McGee is undertaking strip out and enabling works. The main build contract is still in negotiation.
30 South Colonnade, designed by Kohn Pedersen Fox, was completed in 1991 as 288,400 sq ft of office accommodation over ground-level reception, mezzanine and 10 upper levels. It was the headquarters of Thomson Reuters and one of the earliest buildings in Olympia & York's Canary Wharf development.
Quadrant, the UK real estate developer, and its joint-venture partner, funds managed by Oaktree Capital Management, acquired the building off-market in May 2019. They have now received planning permission to redevelop it.
The rebuild project, designed by architect BuckleyGrayYeoman, involves stripping the building back to its structural frame, extending the frame upwards with three new floors and then re-building the building from the ground up.
The existing atrium is being filled, moving the existing core, and building a new core to provide floor to ceiling glazing and natural light on all sides.
Quadrant is also building a new entrance at the Jubilee Line/promenade level which will link to the existing entrance at South Colonnade/plaza level.
There will be a new roof terrace on level 14 as well as other terraces on level 12 and on levels 1-10.
Enabling works have already commenced and the main contract works are expected to start in the second quarter of 2021. Project costs was not disclosed.
The building will be renamed YY London, referencing the distinctive shape of its new façade and architecture that ensures the building is a major departure from the existing.
Julian Neave, partner at Quadrant, said: “Securing planning for this bold, sustainable redesign of 30 South Colonnade is significant not just for us but for Canary Wharf as a whole. The role of the office is under review: we need our offices to be extraordinary places. YY London will be a beautiful and recognisable building for London, set in a contemporary tone at the heart of this renowned business district. It has excellent London-wide connections, located adjacent to the Jubilee Line and DLR and a short walk from the upcoming Elizabeth Line. YY London will be an exceptional workspace that staff will want to come to work in, with a focus on wellbeing and community, designed to match occupiers’ evolving needs in the aftermath of the Covid-19 pandemic. We are creating something fresh and exciting for everyone living in, working in and visiting Canary Wharf.”
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