Derwent London is moving forward with two significant office developments in central London as confidence returns to the capital’s commercial property market following a strong rise in leasing activity and rental growth. The developer has already begun demolition works at Holden House on Oxford Street, where a major retained-façade redevelopment will deliver around 133,500 sq ft of new office-led space opposite the Dean Street Elizabeth line station. Kier has been appointed under a pre-construction services agreement to oversee the main construction phase of the project, with completion targeted for the second half of 2028. At the same time, Derwent has confirmed it will progress the redevelopment of 50 Baker Street in London’s West End. Demolition works on the scheme are expected to begin in the coming months, with contractor Multiplex understood to be lined up to deliver the £150m project. Designed by architects AHMM, the Baker Street development will provide approximately 236,000 sq ft of new space within one of London’s strongest office markets. The decision to move ahead with both schemes follows what Derwent described as a strong period of leasing activity across its portfolio. This includes the successful pre-letting of its recently completed Network building, where rental levels reportedly exceeded expectations. Alongside its development programme, Derwent has also made significant progress with its asset disposal strategy. The company confirmed it has exchanged contracts on £278m worth of property sales as part of a wider three-year target to dispose of £1bn in assets. Chief executive Paul Williams said the business had experienced strong momentum driven by leasing success and rental growth across key London locations. He added that progress on disposals had enabled the company to proceed with the redevelopment of 50 Baker Street, where strong rental performance is expected to support future profitability and earnings. Derwent also confirmed it is continuing to advance plans for another major scheme at Old Street Quarter EC1. A planning application is expected to be submitted towards the end of 2026 for a large mixed-use campus on the 2.5-acre former Moorfields Eye Hospital site close to Silicon Roundabout. The proposed development is expected to become one of the company’s next major regeneration projects as demand continues to strengthen for high-quality office and mixed-use space in central London. Building, Design & Construction Magazine | The Choice of Industry Professionals

Talk Talk Business has leased 10,472 sq ft of office space in Building 1 at Exchange Quay in Manchester on a 7-year lease. The deal sees Talk Talk Business relocate its 136-strong team from Soapworks to the prominent waterfront office campus, with occupation expected mid-May.  The move follows the company’s recent demerger from the wider Talk Talk Group, marking a significant step in establishing its independent brand and operational footprint. The new, ground-floor space will provide a modern working environment tailored to support hybrid working, with a strong focus on collaboration and client engagement.  The office features multiple Teams-enabled meeting rooms, flexible collaboration areas and a dedicated demo suite showcasing Cisco Meraki technology.  This allows Talk Talk Business to demonstrate its products directly to clients in a live environment. Exchange Quay was selected for its strong connectivity, high-quality onsite amenities and flexibility for future growth.  Its established position within the Manchester City Region’s business and technology cluster ensures continued access to local talent and transport links, aligning with the company’s operational needs. Les Lang, Director, Till AM, investment managers for Exchange Quay commented: “This letting highlights the continued appeal of the campus to forward-thinking occupiers seeking high-quality, flexible workspace in a well-connected location.  Exchange Quay offers an exceptional amenity-led environment for businesses to grow, collaborate and attract talent and we look forward to supporting Talk Talk Business as they establish their new base here.” Ruth Kennedy, CEO, Talk Talk Business added: “Our move to Exchange Quay represents an important milestone following our transition to an independent business.  Remaining in the area was important to us, and Exchange Quay offers the ideal combination of connectivity, amenities, green space and flexibility.  The new office will not only support our hybrid working model, but also provide an enhanced environment to collaborate internally and showcase our technology to customers.” Joint agents for Exchange Quay are Canning O’Neill and Colliers. Building, Design & Construction Magazine | The Choice of Industry Professionals

Prescient Capital has secured funding to deliver a new £60m office development in Leeds, bringing forward one of the city’s most prominent new commercial schemes. The developer’s 31 Wellington Street project will replace the former Wellington Plaza building, which has now been demolished. The site sits opposite Wellington Place, in the heart of Leeds’ West End business district. Commercial property investment company BGO has provided a £27m loan to support the development of the new nine-storey building. The scheme will deliver 80,000 sq ft of Grade A office space and is expected to be ready for occupation by the end of next year. Work has already started on site, making 31 Wellington Street one of the few new office projects in Leeds with live construction and a clear delivery date. The scheme is being developed speculatively, reflecting confidence in the city’s office market and the demand for high-quality workspace. Prescient Capital said the backing from BGO was a major vote of confidence in both Leeds and the project. The company said there is already strong interest in at least two floors of the building, while Prescient itself plans to occupy one of the ground-floor units. The development comes at a time when Leeds is facing a shortage of new, high-quality office space. Agents for the scheme said demand for modern, well-located offices remains strong, with rents at 31 Wellington Street being quoted at £55 per sq ft. The building is expected to strengthen the professional core of the West End of Leeds, an area that has seen significant investment and growth in recent years. Its location opposite Wellington Place places it close to major employers, transport links, restaurants and amenities. Knight Frank, Fox Lloyd Jones and AC7 have been appointed to market the building, with office floorplates available from 3,000 sq ft. Building, Design & Construction Magazine | The Choice of Industry Professionals

