Landsec has announced the unconditional sale of Queen Anne’s Mansions (QAM) in SW1 to the Arora Group, in a £245 million deal that crystallises significant value and strengthens the company’s capital recycling strategy. The office building, originally developed by Landsec in the 1970s, is currently fully let on a lease running until December 2028. While the asset continues to generate stable rental income, much of its current valuation is tied to its long-term redevelopment potential. The transaction represents substantial early progress towards Landsec’s target of releasing £2 billion of capital from office assets by 2030. The strategy is focused on repositioning the portfolio towards holdings that deliver sustainable income growth and improved returns over the long term. Completion of the sale is expected in early December 2025, following the receipt of a 10 per cent non-refundable deposit. The £245 million sales price is in line with the asset’s expected book value, adjusted for income receipts and depreciation since the last valuation date. The disposal is anticipated to reduce Landsec’s loan-to-value ratio by 1.3 percentage points, to 38.4 per cent. As the transaction was achieved earlier than planned, the finance lease income originally due to be received across 2025 and 2026 will instead be consolidated as a capital receipt in 2025. While this reallocation will reduce EPRA earnings in FY26 and FY27, overall cash generation remains unaffected, with proceeds available for reinvestment into accretive opportunities. Mark Allan, Chief Executive Officer of Landsec, commented: “This sale provides clear evidence of recovery within the central London investment market and enables us to crystallise full value for this off-strategy asset sooner than anticipated. Including QAM, total disposals since March stand at approximately £500 million, ahead of expectations and underpinned by strong operational performance across the wider business. This represents encouraging progress towards delivering our long-term strategy.” The deal also reinforces signs of renewed confidence in London’s office investment market, with institutional and private buyers seeking prime opportunities to capitalise on redevelopment potential and long-term rental growth. Building, Design & Construction Magazine | The Choice of Industry Professionals

CBRE completes 24,360 sq ft deal at Liverpool John Moores University Liverpool John Moores University (LJMU) has agreed a three-year deal on 24,360 sq ft of Grade A office space at City Square, which will become temporary accommodation for teaching staff and students during the major transformation of the University’s Henry Cotton Building. Global real estate advisor CBRE acted for LJMU on the deal, the largest to complete in the city this year.    The fourth-floor office accommodation, on Tithebarn Street in Liverpool’s core business district, will be remodelled over the summer to meet the University’s needs, providing high-quality teaching and student space from next month.  LJMU has taken the final available floor in the building. LJMU’s £12.5m project to redevelop the Henry Cotton Building starts in October this year, and is earmarked for completion by July 2027. The works will decarbonise the building, provide flexible, modern new facilities for students and staff and create a new look. It will support the University’s commitment to sustainability and its ambition to reach net zero carbon. The City Square building, which sits in a major artery with access to the city centre, is spread over six floors and provides occupiers with a wealth of on-site amenities and facilities, including private roof terrace, cycle storage, flexible layouts and more.  Alongside the City Square deal, CBRE also acted for LJMU in a deal to sell the Jo Makin drama building to the Liverpool Institute of Performing Arts (LIPA) for an undisclosed sum.  The 13,551 sq ft building on Hope Place in Liverpool was ancillary space. Andy Byrne, Director, CBRE’s Office Agency team in Liverpool said: “It has been a privilege to work with the team at LJMU to secure accommodation at City Square, a significant deal in terms of significance and scale. The additional sale of the Jo Makin building forms part of the ongoing, wider LJMU property strategy and is an excellent new home for the LIPA.” Mark Askem, Director of Estate Development at LJMU, said: “We are pleased to have secured space in City Square to provide high-quality temporary accommodation while we redevelop Henry Cotton Building. City Square is in an ideal location within our City Campus, making it easily accessible for our students, staff and visitors. Our contractors are currently remodelling our leased space in City Square to meet our specific requirements and enable us to deliver high quality teaching, learning and research from September 2025.” Building, Design & Construction Magazine | The Choice of Industry Professionals

