Legal & General and Mitsubishi break ground at major Hammersmith Office Scheme
29 Jun 2017
LGIM Real Assets and Mitsubishi Estate London have broken ground at 245 Hammersmith Road, W6, their 250,000 sq ft office-based scheme which will create a vibrant working environment and deliver a new standard of office space for the area.
Demolition works have recently been completed by Erith, and Lendlease has been appointed to deliver the £200M construction project.
Latest CGI images of the building have also been released to the public for the first time. They bring to life the ambitious design-led scheme as well as the cleverly crafted and extensive public realm. The new green spaces will transform this area of Hammersmith as they will be open to the public, offering restaurants, retail and a new public plaza and a secluded urban park. The building and its surroundings will form an important part of regenerating the centre of Hammersmith, creating a bold new destination at the heart of this popular urban location.
245 Hammersmith will be built to the highest standards of design and aims to connect and inspire its future occupiers and to create a flexible and collaborative work environment inside and outside of the building. The building itself will consist of a basement, ground and 11 upper storeys as well as the new urban park and plaza to the Hammersmith Road.
With sustainability at the heart of its design, the scheme is targeting a BREEAM “Excellent” rating, is minimising embedded carbon and has looked to maximise its social value through a research project jointly funded with the BCO to ensure that the building is positively contributing to its community during and after the construction process. This means that we can ensure that 245 Hammersmith Road will have a positive social impact on the community whilst remaining commercially viable.
Simon Wilkes, Head of Business Space Development, LGIM Real Assets, said: “This is a milestone event for 245 Hammersmith Road as this bold new destination in the centre of Hammersmith starts to come to life. The building aims to create a new standard of office space for Hammersmith with unparalleled amenity for occupiers including a new plaza and urban parks. The building will also have extensive shared workspace as part of the entrance, creating a stimulating workplace which nurtures wellbeing and looks to inspire and connect its future occupiers, as well as the whole community which will be able to enjoy the extensive green spaces.”
Yuichiro Shioda, Managing Director & CEO of Mitsubishi Estate London Limited, the London based wholly owned subsidiary of Japan’s leading developer Mitsubishi Estate, said: “245 Hammersmith Road will be a landmark scheme for the area, and the breaking of ground is good news for a market that is currently under-supplied with quality office space. We are already seeing interest from occupiers, attracted by the building’s innovative design features and the wider advantages of a Hammersmith location.”
Last year Mitsubishi Estate London became LGIM Real Asset’s 50% partner in the project. The partnership is speculatively developing the new scheme, designed by Sheppherd Robson, with completion expected in 2019.
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LGIM Real Assets
LGIM Real Assets is a division of Legal & General Investment Management (LGIM), one of Europe’s largest institutional asset managers and a major global investor. LGIM manages £902bn in assets on behalf of over 3,200 clients (as at 31 December 2016), providing products and solutions spanning all asset classes. LGIM Real Assets, headed up by Bill Hughes, has AUM of £23.2bn (as at 31 December 2016), actively investing and managing assets across commercial property, private residential, infrastructure and property lending and, most recently, corporate credit.