UK’s Largest 100% Electric Net-Zero Office Set For 2026

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08 March 2022 | Updated 04 April 2022

A £400 million development finance facility to fund 105 Victoria Street means building work will commence this year, with Skanska as the main contractor.

Welput, the central London office fund managed by BentallGreenOak (BGO), has recapitalised its ownership of the landmark site, 105 Victoria Street, and secured a £400 million development finance facility to fund the construction of the scheme

The Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investment managers, has co-invested alongside existing Welput investors in the development – the largest speculative West End office scheme ever to come forward, which, in April 2021, achieved Westminster City Council’s single largest ever commercial building consent.

Allianz Real Estate has provided ca. £200 million of the £400 million development finance facility which will partly fund the construction of the scheme.

The project’s funding coincides with BGO’s appointment of Skanska as the main contractor to deliver the scheme. Work is expected to start on site in July 2022, with completion targeted in Q2 2026.

CBRE and JLL have been appointed as commercial leasing agents for 105 Victoria Street. 

Picture: a photograph of the proposed 105 Victoria Street site. Image Credit: © DBOX for Bentall Green Oak

An Operational Net-Zero London Building

The completed development will be able to accommodate office demand ranging from 4,000 sq ft up to almost 450,000 sq ft.

The 500,000 sq ft building will not only be operational net-zero, but achieve net-zero embodied carbon using innovations in ultra-low carbon construction to minimise the carbon intensity of the development. Carbon emitted from the project will be offset within six years of the new building’s operations in comparison to the retention and refurbishment of the existing building.

The building will also be the largest all-electric office in the UK, and all of the development’s energy will be supplied from fully renewable sources, with no gas supply and no diesel generator on-site, ensuring zero fossil fuels in operation and during construction. As a result, the building is designed to meet EPC A and WELL Platinum certification and exceed RIBA 2030 sustainability targets as well.

The scheme is also the UK’s first office building to target a combined BREEAM Outstanding and 5.5* NABERS rating, the world-leading environmental performance rating tool which rates the operational energy use of offices.

30,000 Sq Ft of Green Space

Designed by architect Kohn Pederson Fox, alongside interior architect Henning Larsen, 105 Victoria Street will create a new kind of community-focused, experiential building in Victoria, providing up to 450,000 sq ft of world-class workspace, including 5,500 sq ft dedicated to affordable space, and over 30,000 sq ft of retail space.

It will also provide almost 30,000 sq ft of green space and terracing – the largest of any commercial building in the West End and equivalent to ten double tennis courts – which will include a 200m “walk and talk” track and an urban farm with community allotments.

Picture: a photograph of the proposed 105 Victoria Street site, showing extensive green space and roof terraces. Image Credit: © DBOX for Bentall Green Oak

Article written by Ella Tansley | Published 08 March 2022

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