The transformation and extension of 76 Southbank, a Grade II listed building adjacent to the National Theatre, has successfully reached practical completion – delivering 300,000 sq. ft. of cutting-edge and sustainable office space. The scheme has been delivered with Stanhope Plc as Development Manager, LaSalle Investment Management as asset manager and was overseen by Multiplex as the Main Contractor.   PayPal, a global leader in digital payments, will be the building’s first occupier, after signing a lease for 40,000 sq. ft. of the top floor of the building. Targeting a Q2 2026 occupancy, PayPal selected 76 Southbank based on the building’s amenity offerings, proximity to their current City offices and its transport connectivity. Six stations, including Waterloo, Charing Cross and Blackfriars, are within a 10-minute walk from 76 Southbank, providing direct access to the West End, City of London and Canary Wharf. The completed refurbishment features impressive outdoor terraces spanning 50,000 sq. ft., offering panoramic river views alongside biophilic landscaping. A double-height entrance lobby provides a generous office reception, with a striking centrepiece staircase serving as a visual focal point. 76 Southbank prioritises occupant wellbeing, with the revitalised building offering adaptable office spaces designed to enhance productivity and comfort while fostering collaboration. Forward-thinking design principles prioritise the end user experience, such as touchless entry systems and curated amenity areas. The iconic space sets a new standard in low-carbon office design. The project construction has embraced a circular economy approach, prioritising off-site fabrication to minimise on-site waste and incorporating reused steel in its construction. This dedication to sustainability is embodied through energy-efficient solutions that have been installed whilst protecting the building’s brutalist heritage. The project is targeting a BREEAM Outstanding certification and NABERS Design Reviewed Target Rating of 5 Stars.  The transformation project renews the last significant work of Sir Denys Lasdun, the renowned architect behind iconic structures such as the National Theatre. The remodelling and refurbishing of this historically significant Grade II listed building has been carried out with the utmost sensitivity, ensuring that 80% of its iconic structure is preserved for future generations. The architectural redesign has been led by AHMM. Stanhope are the Development Manager and LaSalle Investment Management are the asset managers for the project. Global alternative asset manager Cheyne Capital Real Estate provided the financing for the project. Leading real estate agencies CBRE and JLL have been appointed as agents for 76 Southbank. JLL acted for Paypal. Kevin Darvishi, Head of Leasing at Stanhope said: “Practical completion of 76 Southbank and the arrival of PayPal will breathe new life into this brutalist icon. Built for the future, 76 Southbank is accessed from a spectacular triple height reception and provides large floor plates that all benefit from unrivalled views of the Thames, in a thriving part of central London. An occupier of PayPal’s calibre underlines market demand for low-carbon and amenity-rich workspaces.” Chris Lewis, Managing Director, International Accounts, Europe, LaSalle Investment Management said: “The completion of 76 Southbank marks a significant milestone. Its strong location, best-in-class amenities and historical significance position it as a standout commercial property in central London. PayPal’s decision to occupy space here underscores the building’s appeal, and we look forward to welcoming their employees to this exceptional development next year.” Simon Bladon, PayPal UK CEO said: “This is an exciting time for PayPal in the UK, and we’re looking forward to welcoming in the next chapter with a brand new home on London’s iconic South Bank.” Building, Design & Construction Magazine | The Choice of Industry Professionals

Southbank is poised to become one of Central London’s most dynamic commercial hubs, with a larger office development pipeline than any other market in the capital, according to new research from global real estate advisor CBRE. CBRE’s latest data reveals that Southbank’s total office stock stood at 19.5 million sq ft at the end of 2024, with the potential to expand to 21.3 million sq ft by 2029. With 4.1 million sq ft of development and refurbishment projects currently under construction or with planning consent, the area is on track for significant growth in both volume and value. Notably, CBRE anticipates that by 2029, Southbank will overtake the wider Docklands market—including Canary Wharf—in terms of total office stock. This expansion is set to drive strong rental growth. Prime rents in Southbank are forecast to rise from £80psf to £100.50psf by 2029, representing an annual growth rate of 4.7%. Only the City core is expected to outpace this with a projected growth of 5% over the same period. Simon Brown, Head of UK Office Research at CBRE, commented:“With supply constrained in areas like