International real estate company Pembroke has announced it has agreed a pre-let with global law firm Addleshaw Goddard at 41 Lothbury in the heart of the City of London.
Addleshaw Goddard will occupy 114,000 sq ft of office space on a 15-year lease and work alongside developer Pembroke, its construction partner Wates Construction and architectural practice Stiff + Trevillion to transform the Grade-II-listed former bank premises into a turnkey solution which allows the law firm to relocate easily, and benefit from the best facilities where employees can thrive.
When the law firm takes occupancy in 2024, 41 Lothbury will seamlessly blend best-in-class smart building technology with carefully considered amenities designed for collaboration. This will see the building’s iconic banking hall brought into the 21st Century through the creation of flexible break-out spaces, enhanced by a Jason Bruges light installation. Other amenities will include new end of trip facilities, as well as a repurposed rooftop with outdoor terraces offering spectacular views of the City of London to help promote employee wellbeing.
The refurbishment of 41 Lothbury will be a prime example of working within an existing building structure and reusing existing materials to enhance an office asset and reduce carbon emissions. This will be achieved by transforming 41 Lothbury into an all-electric building with energy provided through air sourced heat pumps allowing the building to achieve NABERS accreditation and contribute to Pembroke’s objective to be Net Carbon Zero by 2035. 41 Lothbury also hopes to secure a BREEAM Excellent rating and Platinum Wired Score.
These works at 41 Lothbury not only demonstrate Pembroke’s commitment to sustainability and wellbeing, but also to the London real estate market, in particular the City of London where it recently unveiled the revitalised 25 Cannon Street. Pembroke transformed the office asset into a mixed-use space complete with new retail and F&B units, as well as partnering with the City of London Corporation to create The Reflection Garden, a new tranquil public space for those who work, live, and visit the City.
Matthew Knight, Vice President, Head of UK and Head of European Development at Pembroke said: “We are proud that Addleshaw Goddard has selected 41 Lothbury as its new London headquarters. We are especially pleased that they have entrusted us and Wates Construction to deliver a high-quality workspace which is fit for their needs and offers facilities and services that encourage productivity and employee engagement.
We look forward to working closely with Addleshaw Goddard and Wates Construction to deliver this transformation of an iconic City of London building. This project builds on the success of 25 Cannon Street and demonstrates how we are helping to optimise collaboration and innovation to embrace the future of work across the City of London.”
John Joyce, Managing Partner, Addleshaw Goddard said: “This is a really exciting move for us. Our new HQ and the client experience there will capture the imagination of our people and provide an inspiring space, with amazing credentials, for current and future generations of AG. We wanted to create the best possible environment for collaboration while also factoring in future growth in a more modern building configuration with better environmental credentials than our current space provides and 41 Lothbury will tick all the boxes. London has delivered impressive growth for us and, in our new HQ within a historic building in the heart of London’s financial district, we will have the opportunity to grow further. The move underpins our continued ambition to service our great clients from a fantastic City which is instrumental in supporting our global platform.”
Pembroke’s London portfolio comprises over 500,000 sq ft of high quality, modern workspace in some of the Capital’s most prominent and high-profile locations in Mayfair and the City of London.
Cushman and Wakefield and JLL advised on the letting on behalf of Pembroke.