£20m London office deal hailed as defining moment for retrofit

Contractor Willmott Dixon has won a £20m contract to refit a 1980s-built London office block in its fourth project for green property investment vehicle Low Carbon Workplace (LCW).

The LCW consortium, which includes Stanhope, Threadneedle and The Carbon Trust, has signed up the contractor to completely refit Summit House near Shoreditch to deliver 9,500sq m of low carbon cat-A office space. It follows the recent delivery of Mansel House in Wimbledon, a 1960s building refurbished to make it 50% more energy efficient than equivalent buildings.

At Summit House key alterations include removing an existing storey and replacing it with two new storeys to create a modern office over six levels featuring a new copper glass façade. When complete in August next year the building is expected to attract tech companies, given its proximity Old Street’s Silicon Roundabout, home to tech innovators.

This is the latest project for LCW, which buys old property to modernise and increase its energy performance certificate to at least a B rating. This futureproofs the property against rising energy bills and new environmental regulations, such as the minimum energy performance standard, which is set to restrict the letting of buildings rated F or G from 2018.

Chris Tredget, managing director of Willmott Dixon North London said of the latest project: “This is a defining moment that points to a steady rise in property owners investing to create low carbon office environments in London, driven by tenant demand and the upside in value”.

Architect on the makeover project is Astudio.

 

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