Orion rethinks revamp of former BT headquarters
Orion Capital Managers and Pella Real Estate Partners have submitted fresh plans for redeveloping the former headquarters of BT in the City of London.
Orion bought 81 Newgate Street, EC1, for £209.6m in 2019 and the following year had a redevelopment plan for the building signed off by the City of London Corporation.
Construction of the KPF-designed scheme began in February 2022 when BT vacated the building and is set to complete in the second quarter of 2025. But Orion has now lodged updated proposals that it said would “better serve our neighbours and the City, now and for generations to come”.
Orion Capital Managers and Pella Real Estate Partners have submitted fresh plans for redeveloping the former headquarters of BT in the City of London.
Orion bought 81 Newgate Street, EC1, for £209.6m in 2019 and the following year had a redevelopment plan for the building signed off by the City of London Corporation.
Construction of the KPF-designed scheme began in February 2022 when BT vacated the building and is set to complete in the second quarter of 2025. But Orion has now lodged updated proposals that it said would “better serve our neighbours and the City, now and for generations to come”.
“By making a few minor amendments the team believe that the building can be more sustainable, thus supporting the City’s 2040 net zero target, become more attractive to future tenants, while also allowing the project to provide public and social benefits,” said new planning documents submitted to the City Corporation this month. “In doing so the applicant can also provide further support to the surrounding area, in particular our iconic neighbour, St Paul’s Cathedral.”
The developer wants to change the planned leisure facilities and roof terrace from being publicly accessible to being exclusively for building tenants; reduce the amount of proposed retail floorspace; redesign the public realm, including the planned King Edward Square; and add green walls, more trees and a rooftop meadow.
The updated scheme will improve the BREEAM sustainability rating from Excellent to Outstanding and target a five-star Nabers rating.
“The proposed changes are a direct result of the current needs of tenants within the City, which have evolved since planning permission was originally granted in September 2020,” said a planning statement.
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Image © KPF
