Construction begins on £200m sustainable Tottenham Court Road mixed-use scheme

M&G Real Estate and development manager CO-RE have announced that work is starting on a new 86,810 sq ft mixed-use scheme on Tottenham Court Road, following the appointment of Kier as the main contractor.

The Fitzrovia, which has a gross development value of £200m, will deliver 65,885 sq ft of office space, 11,420 sq ft of retail and 9,505 sq ft of residential space as M&G looks to maintain its commitment to the “thriving” West End office market which is benefiting from the recent opening of the Elizabeth Line.

With completion set for Q3 2024, The Fitzrovia will be built to the “highest environmental and wellbeing standards”, targeting a NABERS Design & Performance Rating of 5 Stars (Excellent), BREEAM Outstanding and Platinum WELL accreditations.

Carbon and on-site emissions will be minimised by an offsite construction approach, while “innovative” building materials will be used to optimise prefabricated components. The asset will be an all-electric scheme with solar panels incorporated as part of a green roof terrace to encourage biodiversity within central London.

Occupiers will benefit from light-filled flexible workspace as well as a range of communal facilities including outdoor terracing, café, bike storage, changing and shower facilities.

John Duxbury, head of UK portfolio asset management at M&G Real Estate, commented: “The Fitzrovia aims to be a champion of sustainability and wellbeing within the central London office market.

“Our investment in The Fitzrovia is a continuation of our strategy to develop assets of scale in prime locations where we are able to enhance the built environment by delivering assets with best-in-class ESG credentials.

“We are currently doing this at our ongoing mixed-use developments at 40 Leadenhall in the City of London and at Haymarket in Edinburgh.”

Jo Al-Hillawi, senior development manager at CO-RE, added: “The Fitzrovia has been developed around the needs of the modern occupier, combining a striking contemporary aesthetic with a clear focus on wellbeing and sustainable design and procurement at every stage of the project.

“This is a very exciting time for Fitzrovia, which is already reaping the benefits of Camden’s West End Project and with the Elizabeth Line now open, this momentum is set to continue.”

By Matthew Neville – Correspondent, Bdaily

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