Construction has commenced on Blackstone’s new 226,000 sq ft European headquarters located on the site of the former Lansdowne House in Berkeley Square.
The 10-floor building is nearly two thirds larger than Blackstone’s existing office on Berkeley Square and includes 14,000 sq ft of ground floor retail space and redeveloped public areas.
Construction of the AHMM-designed building, which is being delivered by London commercial property developer CO-RE, is slated to complete in 2028.
CO-RE is targeting BREEAM Outstanding, WELL Platinum, NABERS 5-star and an EPC A-rating for the development, which will incorporate recycled steel from the original building.
Stephen A Schwarzman, chairman, CEO and co-founder of Blackstone, said: “This is a great day for Blackstone. We’re proud to be one of the largest foreign investors in the UK and I am delighted to celebrate our next phase of growth after more than 20 years at Berkeley Square. Our expanded headquarters at the redeveloped Lansdowne House will be an important part of our story as we continue to build great companies across Europe.”
Prime minister Rishi Sunak, who attended the formal groundbreaking ceremony, added: “Blackstone’s new European headquarters is a vote of confidence in the British economy – proof that our plan is working. We’ve already halved inflation, debt is forecast to fall, and – with the help of Britain’s proud financial sector– we’re on course to grow the economy.”
Bradley Baker, chief executive of CO—RE, said: “Blackstone are providing a huge boost to the London and West End economy through their major investment in Mayfair. At their new headquarters they will enjoy a building that raises the standard of future office design and gives a new sense of place to the historic Berkeley Square.
“The sustainability credentials and features of the building, including its flexible core to enable future redesign and generous provision of green terraces, will give Blackstone a place to call home for years to come.”
