Stanhope and Woolgate Exchange Unit Trust get approval for green refurbishment project in London

Stanhope PLC and Woolgate Exchange Unit Trust have received official planning consent from The City of London Corporation for a full refurbishment of Woolgate Exchange, following the successful completion of their Section 106 agreements.

The new Woolgate nine-storey building was designed by Stiff + Trevillion to meet the needs of modern occupiers.

The refurbishment project will include the introduction of a new 1,500 sq ft rooftop pavilion boasting views of St Paul’s Cathedral and the City tower cluster.  

The renovated building will feature over 20,000 sq ft total external terrace amenity, providing urban greening, biodiversity, and outdoor space on the majority of upper floors.

The development is targeting net zero carbon in both construction and operation thanks to an ambitious reuse and retention strategy, which seeks to preserve 98% of the existing structure.  

The building will be all-electric, with no fossil fuel or gas boilers on site, and 100% green power purchase agreements (PPA) are being used, as it is targeting a 4.5* NABERS rating and BREEAM Excellent ratings.

The project was also shortlisted for several awards thanks to the activities undertaken to date by demolition partner Keltbray during the strip-out, including 100% of waste diverted from landfill.

Global construction and consultancy business, Mace, is geared to start construction on the landmark building in the first quarter of 2023, with practical completion anticipated in October 2024.

Laura Collins, project firector at Stanhope, said: “Woolgate embodies Stanhope’s commitment to delivering assets, investments and developments that actively contribute to the reduction of carbon emissions, while still providing Grade A office space in the heart of the City of London.”

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