01 / Introduction 

London’s commercial office market is undergoing a major transformation through the refurbishment and replenishment of its existing buildings. Many commercial properties have been developed or upgraded over the last few decades, but the mechanical, electrical and plumbing (MEP) systems that keep them operational are often inefficient, costly to maintain and approaching obsolescence sooner than the end of life of the property they serve. Electrical, life safety and mechanical systems are all ageing, while regulations and sustainability targets are becoming increasingly demanding. 

Landlords are under pressure: the statutory Minimum Energy Efficiency Standards are being tightened, carbon reduction has become non-negotiable and, in addition, tenants increasingly expect workplaces that are high-quality, efficient and attractive. Upgrades are no longer optional – rather, they are essential for maintaining asset value and rental competitiveness, and landlords are regularly going above and beyond the current accreditation frameworks such as BREEAM, WELL and NABERS to provide a best-in-class building to secure tenants.

Yet upgrading buildings in use is far from simple. Live environment risks, complex procurement strategies, skills shortages and volatile supply chains all require careful consideration in order to set the correct budgets and programme. Every building type will have unique demands. This cost model aims to identify key drivers of MEP asset replacement, the challenges faced in delivery, and the strategies that can reduce disruption and control cost. 

This cost model for a central London office MEP upgrade illustrates the scale of investment required. The message is clear: plan early, engage the market, and view sustainability not as a burden but as an opportunity to enhance long‑term value.

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