Stanhope and Woolgate Exchange Unit Trust (WEUT) have let 190,000 sq ft to Legal & General at the Woolgate building in the City of London for the company’s new HQ.
The financial services group, which has signed a 15-year lease on floors four to eight, will relocate its HQ from One Coleman Street in 2027 following completion of the fit-out of the space.
The new HQ will have its own dedicated entrance and reception area off Coleman Street and will also offer entertainment space for clients, 15,000 sq ft of private terraces for relaxation and collaboration and the use of a 4,000 sq ft communal roof terrace.
The refurbished building will provide 320,000 sq ft of workspace, 8,000 sq ft of F&B space and extensive ground floor public realm on Basinghall Street and Coleman Street.
Woolgate is set to be net zero in construction and is on track to achieve a 4.5-star NABERS and BREEAM Excellent rating.
António Simões, chief executive of Legal & General, said: “We are delighted to have signed an agreement to move our London headquarters to the Woolgate, just a few minutes’ walk from our old offices. Woolgate will offer our people a modern and enhanced working environment, helping to further our ambition for a better-connected L&G, with increased collaboration and employee wellbeing offerings.
“Woolgate is well-aligned with our commitment to the net zero transition, coming with strong sustainability credentials and will support our commitment to a net zero operational carbon footprint by 2030. We look forward to continuing to work with Stanhope and WEUT to design the most appropriate fit-out for our people, ready for our arrival in a few years’ time.”
David Camp, chief executive of Stanhope, added: “We are delighted to have signed this deal with L&G and to have found an occupier aligned with our vision for Woolgate as a transformative space that combines sustainability, innovation, and functionality. We look forward to welcoming L&G to the building and continuing our mission to shape the future of workspaces.”
Savills, JLL and BCLP acted on behalf of Stanhope and WEUT. JLL and Simmons & Simmons acted represented L&G.
Taiwanese-based Cathay Life Insurance Co (Cathay Life) is the ultimate beneficial owner of Woolgate Exchange Unit Trust.
