Contractor Mace has started construction on the redevelopment of the Woolgate headquarters building in London, UK.
Being developed by investor Stanhope and the Woolgate Exchange Unit Trust, the project will transform the existing building so that it fits the requirements of a modern office.
The nine-storey property is located next to the City of London’s Planning department and will provide 320,000ft² of sustainable workspace.
This building will feature several amenities, which have been designed to promote productivity in the workplace. In addition to providing office spaces, there will be more than 20,000ft² of landscaped, private terraces included in the process.
It will include 4,000ft² of communal roof terrace space along with a new rooftop pavilion to conduct events. It will also offer a panoramic view of St Paul’s Cathedral and the iconic tower cluster of the city.
Mace was appointed as the main contractor for the project in January this year and said that it will repurpose and reuse 98% of the existing structure.
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The new all-electric building is claimed to have been designed to release net-zero carbon during its construction and operational phases.
To further reduce any environmental impact, 100% of the power requirements during the redevelopment phase will be sourced from 100% green energy.
Mace is aiming for a 4.5-star NABERS rating alongside the BREEAM Excellent certification.
Mace’s managing director for offices Ged Simmonds said: “We are delighted to be part of such an ambitious scheme that puts sustainability at its heart, providing world-leading office space for current and future city [London] workers.
“We look forward to working alongside Stanhope and our partners to bring the exciting vision for Woolgate to life.”
Expected to be completed in early 2025, the building will be occupied by German merchant bank WestLB via a long-term lease contract.
Stanhope project director Laura Collins said: “Our vision for the Woolgate redevelopment is to create a transformative space that combines sustainability, innovation, and functionality. We are excited to reimagine this landmark building and deliver a state-of-the-art headquarters that promotes productivity, well-being, and connectivity.
“With its innovative amenities and commitment to preservation and green practices, Woolgate will set new standards in commercial real estate, reflecting our dedication to shaping the future of workspaces.”