crucial role throughout, with recommendations on how AI and automation can improve security, energy efficiency, and space management. The Guide also emphasises the importance of clear sustainability goals, encouraging businesses to set key performance indicators (KPIs) for reducing carbon impact. A major focus is the adoption of circular economy principles, where outgoing and incoming tenants collaborate with landlords to minimise waste and maximise reuse of fit-out materials. The Guide also advocates for material passport systems, improving traceability and reuse of building components. Insights from Industry Leaders Neil Pennell, Head of Design Innovation and Property Solutions at Landsec, said:“The new edition reflects how office use has evolved over the past decade. People want workplaces that offer valuable experiences beyond a traditional desk setup. Sustainability is now a key business priority, and our guidance on circularity principles shows how multiple stakeholders can help reduce waste in the fit-out process.” Peter Williams, Senior Technical Advisor at Stanhope, added:“The Guide is ultimately about helping businesses attract and retain the best talent. The pandemic accelerated a shift in office design, and now workspaces must work harder to differentiate themselves. By prioritising sustainability, flexibility, and technology, businesses can create office environments that foster creativity and collaboration.” Richard Kauntze, Chief Executive at the BCO, commented:“The Guide to Fit-Out is a practical resource for today’s rapidly changing workplace landscape. Health, well-being, and sustainability are no longer optional—they are essential. This edition encapsulates the latest industry trends and is a must-read for anyone involved in office design and fit-out.” The new edition features case studies from award-winning projects and links to an extensive online library that will be regularly updated. Building, Design & Construction Magazine | The Choice of Industry Professionals
Rents for prime office space* across the globe rose by 0.3% and fit out costs by 0.2% in the final quarter of 2024, says Savills, as demand for top quality office space continues to grow in many markets around the world. According to Savills in its latest quarterly Prime Office Costs report, in the fourth quarter of last year, average net effective costs rose slightly, by 0.1%, continuing a moderate upwards trend of 1.9% over 2024. London (West End), Hong Kong, and New York (Midtown) remain the top three locations in terms of costs of the 35 markets Savills examines. Savills says that several markets saw significant cost changes last quarter, notably Dubai and Los Angeles, which witnessed a 7% and 5% net effective cost to occupier growth, respectively, supported by strong demand. EMEA saw some cost increases last quarter, with 0.7% growthin net effective costs to occupiers. The 7% increase in Dubai is the largest of any market and the result of significant rental growth driven by constrained supply at the top end of the market combined with a growing number of new entrants seeking premium space. In Asia Pacific, net effective costs saw a decline of 1% in Q4 2024. China prime offices saw a fall of 2.6% while Sydney and Melbourne, at the other end of the spectrum, saw costs grow by 1.7% and 1.6%, respectively, as a result of reduced landlord incentives in Sydney and rental growth in Melbourne. North America saw 0.7% net effective cost growth last quarter, matching the pace of growth in EMEA. Los Angeles Century City, in particular, saw strong rental growth, largely due to intense demand for space. In the office market overall – both prime and mainstream, Los Angeles saw the highest reported leasing volumes in any quarter since Q1 2020, a testament to the elevated demand in the market in 2024. Overall leasing activity increased by 18% in H2 compared to H1 2024, says Savills. In its complementary Market Makers report, which examines the top 10 prime office occupier deals by size in the same 35 cities, the international real estate advisor found that just over half (54%) of the deals examined were either new leases or expansions, reflecting positivity among major occupiers and the resilience of premium office space. Just over a third (33%) of the deals were for space of the same size, while 13% reflected downsizing. Globally, finance overtook tech as the number one industry for H2 2024 deals (figure 2) for both deal numbers and area transacted. Rick Schuham, CEO of Global Occupier Services at Savills, comments: “Ultra prime offices remain a key strategic asset for many businesses globally and almost all industries saw an increase in square footage transacted in H2 2024 compared to the first half of last year. In 2025, we expect continued rent and leasing volume growth as the net effect cost growth we have seen across the world over the past year is set to continue for the foreseeable future.” Sarah Brooks, Associate Director in Savills World Research team, says: “Even with the darkest clouds seemingly behind us, fiscal and economic concerns will likely remain a top concern for businesses globally. Demographic and behavioural trends will also continue to drive activity in the prime office sector, as firms continue to compete for talent. This competition drives both site and city selection for global businesses and will remain a top priority for 2025.” Building, Design & Construction Magazine | The Choice of Industry Professionals
