New green office poised to capture demand from major corporate occupiers

A £165m sustainable office project in the City of London has reached a key milestone with the appointment of Midgard to serve as the main contractor.

Called Verdant, the 135,000 sq ft office and wellness development is located at 150 Aldersgate Street, close to Farringdon station, which is served by the new Elizabeth Line (Crossrail).

Part of the JRL Group, Midgard is expected to begin construction work at the site in October, under a contract valued at around £58m, according to Construction Enquirer. It’s scheduled for completion in 2024.

Designed by Fletcher Priest Architects, the development is backed by real estate investment group Topland Group, and is said to focus on sustainability and wellness, with high-quality urban greening on terraces throughout the building.

An impressive and accessible double-height permeable office reception welcomes visitors and office workers. A variety of floorplate sizes provides flexibility, with up to 17,000 sq ft on the lower floors. And the building also benefits from high-quality amenities, including a ground floor cafe and lounge, alongside 250 bicycle spaces and lockers, electric bike charging points, a bike repair station, showers, and changing rooms.

‘The reality is that there will be a shortage in quality new workspaces in the City of London…’

Targeting BREEAM Excellent certification, the building’s sustainability features include: low embodied carbon through the re-use of about 80 per cent of the existing structure; natural ventilation; zero fossil fuels used in building services; biophilic design integrated into architecture; low-energy lighting; and high-performance glazing and building fabric.

Sol Zakay, chief executive of Topland Group, said via Twitter: ‘One of the things I was very proud of Topland Group achieving over the pandemic was that it remained an active and significant investor in UK real estate. And it continues to do so, despite headwinds like runaway inflation, supply chain issues, economic disruption, and the rise of hybrid working.

‘While other investors have come by cold feet, the reality is that we’ll see a shortage in supply of quality new workspaces in key markets like the City of London.

‘Our brand-new £165m investment in the City of London’s latest sustainable office scheme, Verdant, is poised to capture the demand from major corporate occupiers that are looking for landmark headquarters buildings in what is still one of the world’s premier business locations.’

Other members of the project team include: Beltane – asset manager; BH2 – office leasing; and Cushman & Wakefield – office leasing.