HB Reavis, international workspace provider, has continued its London expansion with the acquisition of a 138,000 sq ft Crossrail Over-Site Development (OSD) at Farringdon West, located in the heart of Clerkenwell. The re-designed scheme will have a clear focus on placing user wellbeing at the centre of the development.
Construction of the seven-storey commercial scheme, which was acquired from Cardinal Lysander and Transport for London, is expected to commence this year and complete in 2020.
Located in the heart of Clerkenwell, the scheme will be at the very centre of the capital’s world-renowned design community and benefit from its proximity to cultural institutions such as the nearby Barbican Centre, Exmouth and Leather Lane markets and Sadler’s Wells Theatre.
The development is immediately adjacent to the newly built Farringdon station as part of the Crossrail project which will operate as the Elizabeth line when it opens through central London. Farringdon station is uniquely positioned as the only station where the Elizabeth line, London Underground and Thameslink meet. When the Elizabeth line opens in December 2018, it will be one of the busiest stations in the UK dramatically improving journey times across both central London and links to outer London – with three of London’s five airports being just under 50 minutes away.
Designed by award-winning British architecture practice John Robertson Architects, which also worked with HB Reavis on its 33 Central office development in the City, the development comprises approximately 138,000 sq ft of office, retail and amenity space.
The development has been designed to focus on delivering the highest quality of office accommodation alongside placing the wellbeing of its occupiers at the heart of the scheme. Wellbeing has been introduced as a main theme running through the entire development to ensure a creative, content and motivated community of users in the building. The scheme is targeting the highest Well Building Institute standard of Platinum and sets out to provide a landlord operated fitness facility, with a generous ground floor cycle provision accessed directly from the Cycle Superhighway. The ambition is to have one of London’s highest office space to terrace ratios of approximately 12%, which have been carefully designed as external places for work, relaxation, socialising or events. The substantial terraces also offer a variety of views of the London skyline, a signature of HB Reavis’ London developments.
As part of ongoing discussions with Islington, HB Reavis is making adjustments to the consented scheme in order to enliven the ground floor and improve flexibility of the office spaces. The office floors have been reconfigured intending to provide a single core, creating open, flexible floorplates of up to 29,000 sq ft –a unique offering in Clerkenwell. A further distinctive feature will be the approximately 170-personauditorium expected to offer event space for occupiers.
A focus of the scheme is that the traditional office lobby has been reimagined. Designed by Studio Shaw, the ground floor intends to be enjoyed by both the public and occupiers: offering a lively mix of food and beverage options, as well as a garden area positioned both within and outside the building.
Seeking inspiration from the area’s rich railway history, as well as connecting to the more contemporary theme of the Elizabeth line, the façade will include a number of materials including a red faience, terracotta and anodised aluminium.
Steven Skinner, Transactions Director of HB Reavis UK, commented: “We are delighted to have secured the acquisition of this strategically important site. The addition of the Elizabeth line at Farringdon station, creating the only station where the Tube, Thameslink and Elizabeth lines interact, secures Clerkenwell as a sub-market with huge relevance across the whole of central London and reaffirms our commitment to invest in locations with superb connectivity and unique character.
“As with all of our buildings, we have put design quality and the needs of occupiers first. The design changes proposed for the scheme result in a unique product offering for Clerkenwell with large floorplates, uncompromised office space combining seamlessly with a real focus on the wellbeing of its occupants through carefully designed large scale outdoor spaces, a re-thinking of the traditional office reception and provision of spaces for health and fitness.”
Graeme Craig, Director of Commercial Development at TfL, said “With the arrival of the Elizabeth line, Farringdon will become one of the best connected places in London. We are therefore delighted to have reached this agreement with HB Reavis at this superb location. As a key part of our huge development pipeline, the Elizabeth line schemes are directly opening up opportunities for new homes and jobs, and could raise £500 million to reinvest in London’s transport network.”
