Schroders Capital Obtains Planning Consent for 3 Ruskin Square

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• Schroders Capital Obtains Planning Consent for 3 Ruskin Square

07 April 2022

Detailed planning consent has been secured from Croydon Council for 3 Ruskin Square, a 14-storey office building adjacent to East Croydon Station.

The building, designed by shedkm, will provide 290,000 sq ft of offices plus retail on the ground floor.

Schroders Capital’s UK Real Estate Fund (SREF) and Stanhope Plc secured the consent for the building.

BREEAM Outstanding Target

A number of key sustainability design features will be incorporated into each building. 3 Ruskin Square will benefit from an all-electric energy strategy, rainwater harvesting, a high-performance façade, 35 per cent green roof cover, a modular structural design to minimise embodied carbon, photovoltaics and a BREEAM Outstanding target.

Focussing on occupier health and wellbeing, the building will also feature an air handling plant providing fresh air on a floor-by-floor basis rather than a conventional communal/building-wide system.

The design also includes bicycle spaces with lockers available for tenant use to promote active lifestyles and fitness, as well as three retail units located on the ground floor intended for use by convenience and local amenities to support the community-focused approach to the development.

Schroders Capital has signed up to the Better Buildings Partnership agreement and Ruskin Square is a key example of delivering on its ambitious sustainability targets.

The Ruskin Square mixed-use development also saw 2 Ruskin Square top out earlier this month. Both buildings are targeting BREEAM Outstanding ratings and the NABERS building performance accreditation as SREF, part of Schroders Capital, the private assets specialist investment division of Schroders, and Stanhope Plc look to deliver best-in-class office spaces.

Pre-Let 2 Ruskin Square on Track to Complete in Mid-2023

Pre-lets to the UK government were secured for both of the first two phases; the 183,000 sq ft, Grade A 1 Ruskin Square was let in its entirety on a 25-year lease to HM Revenue & Customs in 2016, and the 330,000 sq ft 2 Ruskin Square was pre-let to the UK Home Office in 2020 on a 25-year lease from completion of the development.

Rob Cosslett, Deputy Fund Manager, Schroders Capital, commented: “Ruskin Square is on track to become a truly best in class office scheme in South London, combining exceptional building design with the benefits of the nearby train station, the amenities of Boxpark, and high quality and long term office occupiers. The active management approach adopted by the team, twinned with our strong occupier relationships has generated considerable value at Ruskin Square in recent years. Achieving planning for 3 Ruskin Square represents a major step forward in delivering the next phase of the scheme, with the building offering cutting edge ESG solutions and highly desirable office space that will be well-placed to meet evolving occupier needs.”

Picture: a photograph of the exterior of 3 Ruskin Square. Image Credit: Schroders

Article written by Ella Tansley | Published 07 April 2022

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