Mace Construct has been appointed as the main contractor for one of the City of London’s most anticipated developments, a 30-storey tower set to rise at 85 Gracechurch Street beside the historic Leadenhall Market. Commissioned by Hertshten Properties, the Woods Bagot-designed scheme will deliver around 235,000 sq ft of prime office space, replacing a 1930s block within the Leadenhall conservation area. The tower is designed to achieve BREEAM Outstanding certification, with an all-electric energy strategy, advanced mechanical systems, natural ventilation, and a commitment to urban greening. The site itself is steeped in history. Excavations have uncovered substantial remains of London’s first Roman Basilica. These will be preserved and displayed in situ as a new visitor attraction, curated in partnership with the Museum of London. This heritage element has shaped both the planning process and the design of the new building. Mace has now entered the pre-construction services agreement phase, with completion scheduled for 2030. Ged Simmonds, managing director of Mace Construct, commented: “85 Gracechurch Street represents a rare opportunity to create a sustainable, forward-looking office development that remains sensitive to its historic surroundings. Our focus is on collaborating with Hertshten Properties and the project team to deliver a building that enhances the City and supports the needs of future occupiers.” Ron Hertshten, chief executive of Hertshten Properties UK, added: “This project will deliver a state-of-the-art office building with approximately 235,000 sq ft of premium workspace and exceptional amenities. Designed to set new standards in sustainability, it will be a benchmark development for the City of London. With Mace’s extensive experience in complex, high-profile projects, we are confident in their ability to bring our vision to life.” The tower at 85 Gracechurch Street is set to become a landmark addition to the City, blending cutting-edge sustainable design with London’s deep-rooted history. Building, Design & Construction Magazine | The Choice of Industry Professionals

The transformation of the former Filton Airfield into one of the South West’s most ambitious new communities has taken another step forward, with YTL winning approval for Brabazon’s first major office building. Construction on the eight-storey, 123,330 sq ft development is expected to begin before the close of 2025, marking the start of a commercial chapter for the emerging neighbourhood. Positioned beside the new Brabazon railway station, the building will serve as both a workplace hub and a gateway for passengers arriving into the development by train. The Brabazon masterplan, overseen by Malaysian-owned YTL Developments, is nothing if not expansive. It promises thousands of homes, student accommodation, and sweeping green spaces, all built across the historic airfield that once saw the Concorde take to the skies. The forthcoming office will be the first of its kind on the site, designed to appeal to businesses seeking premium space without the constraints of Bristol’s city centre. Sustainability is at the heart of the project. Designs by AHR Architects target an EPC A rating and BREEAM Outstanding certification, alongside NABERS 5* and WiredScore Platinum standards for energy efficiency and digital connectivity. The building will also house a ticket office for the adjacent rail station, integrating public transport access directly into its footprint. The rail link itself is a key part of Brabazon’s vision. Work began earlier this year, with completion set for 2026, promising a direct and sustainable connection into Bristol’s core. For companies considering relocation, the combination of modern office space and rail accessibility could prove decisive. Seb Loyn, planning and development director at YTL Developments, believes momentum is now firmly on Brabazon’s side. “We’re creating more than just new homes,” he said. “We’re establishing a place where people can live, work, and connect. This first office building gives Bristol’s businesses a genuine alternative — a sustainable, well-connected space to grow.” With Waitrose already confirmed as an anchor retail tenant and new community amenities under way, Brabazon is rapidly taking shape as a mixed-use destination. Hundreds of homes have been completed and are now occupied, and by 2026 the site will also boast student housing and a repurposed aircraft hangar serving as a community hub. For a city wrestling with a shortage of Grade A office space, the arrival of Brabazon’s first commercial building is timely. It signals not only YTL’s commitment to the project but also the evolving identity of the development — from a residential expansion into a full-scale urban district with a strong business presence. If the project maintains its current pace, Brabazon will soon offer Bristol a rare combination: the quality and amenities of a city-centre location, with the space and transport links of a purpose-built new town. For local businesses looking beyond the confines of central Bristol, that could prove an irresistible proposition. Building, Design & Construction Magazine | The Choice of Industry Professionals

