Plans approved for major redevelopment of 75 London Wall

11 June 2024

by New Straits Times

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KUALA LUMPUR: Gamuda Land and its joint venture partner Castleforge have received full planning consent to redevelop 75 London Wall, increasing the building's capacity by 40 per cent to 688,000 square feet.

This approval paves the way for construction to begin, marking the start of transforming the site into grade-A sustainable offices as envisioned by the JV partners, Gamuda said in a statement.

The full redevelopment is expected to be delivered by the third quarter of 2027.

Previously known as Winchester House and the UK headquarters of Deutsche Bank, 75 London Wall will reflect Gamuda and Castleforge's commitment to sustainable, top-tier office spaces.

The project aims to create a future-proof, sustainable office space, retaining 89 per cent of the existing structure, including the lower-level facades.

The refurbished offices will target energy-efficient, grade A+ accommodation with BREEAM 'Outstanding', WELL Core 'Platinum', and NABERS UK 5 Star Design for performance ratings.

Multiplex is the main contractor who was appointed under a pre-construction services agreement.

It will begin consultation on the project, offering buildability advice in the remaining design stages ahead of entering the main construction contract in the third quarter of 2025.

Gamuda Land chief executive officer Chu Wai Lune said the granting of full planning consent marks a significant step forward for 75 London Wall.

"Construction can now begin, allowing Gamuda and Castleforge to realise our vision for the site, transforming it into a premium, sustainable office space.

"It further solidifies Gamuda's presence in the UK property development market, where it aims to build a regional portfolio of real estate projects with high rates of return"," he said.

Castleforge founding partner Michael Kovacs said that in order to bring workers back into the office, occupiers will increasingly look for spaces that set them apart from their competitors.

"We never bought the idea that office work was 'dead' and so it is proving as people flock back to Central London," he added.

The planned refurbishment of 75 London Wall will create best-in-class office spaces in a top location with significant amenities that are in demand by blue-chip companies.

"The building will also set a new standard for sustainability in London office space, making a lease here a win for the planet and a win for occupiers' ESG strategies," said Kovacs.

Since its inception in 2010, Castleforge has invested about £1 billion, gaining a strong reputation for value-added investment in office and residential real estate across the UK and Europe.


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