Planning approved for new City office tower

TIAA-CREF gets green light for One Angel Court Redevelopment

Article posted: 05 May 2011

TIAA-CREF has obtained planning consent to proceed with the redevelopment of office space in the City of London at One Angel Court. Centrally located between the Bank of England and several new office towers, the redeveloped One Angel Court will contribute to the revitalization of the Bank Conservation area.

“This is a significant achievement resulting from two years of work in consultation with the City of London that will bring much needed additional Grade A office space in a revitalised work environment featuring increased retail, restaurant and public space,” said Anthony J. Butler, Director, Real Estate Investment Management, TIAA-CREF Asset Management UK. “We believe in adopting best practices in respect to sustainability. We have incorporated significant sustainability goals into this project, reflecting our desire to decrease our environmental footprint, help lower occupational energy costs and add value for clients.”

The net lettable floor area will increase by more than 50% from approximately 200,000 sq ft to 300,000 sq ft. The buildings will also include significantly improved public space for retail shops and restaurants and roof terraces for tenants. The redeveloped tower will meet anticipated 2013 energy standards resulting in improved energy efficiency and significant energy savings over the current usage. Redevelopment is scheduled to begin in 2013 and is expected to be completed in 2016.

The building, designed by Fletcher Priest Architects, will include reconfiguring, extending and re-cladding the existing tower, which will feature distinctive fritted glazing as part of the solar protection allowing uninterrupted views across London. The large and efficient floor plates within the podium office space will also benefit from substantial windows which will have adjustable louvers to provide a sun shield and to reflect light deep into office space to reduce electric lighting requirements.

It will target a BREEAM “Excellent” rating and is “expected to use only a fraction of the existing energy consumption.”

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Posted by Chris