JPMorgan Chase is moving closer to delivering Canary Wharf’s tallest tower after overcoming critical height restrictions linked to nearby London City Airport, clearing a major hurdle for its proposed £3bn headquarters at Riverside South. The Wall Street banking giant is now preparing a planning application for a 265-metre skyscraper that will surpass One Canada Square, which has dominated the Docklands skyline at 235 metres for more than three decades. Designed by Foster + Partners, the scheme will deliver approximately 3 million sq ft of Grade A office space. The development is intended to consolidate JPMorgan’s existing London operations into a single hub capable of accommodating up to 12,000 staff, establishing its largest base across Europe, the Middle East and Africa. Flight path constraints had posed a significant challenge due to Canary Wharf’s position within the airport’s safeguarding zone. Aircraft approaching London City Airport follow a notably steep glide path, imposing strict limits on building heights across the estate. However, following negotiations, an agreement has been reached allowing the tower to rise to its proposed height while maintaining operational safety. The Riverside South site, owned by JPMorgan Chase since 2008, already benefits from existing foundations and basement structures. This could accelerate delivery timelines once planning consent is secured, with construction expected to take around six years. Canary Wharf Group will act as co-developer on the project. Economically, the scheme is expected to provide a substantial boost. Estimates suggest it could inject up to £9.9bn into the UK economy and support more than 7,800 jobs across construction and associated industries. However, questions remain סביב the role of government incentives in unlocking the project. JPMorgan is understood to have sought clarity over business rates liabilities, with discussions reportedly including potential discounts to support the investment. A report from Tower Hamlets council indicated the bank had requested a long-term business rates incentive, with government sources suggesting progress may depend on certainty around its future tax burden. The debate has drawn mixed reactions. While Chancellor Rachel Reeves described the development as a “multi-billion-pound vote of confidence” in the UK economy, critics have raised concerns over offering tax breaks to major corporations. Despite this, the project signals renewed momentum for Canary Wharf’s commercial market. A series of recent commitments, including expansions from major financial occupiers, point to a broader recovery in demand for large-scale office space in the Docklands. If approved, JPMorgan’s tower will not only redefine the area’s skyline but also reinforce Canary Wharf’s position as a leading global financial district, at a time when confidence in large office developments is returning. Building, Design & Construction Magazine | The Choice of Industry Professionals

A hybrid planning application to transform the former GSK headquarters at 980 Great West Road in Brentford has been approved, paving the way for a sustainability-led mixed-use redevelopment. Buro Happold supported Hadley Property Group and the wider design team through the process. Spanning 13 acres, the scheme will deliver a new neighbourhood comprising residential, commercial, community, educational and third-sector spaces. It includes 2,300 homes, with 35% designated as affordable. The plans also aim to strengthen connections between Brentford town centre and areas north of the Great West Road, adding pedestrian- and cycle-friendly routes and improving access to the nearby park and river. Wayne Early, Director at Buro Happold, said: “We are immensely proud to collaborate with Hadley Property Group on yet another successful planning application, and especially this project with such a distinguished team of architects, landscape designers and consultants. Our expertise in MEP, energy and sustainability, and utilities infrastructure has helped to drive the success of this transformative, sustainable and community-focused redevelopment that will benefit Brentford for years to come.” Given the relatively young age of the site’s main ‘teardrop’ building, a full demolition and rebuild would have incurred significant embodied and operational carbon, as well as planning risks. Instead, Buro Happold set plot-specific circular economy targets. The approved proposals retain almost all of the extensive basement and include substantial retrofit across several plots. The site’s location beside the M4 brings noise and overheating challenges. Buro Happold used a bespoke parametric design tool to balance overheating, energy demand and daylight, enabling a passive, coordinated façade strategy expected to save the client millions by reducing the need for extensive comfort cooling systems. Passivhaus analysis has also been undertaken to support future certification. Building, Design & Construction Magazine | The Choice of Industry Professionals