SPECIALIST engineering consultancy Hexa has announced the opening of its new office in Sheffield, marking significant expansion into the North of England. In addition, Harry Davison and Jake Adams have been promoted to associates and will be leading the new Sheffield presence. Harry, a senior engineer, joined Hexa in 2021, bringing with him a wealth of experience in residential, commercial, and mixed-use projects. Jake, a structural technician, has been instrumental in the growth of Hexa’s Leeds office alongside director Richard Osbond since it opened in 2022, and brings a strong understanding of project delivery and client relationships. Harry Davison said: “This is a pivotal moment for Jake and I, as we spearhead Hexa’s growth in Sheffield. The city is undergoing a period of significant regeneration, and we are confident that Hexa can play a vital role in shaping the future of the city, and we are keen to meet like-minded people and have those conversations. Hexa has changed the skyline of Nottingham and Leeds; now it’s time to do it in Sheffield. “Having started as a student engineer and received great mentoring from all the senior Hexa team over the years, I’m also keen to help shape the next generation in the same way.” Jake Adams added: “We are committed to building strong relationships with clients and collaborators in Sheffield as we continue to immerse ourselves in networking and business development opportunities. We believe that our expertise, combined with our local knowledge, will enable us to deliver exceptional projects that meet the unique needs of the city. “We are both incredibly grateful to the leadership team at Hexa for backing our ambitions and to the senior team for being great role models. As two Sheffield locals, we are so motivated to deliver for our hometown and being able to live amongst a city we’ve helped to shape will be incredibly fulfilling. The new Hexa base is strategically located within Sheffield’s vibrant Heart of the City development. This prime spot provides easy access to key stakeholders, including architects, quantity surveyors, and other collaborators. The team has already secured several projects in Sheffield, including the prestigious West Bar development. The company is actively pursuing new opportunities and is confident that 2025 will be a year of significant growth for the Sheffield office. Richard Osbond, director at Hexa, said: “It’s great to be strongly kicking off 2025 with the opening of our office in Sheffield. Hexa has already secured several projects in Sheffield, including the prestigious West Bar development, which will allow our team to showcase its expertise in the region. “Both Harry and Jake bring a wealth of experience having supported our teams in Nottingham and Leeds, and have shown enormous passion in pursuing their professional goals as part of Hexa. I am confident in their ability to contribute to the city’s growth and in helping to deliver high-quality, sustainable projects.” For more information about Hexa, please visit https://www.hexaconsulting.co.uk/ Building, Design & Construction Magazine | The Choice of Industry Professionals
Wilten Construction has been awarded a second Design and Build contract at Gateway 14 by client Gateway 14 Ltd and Jaynic. The project involves the development of a state-of-the-art, three-storey Skills and Innovation Centre spanning 35,000 sq ft in the heart of Gateway 14. Designed to achieve BREEAM Excellent standards, the centre will focus on fostering emerging industries linked to green and digital skills, supporting high-growth start-ups, creating jobs, and stimulating the local economy. The 50-week construction programme is set to commence this month, running in parallel with the completion of Wilten Construction’s initial contract at Plot 1600 for Bauder. The Skills and Innovation Centre will feature: Upon completion, the facility will serve as a dynamic mixed-use hub attracting diverse business users and young professionals. Key benefits of the centre include: Naim Basha Director / Co-Founder Wilten Construction said: “Wilten is delighted to have been appointed for the second time by Gateway 14 and Jaynic for the Design and Build Contract for the Skills and Innovation Centre at Gateway 14, delivering our Wilten promise and maintaining a repeat business relationship. Having recently completed Space City Docks 3, 4, and 5 (Pioneer Park) at Leicester, and with an already established presence on site at Gateway 14, Wilten will add great value to this scheme. We look forward to undertaking this prestigious project that will have a positive impact on both the local economy and the community.