Year
Acquisition June 2017
Sale September 2025
Value (Million)
£9m
£17m*
Average Rent (psf)
£20psf
£30psf
Energy Intensity
202 kWh/m2/yr
88k Wh/m2/yr
Carbon Intensity
43 kgCO2e/m2
18 kgCO2e/m2
EPC
E
B
Green building certifications
None
BREEAM ‘Very Good’ WiredScore ‘platinum’ Active Travel ‘platinum’
Office refurbishment delivering energy and carbon intensity reduction.
Focussed business plan to reposition a building 50% vacant in a prime location
Business Plan
Economic
- Deliver comprehensive office refurbishment to attract new occupiers.
- Increase net rental income through lettings and regears.
- Increase capital value.
Sustainability
- Improve energy and carbon efficiency in line with decarbonisation target.
- Achieve minimum EPC rating of B.
- Improve connectivity within the building.
- Provide desirable workspace for occupiers.
Asset Management
Capex
- Upgrades to Heating, Ventilation and Air-Conditioning (HVAC) systems including removal of gas (asset now fully electric), and new VRF a/c installed along with new LED lighting.
- Creation of active travel facilities including cycle storage, showers and changing areas.
- New reception with new signage through the building.
- New 8th floor created utilising the original building plant room.
- Enabling building for improved connectivity.
- £7 million cost.