Mayfair & St. James’s and the City Core, markets that can deliver large-scale, grade-A office space are best positioned to thrive. Southbank, alongside well-connected and established areas like Docklands, offers an increasingly compelling option for occupiers seeking high-quality space in the heart of London.” Southbank’s growing appeal is underpinned by its unique blend of cultural attractions, green open spaces, and excellent transport connectivity. The area is also rich in residential stock, with three of the largest Inner London boroughs—Wandsworth (155,000 dwellings), Lambeth (147,000), and Southwark (145,000)—located within its boundaries. Between 2025 and 2029, Southbank is expected to deliver 4,200 new residential units, second only to Docklands, which is forecast to add 7,600 homes. Alastair Perks, Head of London Development & Asset Renewal at CBRE, added:“It’s an area buzzing with cultural amenities and entertainment venues. Combined with strong infrastructure and green spaces, the case for continued office development and investment is clear. Sustainability is also front and centre, with major schemes designed to support Southbank’s ambition to become a net-zero neighbourhood by 2030.” Building, Design & Construction Magazine | The Choice of Industry Professionals

YTL Developments has now submitted a planning application for a landmark Grade-A office building that will be the gateway to Brabazon, located next to the new train station.  The new eight-storey office development will be the first permanent commercial space at Brabazon and marks the first step in delivering a business address like no other in North Bristol. Designed by AHR Architects, it will deliver the Grade-A office specification businesses need, as well as the amenities and connectivity that their high-skilled staff expect.  At a time when there is a shortage of new commercial buildings in Bristol city centre, Brabazon will now offer the same quality space occupiers would expect from a prime urban location. The new offices will meet modern sustainability standards, targeting EPC A rating, BREEAM Outstanding and NABERS 5* ratings as well as WiredScore Platinum certification for connectivity.  But unlike Aztec West or other dedicated business parks, Brabazon is also a more accessible location. Not only is the new building located immediately above the new station, but it will also actually house a ticket office, making it just the third in the region after Bristol Temple Meads and Bristol Parkway to be staffed.  “The start of construction on the new station at Brabazon earlier this month is a game changer for North Bristol.   “At a time when Central Bristol is struggling to meet demand for top-quality commercial space, now city centre occupiers have a genuine and sustainable alternative. Brabazon will offer all the advantages of the city centre and amazing road access to the M4 and M5, but none of the compromises of traditional uninspiring, car-dependent business parks.  “The first new Grade A office space at Brabazon is a landmark moment for the new neighbourhood. Located next to the new train station at Brabazon, it will provide the area’s world-leading commercial cluster with the space, connectivity and opportunity to grow and expand.”  The new train station will connect to Bristol Temple Meads in less than 15 minutes, providing easy access to the Ministry of Defence at Filton Abbey Wood and to Bristol University’s new Temple Quarter Campus.  In addition, the thousands of staff working at engineering, aviation and technology companies like Airbus, GKN and Rolls-Royce, will now be able to take the train to work from Lawrence Hill, Stapleton Road and Ashley Down. The University of the West of England’s Frenchay Campus is also less than 1.5 miles away from the new station and office, while the M4 MetroBus will connect directly to Bristol Parkway station.   Alongside the connectivity, it will also offer employees all the amenities that they would expect of city centre office space. There will be a retail dining space on the ground floor for food, spilling out onto the public square that will be the gateway to the new neighbourhood. 107 cycle spaces and shower facilities will encourage office staff to walk, run or cycle to work. And with the new Arena coming soon, the offices at Brabazon will offer all the lifestyle advantages needed to attract and retain high-skilled talent.  This new landmark will comprise 123,330 square feet of Grade A office space in total, located in the heart of North Bristol’s world-leading commercial cluster, where approximately 48,000 people work in high-value manufacturing, life science and technology industries. Up to 800 people are expected to work in the building when it is fully occupied. Typical floor plates measure 13,190 sq ft of net useable space, with the ability to subdivide space into a number of different combinations.  YTL Developments has submitted a planning application for the new office building at Brabazon this week. Subject to planning approval, construction would be undertaken by the YTL Group’s in-house contracting firm – YTL Construction UK – and is expected to complete in early 2028.   