Thousands of square feet of London office space and retail units are being readied at the site, and some of the world’s most advanced temperature-control systems have been installed to improve its environmental performance.
Close to 60 km of piping is to steadily heat and cool the City of London’s latest high-profile office and retail location, with £300,000 expected to be saved on annual heating bills because the building’s energy will be extracted from the ground beneath the site.
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A company called Geothermal International has enabled the scheme’s development leader, Land Securities, to install a state-of-the-art heating system that has attracted considerable praise from various quarters.
“This is British innovation at its best, using the earth’s natural resources to solve our energy needs,” said UK climate change minister Greg Barker. “Extracting warmth from the ground underneath London will help save on the building’s heating bills and will cut carbon.”
Land Securities’ chief executive, Francis Salway, commented: “The renewable energy system will deliver carbon reductions, cost savings and a comfortable work environment, making it a truly sustainable building of the future.”
The temperature control system installed by Geothermal International was officially put into operation today by Mr Barker, and deals are already being struck between Land Securities and companies seeking office space to rent in the City of London.
Around 3,000 people will eventually be working from office space at One New Change, including dozens of Friends Provident employees, with the insurance firm having recently agreed a tenancy deal at the site.
Editor’s notes: When One New Change was completed in October 2010, it was inspected and received ‘Excellent’ accreditation on the Building Research Establishment Environmental Assessment Method (BREEAM).
This was due to the incorporation of elements such as the triple-facade, highly efficient plant, heat-rejection piles and bores, rainwater harvesting, and sedum green roof areas.
In 2023, the basement facilities were upgraded to include 370 cycle spaces.
As of June 2026, the 538,810-square-foot building was still owned and operated by Landsec, which rebranded from Land Securities in June 2017.
The BREEAM ‘Excellent’ property operates one of the largest ground source heat pump systems in Europe, with 100 per cent of electricity procured from renewable sources and also achieved a WELL Platinum rating in 2025.
Also in 2025, Landsec’s flexible office space and workspace brand MYO took occupation of 3 floors within the building and continues to offer agile alternatives to leased office space.