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Quadrant has welcomed three new food and beverage tenants to YY London, its newly refurbished 415,000 sq ft office development in Canary Wharf. Leading the lineup is Brother Marcus, the acclaimed Eastern Mediterranean restaurant group, which will bring its signature brunch, mezze, cocktails, and wines to the destination. The brand has signed a 20-year lease on a 2,861 sq ft unit, with plans to open this summer. Joining the development is Hagen, the Danish espresso bar concept, which has taken a 1,141 sq ft space on a 10-year lease. This will mark Hagen’s seventeenth outlet, further expanding its presence in London’s specialty coffee scene. Both Brother Marcus and Hagen will be located on YY London’s ground floor, overlooking Jubilee Plaza, directly opposite the Jubilee Line underground station and the new waterfront Eden Dock. Quadrant has also secured a 9,500 sq ft letting with a major restaurant chain, set to be announced soon. Tristram Gethin, Founding Partner at Quadrant, commented:“We are delighted to welcome these exceptional brands to YY London. Their commitment to the development is a testament to the quality of the building and its growing role within the Canary Wharf community.” Quadrant acquired YY London in 2019 in a joint venture with funds managed by Oaktree Capital Management. The comprehensive refurbishment was completed in 2023, solidifying its position as a premier destination for businesses and hospitality alike. Building, Design & Construction Magazine | The Choice of Industry Professionals
Leading Manchester software services communications business, Voicescape, has relocated its headquarters to flagship office campus, Exchange Quay. The move sees the firm double its current office footprint as a result of sustained growth, both in terms of headcount and market share. Voicescape has agreed a 10 year lease on over 5,000 sq ft on the fourth floor of the ICE Building. Agents on Exchange Quay are Canning O’Neill and Colliers. Relocating from their former Manchester residence at Urban Splash’s Boat Shed, Voicescape will occupy a full floor suite where the team of 55 employees will service their expanding nationwide social landlords and local authority client base. Voicescape uses a combination of technology, behavioural science and data science to create customer communications technology that helps to increase efficiency and improves service levels. The business has ambitious growth plans and cites Manchester’s tech talent pool as a key driver in its decision to retain its headquarter operations in the city. Muhammed Shaikh, Head of Marketing at Voicescape, said: “As a Manchester based tech business, we are proud of our roots and have access to some of the best talent in the country. Moving into ICE at Exchange Quay gives us the space for our current employees, whilst also accommodating future growth, but it’s about much more than the footprint. The landlord’s forward-thinking attitude and the dynamic environment makes it an ideal location for us and the environmental focus aligns with our carbon reduction ambitions. As a business we are all about using technology for the good of people and so Exchange Quay’s tenant app and resident engagement was a real draw. We are looking forward to growing our business on the campus.” Les Lang, Director, Till AM, said: “Voicescape is a welcome addition to our tenant mix here at Exchange Quay and we know they are looking forward to being part of the community we have created and continue to invest in. They will join a significant number of expanding businesses and we are pleased that our tenant engagement and campus credentials continue to attract ambitious, leading organisations like this.” Dominic Pozzoni, Director, Colliers, said: “Following a great 2024, it is fantastic to start 2025 with another new business selecting Exchange Quay to accommodate its growth. Exchange Quay continues to appeal to an array of business sectors, providing superb office space within a vibrant and extremely well managed site, with exceptional on-site amenities and public transport links.