Canary Wharf Group is preparing to bring forward another significant office retrofit on its Docklands estate, with plans progressing for the transformation of the former 33 Canada Square building. The landmark Norman Foster-designed office block has already secured planning consent for a substantial 545,000 sq ft upgrade and will be redeveloped as One Eden, a 17-storey scheme reworked by architect TP Bennett. The project is expected to move ahead once a pre-let agreement has been secured. Positioned next to Eden Dock, the redevelopment will introduce a range of new features designed to modernise the building and strengthen its connection to the surrounding public realm. Plans include new ground floor retail space and the potential addition of a rooftop destination restaurant, enhancing the building’s appeal as a mixed-use destination. At the heart of the scheme is a dramatic new atrium, intended to draw natural light deep into the floorplates while creating stronger links between the building and nearby green and waterside spaces, including Jubilee Park, Canada Square Park and Eden Dock itself. Sustainability is a central focus of the redevelopment. Canary Wharf Group plans to retain 97 per cent of the building’s existing substructure and superstructure, preserving more than 62,000 tonnes of concrete and significantly reducing embodied carbon. The upgraded building will be fully electric and will incorporate heat pump technology, alongside a suite of energy-efficient measures. These include high-performance glazing, upgraded HVAC systems, heat recovery ventilation, LED lighting and smart building controls, all contributing to an anticipated 44 per cent reduction in regulated carbon emissions. Additional features will include winter gardens within the atrium spaces, a rooftop terrace and photovoltaic panels to support on-site renewable energy generation. The scheme will also benefit from dual power supply resilience, supported by tenant generator capacity. One Eden is targeting a range of high-level sustainability and performance certifications, including BREEAM Excellent, WELL Platinum, NABERS 4.5-star, EPC A and WiredScore Platinum. The project reflects Canary Wharf Group’s ongoing strategy to reposition existing assets through large-scale retrofit, delivering modern, low-carbon workspace aligned with evolving occupier expectations. Building, Design & Construction Magazine | The Choice of Industry Professionals

Tishman Speyer is preparing a major refurbishment of 50 Pall Mall following its acquisition of the prime office building in the heart of St James’s, underlining its continued investment in central London. The nine-storey property, which offers 33,888 sq ft of Grade A office space, was acquired off-market from Lazari Investments, which had owned the asset since 2019. Currently around 87 per cent let, the building occupies a highly sought-after location close to Mayfair, Green Park and Piccadilly, with strong connectivity across multiple Underground lines. Originally constructed in 1913, the building has undergone several transformations, including a redevelopment in 1997 that retained its distinctive carved Portland stone façade, and a further upgrade in 2006 to bring it in line with Grade A office standards. Tishman Speyer now plans a comprehensive refurbishment to modernise the building and enhance its long-term appeal to occupiers. The proposals include a significant uplift in environmental performance, alongside improvements to internal amenities. Planned upgrades range from a redesigned entrance lobby to the introduction of a new roof terrace, reflecting growing demand for high-quality, experience-led workplaces in central London. The scheme will focus on repositioning the asset to meet modern ESG expectations, while maintaining the character of the historic structure. Efficient floorplates of around 4,000 sq ft are expected to be retained, offering flexible workspace suited to a range of occupiers. Martin Simonneau, managing director and regional director for Tishman Speyer UK, said the acquisition presents a rare opportunity to enhance a prime office building in one of the capital’s most prestigious locations. He added that the company intends to draw on its placemaking and development expertise to deliver best-in-class workspace, aligning with evolving occupier requirements around sustainability, amenity and design quality. The purchase of 50 Pall Mall further strengthens Tishman Speyer’s London portfolio and follows the completion of Angel Square in Islington in 2025. The developer is also progressing the large-scale redevelopment of Belvedere SW1, a 550,000 sq ft mixed-use campus in Victoria. The latest acquisition highlights ongoing confidence in prime London offices, particularly assets that can be repositioned through retrofit-led strategies to meet the next generation of workplace standards. Building, Design & Construction Magazine | The Choice of Industry Professionals

Architect Hopkins has revealed detailed proposals to transform 1 Embankment Place above London’s Charing Cross Station, reworking the ageing office building into a high-specification, low-carbon workplace and mixed-use destination. The scheme is being brought forward for developer Bridgemont and centres on a substantial retrofit of the Terry Farrell-designed property. Rather than demolish and rebuild, the plans will retain around 90 per cent of the existing structure, along with most of the current façade, while comprehensively overhauling the building internally and at street level. The redevelopment will provide 35,000 sq m of Grade A office accommodation, alongside new outdoor terraces, upgraded occupier amenities and a reimagined ground floor. A more premium mix of retail, food and leisure uses is proposed at lower level, with the intention of creating a livelier, more attractive destination in this high-profile central London location. A key part of the design is the opening up of the building at street level, particularly along Villiers Street. Active frontages and improved access to daylight are intended to strengthen the relationship between the building and the public realm, helping to create a more welcoming and better-connected urban environment. Sustainability is central to the proposals. The project is targeting a 70 per cent reduction in operational energy use, supported by all-electric building systems and integrated rooftop solar panels. The scheme is also aiming for leading environmental credentials, including BREEAM Outstanding, reflecting the growing demand for high-performance, retrofit-led commercial space in central London. In addition to the internal reconfiguration and energy upgrades, the wider plans include improvements to pedestrian routes around the site, reinforcing its role within one of Westminster’s busiest transport and commercial hubs. The proposal positions 1 Embankment Place as one of the capital’s most significant retrofit office opportunities, combining the retention of a recognised landmark structure with the delivery of modern workspace, upgraded amenities and stronger environmental performance. The plans have now entered public consultation ahead of a formal planning submission. Building, Design & Construction Magazine | The Choice of Industry Professionals