Office space acquired by Low-Carbon Workplace Trust

Four office space acquisitions in London and the south-east announced by Low-Carbon Workplace Trust

Article posted: 20 Jan 2011

The Low-Carbon Workplace Trust (LCW), a fund that aims to make ageing office space more eco-friendly, has announced its first four property acquisitions.

According to a statement from the organisation, the buildings have a total end value of £54 million and each will be refurbished to provide high-quality office space with an emphasis on carbon reduction.

LCW, which is a partnership involving the Carbon Trust, property investment manager Threadneedle and developer Stanhope, also revealed details of a pre-let with Thames Valley Housing Association (TVHA) for office space in Twickenham.

The association has signed a 15-year lease with an annual rental commitment of £600,000 for Premier House in the south-west London district.

"This is the first significant pre-letting of a west London refurbishment project since the financial crisis," commented Don Jordison, managing director of Threadneedle.

Chief executive of the Carbon Trust Tom Delay said LCW is committed to proving that "low carbon properties make sound commercial sense".

As well as Premier House, the properties acquired by the trust comprise of office space in Guildford at The Billings (pictured), Wimbledon and Hammersmith.

Posted by Aree J Rand