The new commercial buildings are part of YTL Developments’s approved masterplan for Brabazon, which includes over 6,500 new homes, 2,000 beds of student accommodation, and 86 acres of public squares, parks and playing fields. The 3.7m square feet of commercial space will support up to 30,000 jobs, while over £100 million is being invested in sustainable transport infrastructure.  Brabazon is already established as one of the best new residential addresses in the West Country. The largest dedicated student accommodation project in the region is currently under construction, while the innovative Boxworks container-based workspace studios are already incubating a new generation of early-stage and start-up businesses.  The announcement of the first permanent commercial space at Brabazon is the next stage in the evolution of this award-winning new city district into a thriving new neighbourhood for Bristol.   Adam Spall at AHR Architects said:  “This new first office building at Brabazon makes a bold statement. It sets a new standard for sustainable design that aligns with the environmental goals of a modern business. The thoughtfully designed ground floor seamlessly blends the private office space with the station entrance, publicly accessible cafe and vibrant public square.  “Offering cutting edge amenities, rail connectivity and an inspiring workplace environment, the new building will provide businesses with everything they need to attract the next generation of talent to Bristol.”  Visit Brabazon.co.uk to learn more about Station Office building. Building, Design & Construction Magazine | The Choice of Industry Professionals

Aviva Investors, the global asset management business, announces it has completed a significant letting agreement at its flagship One Liverpool Street development in the City of London, with global real estate adviser Knight Frank. The agreement will see Knight Frank take 72,400 sq ft in the building on an 18-year lease, in what will become its London and global headquarters. It is the second major letting completed by Aviva Investors at One Liverpool Street, and follows the news in 2023 that Dentons, the world’s largest global law firm, would be occupying almost 68,000 sq ft of space in the building. Due to complete in Q1 2026, One Liverpool Street will provide 176,000 sq ft of best in class office and retail space, spread across the ground and ten upper floors. It forms one part of a substantial development scheme that also includes One Liverpool Street’s sister scheme, 101 Moorgate, which itself provides over 70,000 sq ft of office and retail space over its ground and eight upper floors and roof terrace. The two buildings sit at the eastern and western entrances to the Elizabeth Line at Liverpool Street station respectively. Both sites are being developed to create office headquarters that are fit for the future, with energy-efficiency being a prominent consideration in their design, targeting a BREEAM ‘Outstanding’ rating for sustainability performance and EPC A. They will also feature all-electric energy solutions. The measures are expected to lead to an overall carbon saving of 33 per cent over current Building Regulations, whilst lowering ongoing energy needs and costs for occupier firms. Sitting in the heart of the Square Mile, the scheme also supports the City of London’s strategic priority to deliver a minimum of 1.2 million sq m additional office floorspace by 2040 under its ‘City Plan 2040’. One Liverpool Street forms part of a significant development pipeline for Aviva Investors in the City of London. Alongside 101 Moorgate, a public consultation has also recently opened on Aviva Investors’ plans to redevelop 130 Fenchurch Street. Ed Atterwill, Head of Central London at Aviva Investors, said: “Attracting a business such as Knight Frank is testament to the quality of our development programme and the buildings that we create. We are delighted to welcome them to One Liverpool Street. This is a scheme designed to equip world-leading businesses with a truly flagship building, featuring best-in-class facilities and modern technologies, whilst sitting in one of London’s best connected locations. We believe this is a development which can help the City get ready for the future by creating flagship assets that continue to attract world-leading businesses to the heart of the Square Mile.” William Beardmore-Gray, Senior Partner and Group Chair at Knight Frank, added: “We are absolutely delighted to have secured a truly best-in-class building located in the heart of London as our new Global HQ. Our goal was always to secure a state-of-the-art space with exceptional ESG credentials, that embodies our market-leading brand, delivers what we need and sets us up for the future – 1 Liverpool St represents that. With excellent transport links surrounded by restaurants, shops, green spaces and much more, it will be an exceptional place for our people to come together, work, collaborate and welcome our clients.” Building, Design & Construction Magazine | The Choice of Industry Professionals

