£1.2B Redevelopment Project In London Breaks Ground

Image of Castleforge founding partner Michael Kovacs (left), Cheyne Real Estate managing partner and CIO Ravi Stickney (middle) and Gamuda group MD Datuk Lin Yun Ling (right)

28 January 2026 | Updated 27 January 2026

Malaysia-based Gamuda and its London-based joint venture partner, real estate investor Castleforge, recently broke ground for 75 London Wall - a £1.2 billion redevelopment project - in the City of London.

Previously known as Winchester House and the UK headquarters of Deutsche Bank, Gamuda and Castleforge acquired the building in February 2023 in a 75:25 joint venture.

They received full planning consent to redevelop 75 London Wall in June last year, increasing the building’s capacity by 40% and construction has since begun. Some 89% of the existing structure, including the lower-level facades, will be retained.

Upon its scheduled completion in September 2027, the 14-storey building will have a gross development area of 688,000 sq ft and a net lettable office space of 465,822 sq ft.

Targeting three sustainability performance ratings; BREEAM ‘Outstanding’, WELL Core ‘Platinum’ and NABERS UK 5 Star Design, 75 London Wall is set to become a grade-A sustainable top-tier office.

Led by Gamuda group managing director Datuk Lin Yun Ling and Castleforge founding partner Michael Kovacs, the groundbreaking event in London was also joined by Head of Investor Relations for the UK Government Gus Wiseman and Deputy London Mayor Howard Dawber. Over 80 attendees were present, including financiers, property agents as well as a range of property development and built environment specialists.

The event on Wednesday also witnessed the signing of a property development loan of £500 million from Cheyne Capital for the 75 London Wall redevelopment project.

Gus Wiseman said: “This will create jobs in construction and at full occupancy, will house over 5,000 workers. Redevelopment projects such as 75 London Wall are vital to this government’s mission to achieve the fastest growth in the G7 [Group of Seven]”.

Cheyne Real Estate Managing Partner and CIO Ravi Stickney said: “Following our £150 million loan for the acquisition of 75 London Wall in 2023, we are delighted to extend our support to Gamuda and Castleforge with a £500 million loan for its redevelopment. At Cheyne, we remain committed to financing the creation of productive and sustainable assets to support the growth of the UK’s vibrant economy. We are therefore thrilled with the significant vote of confidence that Gamuda has shown in London.”

Picture: Image of Castleforge Founding Partner Michael Kovacs (left), Cheyne Real Estate Managing Partner and CIO Ravi Stickney (middle) and Gamuda group Managing Director Datuk Lin Yun Ling (right).

Article written by Dave Mapps | Published 28 January 2026