Flexible workspace provider 2-Work has announced it will open its fourth flexible office space in the heart of Leeds city centre, in partnership with the building’s owner, Glenbrook. 2-Work St Albions will open towards the end of September in the Grade II listed Albion Court, a former church institute with stunning gothic revival architecture, located in the bustling shopping district and just a short walk from Leeds rail station.  Following a comprehensive, design-led refurbishment, St Albions will offer 8,000 sq ft of coworking space, meeting rooms, and private offices across two floors, creating a high-quality, flexible environment for start-ups, growing businesses, and established teams seeking a central base with both character and convenience. The move marks the next phase of growth for the award-winning provider, which now operates four workspaces across Leeds, as well as a further location at Tileyard North in Wakefield.  The expansion comes in response to rising demand for flexible, community-driven spaces that support hybrid working and the growth of SMEs across the region, with Leeds being named as the 6th most popular location for coworking in the country. “We started in Leeds during the pandemic with aspirations to support businesses,” said Gal Leslie, Director at 2-Work. “Little did we know that this would turn into a growth in the region enabling us to support all types of businesses from start-ups to corporates and beyond. Watching these businesses thrive due to their need for flexible, collaborative, forward-thinking workspaces has been the key driver for our expansion plans. Long may it continue.” Olivia McDowell, Senior Asset Manager of Glenbrook, said: “We’re thrilled to welcome 2-Work to Albion Court. Their professional flex space offering not only expands the range of studios available but also brings valuable new amenities for our existing tenants. This collaboration between landlord and flex offer marks an exciting step in creating a vibrant, inspiring workplace community here at Albion Court.” Further details on 2-Work’s locations and upcoming openings can be found at www.2-work.co.uk, or by emailing st.albions@2-work.co.uk Building, Design & Construction Magazine | The Choice of Industry Professionals

A major redevelopment is set to transform a prominent commercial building at the gateway to London’s Hatton Garden jewellery district, following unanimous approval from Camden Council. The scheme, designed by architecture practice DSDHA and backed by Morgan Real Estate and BNF Capital, will see the five-storey office block at 19 Charterhouse Street extended to ten storeys and comprehensively refurbished. Originally constructed in 1991 as part of the De Beers diamond campus, the building will retain much of its existing structure under a high-quality, low-carbon retrofit strategy. The extension will add 2,780m² of workspace, bringing the total to 12,800m². Roof terraces at the seventh, eighth and ninth floors will incorporate greenery and provide striking views towards St Paul’s Cathedral. The current stone-clad façade, often described as “fortress-like”, will be replaced with Portland stone, a fluted zigzag profile at roof level, and bronze-coloured windows. Central to the design is a high-performance building envelope, intended for long-term durability and enhanced thermal performance, aiming for a BREEAM Excellent rating. The development will also be entirely car-free, reflecting its strong sustainability credentials. The project will integrate affordable jewellery-making workspaces into the scheme, supporting the area’s historic industry. While Hatton Garden planning policy calls for 50 per cent of new commercial space over 200m² to be allocated to affordable jewellery use, this scheme will provide 520m² — around 19 per cent of the total. However, all units will be offered at a peppercorn rent, with terms agreed alongside Camden’s inclusive economy team. DSDHA director Deborah Saunt described the project as more than just an exemplary mixed-use retrofit. She emphasised its potential to enhance biodiversity on the historic site of the River Fleet, promote the cultural sustainability of Hatton Garden’s jewellery trade, and strengthen connections between the City of London and surrounding boroughs. The development will sit opposite the soon-to-open London Museum at Smithfield and feature a redesigned ground-floor lobby with hospitality and retail space alongside the specialist jewellery workshops. Saunt added that the scheme could contribute to the growth of the so-called “City Halo” — a vision for softening the City’s edges through improved urban integration. Building, Design & Construction Magazine | The Choice of Industry Professionals

