British Land has unveiled plans for the £100m redevelopment of the 34-storey Broadgate Tower office building at its Broadgate campus in the City of London.
The redevelopment will comprise a three-storey extension with a circa 6,200 sq ft terrace to the front of the building, enhanced public realm, a new reception and end-of-trip facilities and refurbished office space.
BAM has been appointed to deliver the project, which is expected to complete in late 2026. British Land is targeting BREEAM Outstanding, an EPC A rating and WELL certification for the project, which it said would deliver a gross yield on cost of above 8% and a high-teen un-geared IRR.
David Lockyer, head of development at British Land, said: “British Land has an excellent track record of developing high quality, sustainable towers which meet the standards of modern-day occupiers. Following our commitment to deliver 2 Finsbury Avenue last year and recent leasing success across the Broadgate campus, this is another significant milestone for both the campus and the wider City as we deliver another office tower into a market where there is short supply of high quality, modern space but very high demand.”
British Land unveiled the plans just days after announcing it had secured planning approval to redevelop Euston Tower at its Regent’s Place campus in the heart of London’s Knowledge Quarter.
