Schroders gets go-ahead to redevelop listed Bloomsbury offices
Schroders Capital UK Real Estate Fund (SCREF) has been given the green light to redevelop a trio of Grade II listed office buildings in Bloomsbury, WC1.
The fund, which is working with development partner Stanhope, plans to reposition Minerva House, Fitzroy House and Telephone Exchange into one 106,736 sq ft sustainability and wellbeing-led workspace.
As part of the redevelopment, which will provide a 37% increase on the current floor area, two floors will be added to the building in addition to a roof terrace.
Schroders Capital UK Real Estate Fund (SCREF) has been given the green light to redevelop a trio of Grade II listed office buildings in Bloomsbury, WC1.
The fund, which is working with development partner Stanhope, plans to reposition Minerva House, Fitzroy House and Telephone Exchange into one 106,736 sq ft sustainability and wellbeing-led workspace.
As part of the redevelopment, which will provide a 37% increase on the current floor area, two floors will be added to the building in addition to a roof terrace.
The blocks are located just off Tottenham Court Road in the Bloomsbury Conservation Area, close to Crossrail as well as the Central and Northern lines.
The scheme, which has been designed by architect Morris+Company, will retain 87% of the existing building structure and 84% of the existing primary facades will be retained to reduce embodied carbon during construction.
It will also use electrical heating only, provide better natural ventilation, and include rainwater harvesting systems.
Other amenities at the Chenies Street site will include fitness and wellness studios, a café, bike storage and local ‘pocket parks’ which aim to increase biodiversity.
SCREF is targeting top sustainability credentials for the block, including EPC B, WELL Gold, BREEAM Excellent and a NABERS UK certification.
The building’s floorplates will offer the flexibility to be let as a whole or subdivided to appeal to a wider variety of occupiers, ranging from international companies to local SMEs and start-ups.
During the build phase a percentage of construction jobs and apprenticeships will be offered to local people as part of the project.
Schroders Capital fund manager Rob Cosslett said: “The redevelopment of Minerva House, Fitzroy House, and Telephone Exchange in Chenies Street outlines SCREF’s commitment to investing in sustainability-led, high-quality office assets in well-connected locations.
“Located within London’s Knowledge Quarter, the asset is well situated to benefit from the continued demand for best-in-class office space from occupiers in the life sciences, technology, and higher education sectors.”
See more planning information for W1>>
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Photo © Schroders Capital UK Real Estate Fund
