UK-based property developer McLaren Construction has received a £94m shell and core contract from US-based real estate company Tishman Speyer for the Angel Square refurbishment project in Islington, London, reported Construction Enquirer.
The refurbishment project will involve the transformation of 132,000ft² (122,63m²) office space in three connected buildings around a central courtyard into a single 293,000ft² (27,220m²) building.
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The new building will comprise 188,000ft² (17,465m²) of office space, a café, and a replacement public house.
The project will retain 70% of the current structure and include infilling a central courtyard and construction of two extra floors with roof terraces following the demolition of the upper level.
The cores of the structure will be relocated to a central position to free up space and allow for new floor plans.
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Using the existing ribbed reinforced-concrete frame is expected to reduce the building’s embodied carbon.
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By GlobalDataThe company will provide a Cat A fit-out of the new floors and install new mechanical, electrical and plumbing (MEP) equipment, which will be largely relocated from the roof to the basement.
The 1980s brick façade will be replaced with a new glass-reinforced concrete façade.
McLaren London regional managing director Darren Gill said: “These heavy refurbishments of existing structures are increasingly vital as a sustainable way of meeting occupier demands for modern office space with high environmental performance.
“They can be delivered relatively quickly and Angel Square shows that the new building needn’t be limited by the previous layout. An intelligent design like this one can create a lot of extra space.”
Construction work on the site is expected to commence in June 2023 and is anticipated to complete in Q4 2024.
Tishman Speyer’s Design & Construction UK and Ireland senior director Nacho O’Leary said: “McLaren has the experience of heavy refurbishment and building above underground stations, which perfectly complements the rest of the project team.
“Together we will deliver a sustainable refurbishment which is a top priority for the firm.
“With Angel Square, Tishman Speyer is further extending its premium-quality office portfolio, while continuing to create an exemplar of ESG-focused and community-based design that will revitalise a prominent gateway site to Angel.”
Tishman Speyer acquired the Angel Square property from Derwent London for an £86.5m consideration in 2021. The company was advised by the real estate team of international law firm Simmons & Simmons.
