“The best small building in London”, the latest asset to be delivered by Greycoat boasts a wealth of occupier amenities and an EPC “A” rating.
Tenure
Long Leasehold
Timeline
2021 – Ongoing
Area
18,050 sq ft
(1,676 sq m)
Partner
Heitman
Tenants
Greycoat Real Estate LLP
OPPORTUNITY
Having been home to private bank Stonehage Fleming for 15 years, a lease expiry presented the opportunity to gain vacant possession of the Property and implement a major refurbishment and repositioning.
Arranged over lower ground, ground, and four upper floors, this Grade II Listed Property occupies a prominent position at the end of an attractive mews terrace. Greycoat identified a gap in market to create a unique product that is not readily available to smaller occupiers in central London.
ACTIVITY
Greycoat led the commercial negotiations and coordinated the pre-purchase due diligence process. Working with a team led by Stiff+ Trevillion, Greycoat set out a business plan to reinvigorate the existing building as a best-in-class asset. This included addressing a number of physical shortcomings relating to environmental performance, disabled access, lifting and emergency access.
Greycoat secured consent for a remodelling of the Property, adding a new lift core, creating a new reception area, and refurbishing the office accommodation. New occupier amenities include a shared rooftop terrace of nearly 2,000 sq ft, plus a studio gym, prep kitchen, new end of trip facilities, and meeting room spaces.
OUTCOME
The scheme was completed in September 2023, demonstrating significant reductions in operational energy of the building, achieving an EPC “A” and a BREEAM “Excellent” rating.
Greycoat acquired the 1st and part ground floors for their own premises, ahead of the project being completed in September 2023. A further 13,000 sq ft is available to let.