Railpen, manager of the £34bn railways pension scheme in the UK, has secured consent from Camden Council to refurbish 26 Red Lion Square, its 106,584 sq ft (NIA) speculative office development in Holborn.  Railpen’s plans involve upgrading eight floors of office space to a Grade A standard, enhancing the amenity space on the ground floor, and constructing new roof terraces with panoramic views of St Paul’s and the West End. The completed development will be repositioned as a new HQ targeting major occupiers and fostering a sense of community for future occupiers. Designed by Stiff + Trevillion, Railpen’s proposals include new and improved external façades on Theobolds Road and Red Lion Square to promote high quality design in Holborn, and new retail and F&B units on Theobalds Road.  Railpen is targeting BREEAM “Outstanding” for the project by demonstrating a reduction of on-site energy use and water consumption.  This is in addition to the embodied carbon savings that will be achieved through the refurbishment of an existing building. The consent is timely, given Holborn’s growing appeal as a location among occupiers and investors, driven in part by its equidistant position between Tottenham Court Road and Farringdon Elizabeth Line stations.  Various developments are underway in the area, including the transformation of nearby Sicilian Avenue and the recent purchase by Whitbread of 35 Red Lion Square.  Holborn has also experienced a surge in co-working providers opening in the area, with Runway East and Uncommon joining WeWork in creating flagship sites.  Complementing the growing demand from occupiers and investors, Camden Council is proposing a series of major enhancements to Red Lion Square and the surrounding streets, improving the public realm and enhancing the square as a key green space in Holborn. Emily Atkinson, Asset Manager at Railpen, said: “We welcome the Council’s decision, which facilitates our plans to deliver a high-quality sustainable refurbishment of a significant office building that will help address the growing demand from occupies for Grade A space in Holborn.  This is an exciting time for the area, and 26 Red Lion Square will make an important contribution to its ongoing transformation as a prime choice for office occupiers.” The refurbishment is the latest in a series of office initiatives by Railpen in central London.  The company will shortly complete the refurbishment of 101 Bayham in Camden, and has several office projects proposed and underway in the City, including the redevelopment of 12 Smithfield, plans for which are due to be submitted later this year.  These are in addition to its significant office-led mixed-use portfolio in Cambridge, where Railpen has a pipeline of over 1.5m sq ft of development on-site or in planning. Railpen’s advisory team comprises Savills and Farebrother’s (leasing), Stiff + Trevillion (architect), and Ridgelift (development management). Building, Design & Construction Magazine | The Choice of Industry Professionals

A major new development is set to redefine Leeds’ South Bank, with the first phase of the Florence Square masterplan gaining approval. This ambitious scheme will deliver two striking office buildings, providing more than 220,000 sq ft of premium workspace, alongside extensive landscaped public spaces designed to create a new destination for the city. Developed by Southside Leeds Ltd, a joint venture between Shelborn Asset Management and Stamford Property Holdings, and designed by DLA Architecture, the project places public realm at the heart of its vision. A central public square will form the focal point of the scheme, complemented by a pocket park in the north-east corner, which will act as a welcoming gateway just 500 metres from Leeds train station. The design prioritises pedestrian movement, with a car-free environment and improved connections to both the city centre and the Holbeck Village conservation area. The two office buildings, Block A and Block B, will sit prominently along Water Lane. Block A will rise to nine storeys, with seven floors of office space, while Block B will have 11 storeys, nine of which are dedicated to offices. The ground floors will house a mix of cafés, restaurants, and retail units, encouraging activity throughout the day. Rooftop terraces and business lounges will provide elevated views across the city skyline, creating attractive spaces for work and relaxation. The architectural design has been shaped to integrate seamlessly with the surrounding urban fabric. Building heights step up from the lower-rise conservation area to the west towards the taller Bridgewater Place to the east. The façades reference the site’s industrial past, using red and brown tones and terracotta cladding that nod to the historic flax weaving industry once centred here. Fenestration patterns and materials further reinforce this connection to local heritage. Florence Square’s development also acknowledges the rich history of the site. Once home to Water Lane Mills, later known as Hope Mills, it was a hub for Leeds’ thriving flax industry, producing fine linens and supporting generations of textile workers. Remnants of former residential streets such as Front Row and Back Row remain visible, offering a tangible link to the area’s past. Looking ahead, outline consent is already in place for up to 500,000 sq ft of future development, which could bring further commercial, residential, leisure, or hotel space to the area. The project’s sustainability ambitions are high, with performance standards such as NABERS and ActiveScore embedded from the outset to ensure healthier, lower-impact working environments. As Leeds continues to evolve, Florence Square is poised to become a key part of its transformation – blending history, architecture, and vibrant public space to create a modern workplace destination with lasting community value. Building, Design & Construction Magazine | The Choice of Industry Professionals