HUB and Bridges Fund Management have received planning permission from the City of London for the office to co-living conversion of 45 Beech Street.
Designed by Stirling Prize-winning practice Allford Hall Monaghan Morris (AHMM), the Cornerstone development is located adjacent to the Barbican Estate and, in addition to new co-living homes, it will feature state-of-the-art amenities and improved public realm.
The retrofit scheme will utilise as much of the existing building as possible and is projected to achieve a 34% reduction in total embodied carbon compared with a new build of equivalent scale.
Tom Stoneham, senior development manager at HUB, said: “This success is a major milestone for HUB, as Cornerstone is our first office-to-living building conversion to be granted planning permission. This approach will deliver embodied carbon savings by retaining the building’s structure, but it will also breathe new life into a building that is currently underutilised and has the potential to much better serve the City and workers that want to live there.
“Cornerstone embodies our commitment to delivering places that centre on sustainability, innovation and community-focussed living. We’re now looking forward to progressing this exciting scheme to deliver a new type of home to this area, as well as improved public realm for the benefit of the wider community.”
Celia Harrison, director at Bridges Fund Management, added: “In London, as in many other big cities, we urgently need to build more housing to meet the needs of our growing population. But if we are to have any hope of meeting our net zero goals, we need to be doing this in a more sustainable way. By transforming this under-used office building into attractive, sustainable co-living space, we can help to address both these challenges – broadening access to high-quality housing while reducing the embodied carbon associated with construction.
“We’re hugely grateful to the City of London for their leadership in recognising this opportunity, and we’re excited to bring Cornerstone to life in the coming months in this fantastic location right next to the iconic Barbican Estate.”
Hazel Joseph, director at AHMM, said: “It has been a privilege to work on this strategically significant site on the fringe of the much-loved Barbican Estate. This opportunity has enabled us to explore how alternative typologies and sustainable retrofit can revitalise office buildings that are reaching the anticipated end of their lives.
“Our proposals centre around sensitively restoring the building within the context. The design redresses the existing structure with high-performing and textured facades, creates a more consistent architectural language with the neighbouring buildings, and improves the surrounding public realm including along the Beech Street tunnel. We are looking forward to taking the project forward with HUB, Bridges Fund Management, and the wider project team.”
Shravan Joshi, chair of the City of London Corporation’s planning and transportation committee, added: “Co-living developments are becoming an important part of the mix for city living, particularly in providing more accommodation for young people, as we continue to transform the Square Mile into a thriving seven day and evening destination, for everyone.
“Also, with the built environment sector accounting for around 40% of total carbon emissions, retrofitting is also crucial for meeting our net zero goals. By working with stakeholders to deliver pragmatic policies that will help transition to net zero effectively, we aim to be the most attractive and sustainable global city for generations to come.”
