Property development group Stanhope plc has revealed plans to refurbish One Mabledon Place on Euston Road radically. Ten floors of new London offices overlooking the British Library will be created.
According to Stanhope, energy efficiency will be a crucial focus of the redevelopment effort, and the resulting offices will be rated ‘excellent’ according to BREEAM sustainability standards. Indeed, the building is estimated to be 60 per cent more energy efficient after the refurbishment.
The scheme will ultimately make available a series of 5,000 sq ft to 10,000 sq ft floorplates on a speculative basis, but quality offices in West London are typically among the most sought-after in Europe. Expectations are that occupiers will work from the newly revamped space sometime in mid-2014.
“We are seeing a strong demand from a wide range of occupiers for well-designed, flexible accommodation in the King’s Cross regeneration area. One Mabledon Place responds to this demand and will provide competitively priced space with spectacular views,” said David Camp, chief executive of Stanhope plc.
“The completed building fulfils Stanhope’s commitment to green refurbishment of existing buildings and to reduce energy and other running costs for tenants,” he added.
A recent report from the real estate advisory firm Drivers Jonas Deloitte noted the high number of large-scale office space refurbishment projects currently underway across central London. The report said that 14 of the 27 ongoing office development schemes in the City of London were refurbishments rather than new building projects in the autumn of 2012.
Editor’s notes: Stanhope completed its refurbishment project in 2015. In the same year, it was reported that the company had sold One Mabledon Place to a private investor.
As well as leased office space to rent, One Mabledon Place offers a wide range of flexible office space and workspace solutions such as serviced private offices, managed custom offices and coworking spaces from flex space provider Regus.