Midgard to serve as main contractor for £165m office scheme in UK

WCN Editorial Team 19 Jul 2022 EUROPE BUILDINGS

Midgard has been appointed to serve as the main contractor for the £165m Verdant office project located adjacent to the new Elizabeth Line Station in Farringdon, central London, UK.

The firm is anticipated to start construction at the site in October under a contract valued at around £58m, reported Construction Enquirer.

Demolition work has been finished now on the site located at 3-4 Bartholomew Place/150 Aldersgate Street.

Currently, Erith Group is undertaking the groundwork.

The Verdant scheme will provide 135,000ft2 of sustainable office space once it is completed by 2024.

Topland, a privately-owned real estate group, has invested £165m into the project, reported Build In Digital.

Topland Group chairman and CEO Sol Zakay was quoted by Bdaily News as saying: “We believe there has been an over-reaction to the shifting dynamics of the City’s office market now that hybrid working is here to stay. This, coupled with the prevailing economic headwinds, has seen some developers get cold feet.

“As a result, we are facing a shortage of quality, new space over the next three years. A sustainable, high-quality building situated on the Elizabeth Line route is ideally poised to capture the demand from major corporate occupiers from a number of sectors that are looking for landmark headquarters buildings in what is still one of the world’s premier business locations.”

This project expects to achieve low carbon footprint with the reuse of around 80 % of the current structure.

Besides boosting natural ventilation, the project will feature green roofs, hard and soft landscaping, and external courtyards.
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Image: Construction of the office scheme is expected to be completed by 2024. Credit: Pexels from Pixabay.

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