BE commits £1.7m to renovate Threadneedle Street Offices
A sign of the confidence in London’s commercial property market” – David Saul
Multi award-winning serviced office company Business Environment is to completely renovate its Threadneedle Street business centre in the heart of the financial business district in the City of London.
The office building, purchased by Business Environment in 2008, features 7,614 square feet of lettable space, equating to 135 workstations over five floors.
Starting in January 2015, the refurbishment – during which the building will be completely refitted in the new corporate style to create a state-of-the-art business centre – will cost £1.7m in total. While work is taking place existing business centre clients will be temporarily relocated to the firm’s nearby Cheapside and Royal Exchange facilities.
The refurbishment project follows on from recent investment in another of Business Environment’s City of London business centres at 150 Minories where three floors of the seven-storey building have been completely revamped in the new corporate style, resulting in the centre now enjoying 94% occupancy. In addition, the reception area of Business Environment’s Reading business centre has also recently undergone complete renovation.
David Saul, Business Environment’s managing director, said: “The Threadneedle renovation scheme is going to transform this supremely-located building into one of the best working environments of its type in the capital. This is typical of the kind of professional yet relaxed space that we are trying to create across the group, and we can’t wait for clients to see the final result.
“This work is a sign of our renewed confidence in London’s commercial property market. The wider economy is looking up at the moment, occupancy rates are at their highest ever, and we can afford to be bold with our portfolio.”