FTSE listed bank Standard Chartered has agreed a long-term reversionary lease on its circa 200,000 sq ft global headquarters at 1 Basinghall Avenue in the City of London.
As part of the bank’s “rightsizing” and lease restructure deal the building’s landlord Zeno Capital and asset manager Oxygen will undertake a full refurbishment project to deliver enhanced employee amenities and wellbeing facilities, in addition to new office technology.
The works will begin this year and complete by 2026, with Zeno targeting BREEAM Excellent and LEED Gold or equivalent.
Andy Halford, group chief financial officer at Standard Chartered, said: “We are delighted to extend our lease at 1 Basinghall Avenue in the heart of the City of London. The planned refurbishment will create an energising, inspiring and modern workplace that aligns with our hybrid working model and encourages seamless collaboration and communication, benefitting our clients and employees.”
Mike Harris, co-founder of Oxygen Asset Management, added: “Zeno Capital and Oxygen look forward to continuing our long-standing partnership with Standard Chartered at 1 Basinghall Avenue and are excited about taking forward the extensive and best in class building enhancement works we have planned.”
Standard Chartered was advised by CBRE and Simmons & Simmons. Zeno Capital and Oxygen were advised by BH2 and Wedlake Bell.
