Landsec starts major office refurbishment project in London

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Landsec has begun the renovation of Portland House in Victoria, London


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One of the UK’s biggest listed property developers has launched a major revamp of a central London tower in a vote of confidence in the office market following the pandemic.

FTSE 100 company Landsec is now on site with the refurbishment of Portland House, which is in Victoria where the firm has undertaken a number of major developments. The estimated total development cost of the latest project is £380 million.

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Planning permission is for a 300,000 sq ft Buckley Gray Yeoman-designed scheme which includes a new double height reception on Bresenden Place, a refurbished façade, new windows and a level 30 rooftop extension.

It is designed to be net-zero in both construction and operation, and the completed building will be powered entirely by electricity and air source heat pumps, with energy derived entirely from renewable sources.

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The confidence to invest has come despite many businesses adopting work from home. Developers feel that there is enough demand from employers who want permanent offices, even if the employees are in them for a few days a week.

Landesc said last month that its latest Victoria office building, the n2, is already 66% ready ahead of completion later this year.

Oliver Knight, the firm’s Head of Workplace, said: “We have seen a clear demand for high-quality office space in prime London locations with good means of transport and easy access to retail, leisure and entertainment.”

The Portland House project will be completed by Summer 2025 at the earliest.

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