Green light for three new City of London retrofits

The City of London Corporation has granted approval for three separate planning applications to upgrade offices across the Square Mile.

The buildings at 1 Basinghall Avenue, 3 Lower Thames Street and 75 London Wall, will receive an uplift in commercial and amenity space and help the City meet its net zero goals.

Thousands of tonnes of carbon emission are expected to be saved through the retention and reuse of a majority of existing structures and materials.

The three sites will also receive energy efficiency upgrades and sustainable landscaping features, including:

• LED lighting and heat pumps
• Rain gardens
• Wildflower green roofs
• Cycle parking

One of the project’s goals is to contribute to meeting the need for A-Grade office space, outlined in the City Corporation’s local plan (City Plan 2040), and contribute to the ‘Destination City’ objective to drive more footfall into the Square Mile.

The three sites will also feature a range of community features including urban greening, public art and play spaces, space for cafes/restaurants and rooftop terraces.

This follows the recent appointment of Multiplex to build a biodiverse office tower in the City of London on behalf of AXA Investment Managers.

Chair of the City of London Corporation’s planning and transportation committee, Shravan Joshi, said: “Attention is always drawn towards the latest large new office developments in the City, but when it comes to retrofitting, the City is leading the way on both policy and delivery, accounting for around half of all major retrofit applications across Greater London.

“It signals once more to investors that the Square Mile is open for sustainable business.

“With the built environment sector accounting for around 40 per cent of total carbon emissions, retrofitting is crucial for meeting our net zero goals. 

“With these three retrofit applications, future office tenants and their employees will enjoy a well-connected, high-quality office space, whilst local residents’ and visitors’ journeys through the Square Mile will be enhanced by the public realm improvements and new retail.”

Was this interesting? Try Construction insolvencies creating tough bond market – Winvic

If you have a tip or story idea that fits with our publication, please contact the news editor miles@wavenews.co.uk