Winner on £150m St Thomas Yard job due by end of year
London developer Great Portland Estates said it is planning to spend close to £400m on four HQ office schemes as the firm said end-users were demanding more and more quality in the buildings they choose to occupy.
Among the schemes it is pressing on with are the Whittington House overhaul, being carried out by Faithdean, and the £150m St Thomas Yard job in the shadow of the Shard which is being bid by Bovis, Mace and Sir Robert McAlpine.
GPE said it expects to start work on St Thomas Yard by next summer with a winner for the work, which has been redrawn and renamed, due by the end of the year.
Announcing interim results this morning, GPE chief executive Toby Courtauld said: “It has been clear to us for a number of years that customers are choosing the best spaces in vibrant central London locations over the rest and this structural theme is as relevant today as ever.”
It said other upcoming jobs include 1 Chapel Place near Bond Street, which involved “significantly increasing the building’s massing beyond its current 34,200sq ft while it is also looking at building an HQ office building, drawn up by AHMM, fronting onto Soho Square with flagship retail on Oxford Street.
It added its scheme at 2 Aldermanbury Square, built by Bovis, is nearing completion with law firm Clifford Chance due to move in by spring next year. Overbury is on site carrying out the £150m contract.
Meanwhile, the developer said Multiplex is set to finish work on the £90m Minerva House scheme by spring 2027.
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