Stanhope and the Swiss Investment Foundation AFIAA are investing £200m in Garrard House, the former headquarters of Schroders, as a speculative office development that it has renamed Gresham St Paul’s.
Although only built in 1998, the building is already considered out of date by current City office standards.
Mace’s £50m construction contract involves substantial refurbishment works, restructuring the central core and removing existing roof levels to extend upwards. Gross internal area is being expanded from 210,219 sq ft to 240,444 sq ft.
Gresham St Paul’s will have approximately 170,000 sq ft of office space over nine floors, with large terraces on the top three floors.
The design, by architect Wilkinson Eyre, has focused on creating a sustainable building for the future by reusing the existing structure and maximising natural light. The design team also includes structural engineer Eckersley O’Callaghan and Waterman as building services engineer. Waterman also worked on the original building.
Gresham St Paul’s is the first development project on which AFIAA has partnered with Stanhope. Stanhope was the developer of the original building on the site just 21 years ago. Skidmore Owings & Merrill was the original architect and Bovis Construction built it.
Mace is expected to complete its work after 79 weeks, ready for building for occupancy by the autumn of 2020.