On behalf of Malaysian investor Permodalan Nasional Berhad (PNB), LaSalle Investment Management and development manager M3 Consulting have received a resolution to grant planning permission for the redevelopment of One Exchange Square in the City of London. The proposed scheme transforms an existing 1980’s commercial building into a vibrant new occupier focused Office and Retail destination.
PNB acquired One Exchange Square in 2012. The office space is fully occupied by European Bank for Reconstruction and Development (EBRD). Upon EBRD’s lease expiry in 2022, LaSalle, on behalf of PNB, will execute its strategic business plan to reposition the building into a resilient asset, committing to global ESG design
Designed by Fletcher Priest Architects, the 13-storey scheme will deliver 422,000 sq ft of high-quality workspace and 15,000 sq ft of retail, fronting both Bishopsgate and the newly re-landscaped park at Exchange Square. With over 34,000 sq ft of external accessible space the building offers biodiverse terrace environments accessible from every floor.
One Exchange Square will have exemplary ESG credentials, targeting BREEAM Outstanding, NABERS 5* and Well Platinum. By retaining 90% of the existing structure, the building will have 50% lower embodied carbon than a typical office building of comparable size. The project is 100% electric and Net Zero Carbon in operation, using intelligent façade design and mechanical services twinned with building management systems to manage operational energy use.
Source : Company