Castleforge has completed and launched its 120,000 sq ft One Golden Lane office redevelopment as competition for prime Grade A space in the City of London intensifies.
The Grade II listed building, located between the Barbican Centre and Golden Lane estates, has been redeveloped to provide more than 120,000 sq ft of office space across 12 storeys.
One Golden Lane comes to market with Grade A vacancy in prime City locations standing at just 1.9%, according to figures cited by Castleforge.
The investment firm says there are currently only 21 Grade A options available now or within the next six months for occupiers seeking at least 100,000 sq ft, compared with 41 active requirements of that size.
HERITAGE REDEVELOPMENT
Originally designed by Tate Britain architect Sidney Smith, the building retains its 1896 façade and other heritage features.
Castleforge has retained 95% of the existing building as part of the redevelopment and says One Golden Lane is the first London scheme to reuse more than five tonnes of reclaimed steel from the same site.
The development is targeting BREEAM Outstanding certification and will be powered by 100% renewable energy.
It also provides 7,000 sq ft of terraces and roof gardens designed by Chelsea Flower Show Gold Medallist Andy Sturgeon, alongside 3,900 sq ft of wellness and community space.
GRADE A SHORTAGE
Michael Kovacs, Founding Partner of Castleforge, says: “One Golden Lane brings 120,000 square feet of best-in-class office space to a part of the City where demand for it far outstrips what is available. Sitting a stone’s throw from the Elizabeth line, it’s one of the best-connected buildings on the market right now.
“Occupiers are competing hard for well located, sustainable buildings that meet their people’s expectations. Very little of this calibre is coming through, especially in a building that keeps the character of its heritage while working for the way people want to work today.”
Matthew Reid, Head of Development and Asset Management at Castleforge, adds: “Delivering a building of this quality within a Grade II listed structure has been a considerable undertaking.
“The team has created a genuinely modern workplace without losing the character of the 1896 building, from the restored façade through to the terraces and roof gardens.”
CITY PIPELINE
One Golden Lane forms part of Castleforge’s wider London development pipeline alongside 75 London Wall, Mark Lane and Vintners Place.
Together, the projects represent more than one million sq ft of prime office space in the City.
The redevelopment was constructed by Midgard with financing from Cheyne Capital and Apollo.
