Construction has commenced at Stanhope's and the Woolgate Exchange Unit Trust's (WEUT) Woolgate redevelopment.

Designed by architects Stiff + Trevillion, the new 9-storey building will provide 320,000 sq ft of reimagined and eco-friendly workspace.

The building will offer a range of amenities, including a great 4,000 sq ft communal roof terrace with a unique events pavilion, providing breathtaking views of St. Paul's Cathedral and the City tower cluster. There will be 17,500 sq ft of private terraces, and approximately 11,000 sq ft of space designated for food and beverage operators. Woolgate will contribute to the local community by featuring extensive ground-floor public spaces on Basinghall Street and Coleman Street.

A remarkable 98% of the existing structure is set to be retained, a testament to the project's dedication to repurposing and reusing valuable resources. The all-electric building will strive for a net zero carbon footprint, encompassing both the construction phase and the building's operational lifecycle. As part of its green pledge, the Woolgate redevelopment has successfully secured 100% green power purchase agreements (PPAs), further minimizing its ecological impact. The pursuit of excellence extends to attaining a 4.5-star NABERS rating and BREEAM Excellent certification, underscoring Woolgate's drive to be a paragon of sustainable construction.

Woolgate offers dual access and receptions from both Basinghall Street and Coleman Street. Situated strategically in a prime location, the building enjoys the convenience of seven mainline stations, all within a mere 10-minute walk. The Elizabeth Line lies a mere two-minute stroll away, offering unrivalled connectivity spanning London and beyond.

Mace aims to complete the project by early 2025.

Laura Collins, Project Director at Stanhope at Stanhope commented: “Our vision for the Woolgate redevelopment is to create a transformative space that combines sustainability, innovation, and functionality. We are excited to reimagine this landmark building and deliver a state-of-the-art headquarters that promotes productivity, well-being, and connectivity. With its innovative amenities and commitment to preservation and green practices, Woolgate will set new standards in commercial real estate, reflecting our dedication to shaping the future of workspaces."

Ged Simmonds, Managing Director for Offices, Construct, at Mace, added: “We are delighted to be part of such an ambitious scheme that puts sustainability at its heart, providing world-leading office space for current and future City workers. We look forward to working alongside Stanhope and our partners to bring the exciting vision for Woolgate to life.”

Mike Stiff, Founder, Stiff +Trevillion said: “We are excited to be working on this flagship retrofit project with highly ambitious sustainability targets. Together with Stanhope and Mace, we will be creating a workplace that meets the future needs of the City workforce including access to outside space and a focus on their health and well-being. As long-term pioneers of repurposing and re-imagining existing buildings, we’re looking forward to delivering this scheme in partnership with our design team colleagues.”