Multiplex is gearing up to commence the main build phase of the £1bn Fifty Fenchurch Street development in London this summer. With Keltbray now completing piling and excavation works, Multiplex is preparing to take over as the main contractor for the 36-storey, 650,000 sq ft office tower, developed by AXA IM Alts. Awarded the contract in June 2024, Multiplex aims to complete the project by 2028. AXA IM Alts previously worked with Multiplex on the construction of 22 Bishopsgate, which was completed in 2020 and has recently reached full occupancy. Designed by Eric Parry Architects, Fifty Fenchurch Street is set to be one of the UK’s most sustainable and biodiverse high-rise office buildings, targeting BREEAM Outstanding and net zero in operation. The tower will feature internal and external gardens on the 10th floor, along with over 40 planted balconies and terraces. Each upper-level office floor will include two terraces with shrubs and flowering plants, enhancing both biodiversity and employee wellbeing. The development will also incorporate a new subterranean livery hall for The Clothworkers’ Company and the restoration of Lambe’s Chapel Crypt beneath the tower. Rob Samuel, UK head of development at AXA IM Alts, commented:“Our success at 22 Bishopsgate confirmed the importance of designing workspaces that evolve with occupiers’ needs, encouraging employees to return to the office. At Fifty Fenchurch Street, we are delivering exactly that—a landmark structure that blends best-in-class office space with green public areas while preserving the City of London’s heritage.” Fifty Fenchurch Street is set to redefine sustainable office design in the capital, offering a future-focused workspace that integrates nature, innovation, and history. Building, Design & Construction Magazine | The Choice of Industry Professionals

AXA IM Alts, a global leader in alternative investments with €186 billion of assets under management[1], is set to follow completion of piling and excavation works with the commencement of main build construction this summer at its latest flagship London office development, Fifty Fenchurch Street. The Main Works contract for the landmark 36-storey, 650,000 sq ft development has been awarded to Multiplex Construction Europe, with the development expected to complete in 2028. AXA IM Alts used the same contractor to construct 22 Bishopsgate which set a new quality benchmark for prime office space when it completed in 2020 and has recently achieved full occupancy. This successful milestone reflected both London’s status as a global hub for business and finance as well as the continued strong demand for well-located offices that integrate advanced technology, sustainability and amenities. Designed by Eric Parry Architects, Fifty Fenchurch Street is set to be one of the UK’s most sustainable and biodiverse high-rise office buildings, targeting BREEAM Outstanding and net zero in operation. It will be the first building of this scale to incorporate such extensive vertical landscaping in the City of London, comprising 10th floor internal and external gardens designed by the architecture and urban design studio DSDHA and more than 40 planted balconies and terraces, collectively introducing over 70 species of plant life to the site. Each upper-level office floor will have two terraces with shrubs and flowering plants, providing office staff with direct access to nature and fresh air from their workspace. The building’s abundant greenery will be seamlessly integrated with state-of-the-art technology and wellness-led amenities to deliver a future-focused, people-centric workplace for generations to come. The expansive urban greening continues at the ground plane with the creation of further gardens inspired by the original fenlands which once populated the area surrounding Fenchurch Street.  The gardens also feature the Medieval Church Tower of All Hallows Staining as a spectacular historic centrepiece nestled within lush vegetation, trees and reed beds, all above a substantial new subterranean Livery Hall for The Clothworkers’ Company. Together with the reinstatement of Lambe’s Chapel Crypt beneath the new office tower, these initiatives are part of a broader ambition to integrate London’s medieval heritage into modern urban development, ensuring the preservation and public accessibility of these historic structures.  Rob Samuel, UK Head of Development at AXA IM Alts, commented: “Our success at 22 Bishopsgate has confirmed the importance of tailoring buildings to align precisely with the evolving needs of occupiers to create high-quality, innovative workspaces that make employees want to come to the office. At Fifty Fenchurch Street our aim is to deliver exactly that, creating a landmark structure that will be both one of London’s most biodiverse office towers and combine best-in-class workspace with green, accessible public areas that uniquely incorporate heritage buildings that will enrich the City of London’s landscape.” Building, Design & Construction Magazine | The Choice of Industry Professionals