Qataris to refurbish former Goldman Sachs and Daily Telegraph building
Qatari investors are to pour £90m into a major refurbishment of the former Goldman Sachs and Daily Telegraph headquarters at 133 Fleet Street, London.
The group of private investors has submitted plans to redevelop Peterborough Court, EC4, in a major vote of confidence in the capital’s office market from the Middle East.
Built in 1927, the art deco building was home to the Telegraph for 60 years before later becoming the London base of Goldman Sachs, which vacated the premises in 2019.
Qatari investors are to pour £90m into a major refurbishment of the former Goldman Sachs and Daily Telegraph headquarters at 133 Fleet Street, London.
The group of private investors has submitted plans to redevelop Peterborough Court, EC4, in a major vote of confidence in the capital’s office market from the Middle East.
Built in 1927, the art deco building was home to the Telegraph for 60 years before later becoming the London base of Goldman Sachs, which vacated the premises in 2019.
The plans involve reworking the building to create 300,000 sq ft of grade-A office space, with retail on the ground floor as well as electric vehicle charging points and room to store 600 bicycles.
The scheme will feature flexible office floor plates of between 16,000 sq ft and 34,000 sq ft, and will include improvements to the Fleet Street and Shoe Lane building entrances.
The work is being managed by Broadwater Capital on behalf of the owner, Regis Fleet Street. Design is being led by architectural firm Kohn Pedersen Fox, engineering and structural disciplines led by Ove Arup & Partners and project and cost management services provided by Gardiner & Theobald. Gerald Eve is acting as planning adviser.
Phillip Bennison, head of investment management at Broadwater Capital, said: “The refurbishment of Peterborough Court will support the continued regeneration of this important part of the City of London, breathing increasing vibrancy into this historic destination.
“The remodelled scheme will provide world-class offices, complete with ground-floor retail, leisure and accessible open spaces, in a contemporary design, anchored by sustainability, health, wellbeing and smart technology.”
It comes after WeWork pulled out of talks to take on the building as one of its serviced offices, after the operator decided to curtail its London expansion plans amid financial struggles.
Subject to planning consent, construction work is set to begin before the end of this year. JLL and CBRE have been appointed to source potential prelets for the space, with the first tenants set to move in during the second quarter of 2023.
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Photo © Kohn Pedersen Fox