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Railpen, manager of the £34bn railways pension schemes in the UK, has announced plans to redevelop 101 Bayham, its 22,000 sq ft office building in central Camden, London NW1, redefining the future of workspaces. Set for completion in Autumn 2025, the 1930s Art Moderne former factory is being reimagined by renowned architects, Henley Halebrown and Studio Ghazal, to create a contemporary headquarters building to suit companies in a wide range of sectors, including tech, media and creative businesses, education, financial services and healthcare. 101 Bayham is in Camden’s creative heart, just minutes from Camden Town Tube station, with corporate neighbours including BOSS, French Connection, Dr Martens, MTV, ASOS, Havas and Universal. With a meticulous approach to restoration and design, this workspace blends heritage with cutting-edge innovation and sets a new benchmark for excellence in Central Camden. The interior of the building has been thoughtfully planned, featuring an open staircase, 4.5m floor-to-ceiling heights in the reception, a co-working space, diverse seating in a refreshment area with scenic views, and office space arranged over four further floors. The top floor has been completely redesigned to include a 1,200 sq ft roof terrace, providing breathtaking views of Hampstead Heath through the city towards the West End, with extensive planting creating a harmonious blend of urban energy and nature. Reflecting its sustainability ethos, Railpen is targeting BREEAM Outstanding and an EPC A rating, with air source heat pumps providing heating and cooling, PV panels on the roof, openable windows, planting, and reduced embodied carbon through the restoration of an existing building. In addition, the lower ground floor features a 2,500 sq ft cycle suite, including space for 30 bikes and high-quality end-of-journey facilities. Maria Averkina, Asset and Development Manager at Railpen, commented: “With 101 Bayham, Railpen is completely reimagining a character building to create a modern, efficient workspace which maximises natural light and promotes productivity while meeting the highest sustainability and wellbeing standards. Combined with its location at the heart of Camden, it will appeal to both growing and established companies seeking a headquarters building with real presence.” 101 Bayham is the latest initiative by Railpen in the office market. Earlier this month, it announced the signing of Waystone as the final letting at 125 Wood Street, its recently refurbished 65,000 sq ft office near St Paul’s Cathedral. Railpen has also recently secured consent to redevelop Eastpoint Business Park in Oxford to create a 200,000 sq ft life sciences campus, as well as started development of Mill Yard, with Botanic Place in Cambridge to follow in the coming months. Edward Charles & Partners and JLL are the joint leasing agents for 101 Bayham. Building, Design & Construction Magazine | The Choice of Industry Professionals
Green Light for NXQ: Soller’s 18-Storey Office Development Gets the Go-Ahead Manchester City Council has granted approval for NXQ, an 18-storey, 120,000 sq ft office development by Soller Group, set to transform the corner of Lever Street and Great Ancoats Street. The project, designed by Howells, aims to deliver high-quality, sustainable office space in a city experiencing strong demand for premium workspace. The scheme will be marketed by Savills and Knight Frank. Daniel Barnes, office agency director at Savills, said:“NXQ is an exciting addition to Manchester’s office market, offering much-needed, top-tier sustainable workspace. With planning now approved, we are confident this development will attract a diverse range of occupiers.” The development will see the demolition of several existing buildings, with key heritage elements preserved. The former Bem Brasil restaurant at 32 Great Ancoats Street will be restored to its 1930s condition and incorporated into the new office block. Additionally, the facades of 56 and 58 Lever Street will be retained to maintain the area’s historic character. Sustainability is at the heart of the project, with Soller targeting a BREEAM Excellent rating. Nick Treadaway, founding partner and chief executive of Soller, commented:“We are thrilled to have secured planning consent for NXQ. The design blends heritage with modern innovation, creating a workspace that is both characterful and future-focused. We have worked closely with Manchester City Council to bring forward a scheme that meets the city’s growing demand for best-in-class office space.” The project team includes planner AshtonHale, landscape architect Planit, flood risk and drainage expert AKT II, and cost consultant AtkinsRéalis. Turner & Townsend is overseeing project management, with Savills and Knight Frank leading the commercial strategy. With approval now in place, work is set to begin on delivering this striking new addition to Manchester’s commercial landscape. Building, Design & Construction Magazine | The Choice of Industry Professionals
