City of London approves landmark redevelopment of 75 London Wall

LONDON, UNITED KINGDOM, June 10, 2024 /EINPresswire.com/ -- A joint venture of real estate investors Gamuda Berhad and Castleforge Partners has obtained full consent for the marquee ESG-inspired redevelopment of 75 London Wall.

The existing building, formerly known as Winchester House and previous home to Deutsche Bank, will create a new standard in sustainable, best in-class office that places the experience of workers, shaped by an environmentally-minded ethos, at the forefront of design and experience.

Following constructive engagement with the City of London planning authorities, as well as incorporating the perspectives of local stakeholders and the surrounding community, the new 75 London Wall will set a standard for sustainable office space, designed to provide a distinctive occupier experience that support the attraction and retention of high-talent, high-skilled workers within the City.

Key features of the Grade A+ accomodation include:

- Target BREEAM ‘Outstanding’
- Target WELL Core ‘Platinum’
- Target NABERS UK 5 Star Design for Performance
- Minimization of whole-life carbon emissions, retaining 89% of existing built fabric
- Flexibility of space
- Focus on daylight levels

In addition to a world-class occupier experience, the new 75 London Wall is designed with the local community in mind and will include:

- a new cultural forum space that will create a venue for events, performances and public speaking
- ’Priors Garden’, a new public space designed by the award-winning Andy Sturgeon Design, will create a green place to pause on an enhanced pedestrian route that links to Austin Friars via a historic city passageway

The plans, developed by London-based architects Orms, will see the building’s capacity increased by 40% to 688,000 sq ft as part of a joint venture with Malaysia-based engineering, property and infrastructure company Gamuda. Multiplex has been selected as the preferred main contractor.

75 London Wall’s unique design extensively reuses the existing building, “growing” the original architecture by introducing new storeys as a stacked series of layers that subtly change in material and detailing as the building rises to introduce lightness to the top of the structure. This approach will ensure that the development looks like “one building”, rather than a traditional “building and extension”, and as such was judged to better complement local conservation areas.

The full redevelopment is anticipated to be delivered by Q3 2027.

Michael Kovacs, Founding Partner of Castleforge, said:

“In order to bring workers back into the office, occupiers will increasingly look for spaces that set them apart from their competitors. We never bought the idea that office working was ‘dead’ and so it is proving as people flock back to Central London.

“The planned refurbishment of 75 London Wall will create best-in-class office spaces, in a top location with the significant amenities blue chip companies now demand for their people.

“The building will also set a new standard for sustainability in London office space making a lease here a win for the planet and a win for occupiers’ ESG strategies.”

Chu Wai Lune, Chief Executive Officer of Gamuda Land, said:

“The granting of full planning consent marks a significant step forward for 75 London Wall. Construction can now begin, allowing Gamuda and Castleforge to realize our vision for the site: bringing to life sustainable office space that sets a new standard for Grade A+ in London, as a gateway city to the world. This approval signifies a key milestone in the project's development.

It also further solidifies Gamuda’s presence in the UK property market, where we aim to build a portfolio of real estate investments that deliver compelling returns for our shareholders”.

Colin McColl, Director at Orms, said:

“75 London Wall sets a new reference point for the upgrade and extension of headquarters office buildings. This is the kind of project our cities need: sensitive to context and respectful of the existing grain, while taking advantage of opportunities to improve the building offer, both inside and out.

"Our vision for 75 London Wall is not merely about redevelopment; it's about setting a new standard for sustainability, adaptability, and community enhancement in the heart of the City of London.”

Gamuda and Castleforge’s vision for the site are informed by their internal research, which shows that demand for new office space will be concentrated primarily in best-in-class spaces with luxury amenities and prime locations, and in flexible office spaces which allow shorter leases and provide hospitality for small- and medium-sized companies.

A recent poll of more than 1,800 office workers around the UK, commissioned by Castleforge, found that people are ready to leave their sofas and brave the commute. These attitudes are particularly strong amongst 18–24-year-olds, with 59% saying they are less productive when working from home.

Caroline Lott
Higginson Strategy
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