Legal & General Investment Management Real Assets (LGIMRA) has started a comprehensive refurbishment of the 129,000 sq ft Tempo office building (previously known as Star House) in Maidenhead town centre.
14 Mar 2022
An extensive programme of work is now underway following the announcement of a £40 million contract with construction engineering company ISG, which will transform the four-storey building into one of the greenest, most sustainable and occupier focused buildings in the Thames Valley.
Designed by architect Suttonca, Tempo’s appearance will be transformed whilst sensitively retaining existing stonework on the front of the building to reduce the embodied carbon of the refurbishment.
A variety of new amenity space will be provided for occupiers. An extended reception will include break out and meeting space and a public café on the ground floor. A shared roof terrace of over 5,000 sq ft will be accessible to all occupiers, creating space for community events and informal working in a wonderful, biodiverse environment. Three pavilions will be developed, housing a club lounge, a flexible audio-visual room for large meetings and a catering pavilion for everyday use and events.
The building’s upgrade demonstrates LGIMRA’s ongoing commitment to providing an exceptional, futureproofed building and front of house experience for occupiers, as well as outstanding ESG credentials.
A study has estimated that £111 million in social value will be generated over the duration of the development, providing significant benefits for the local and regional economy. It is estimated that construction, occupation and management of the building will support up to 3,000 full time jobs for local people.
Tempo sits on a prominent 1.4-acre site opposite Maidenhead mainline station, with Crossrail’s Elizabeth line opening in the second half of 2022. It also benefits from a market leading secure basement car park, where new secure parking for 130 cycles will be provided, supported with changing rooms, showers, lockers and drying rooms. 35 electric car charging spaces will also be installed. The basement will also house a spin studio and treatment room.
Reduced targets for both embodied and operational carbon have been achieved. The building will have no natural gas for heating and instead will rely on electrically driven air source heat pumps.
282 PV panels (totalling over 5,500 sq ft) will be installed on the roof which combine with enhanced fabric performance to reduce energy use by over 23% (when compared to energy performance targets in the property industry).
The building has been modelled against the highest sustainable building standards and has a target rating of BREEAM Outstanding.
Simon Wilkes, Head of Development for LGIMRA: "Tempo occupies one of the best sites in the Thames Valley market. The opening of the Elizabeth Line in the first half of 2022 is expected to bring even more new opportunities to the town. Tempo, with its sustainable design, will provide the space and experience occupiers want. The implementation of low and zero carbon technologies will help reduce energy consumption and work towards a Net Zero future."
Councillor Donna Stimson, Cabinet Member for Sustainability at the Royal Borough of Windsor and Maidenhead: "The building will become a great example of sustainable development. It will be a light and airy place to work in, with several spaces to meet colleagues for a break or a brainstorm, whilst simultaneously providing a healthy environment."
Notes to editors
Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with over £1.4 trillion in total assets under management* of which a third is international. We also provide powerful asset origination capabilities. Together, these underpin our leading retirement and protection solutions: we are a leading international player in pension risk transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. Through inclusive capitalism, we aim to build a better society by investing in long-term assets that benefit everyone.
*at 31 Dec 2021
Legal & General Investment Management Real Assets (LGIMRA) is a division of Legal & General Investment Management (LGIM), one of Europe’s largest institutional asset managers and a major global investor. LGIM manages £1.28tn in assets (as at 31 December 2020), working with a range of global clients, including pension schemes, sovereign wealth funds, fund distributors and retail investors.
LGIM Real Assets has assets under management of £36.3bn (as at 31 December 2020) and is one of the largest private markets investment managers in the UK. Investing in both debt and equity and across the risk/return spectrum, LGIM Real Assets actively invests in and manages assets across commercial, operational and residential property sectors, as well as infrastructure, real estate, corporate and alternative debt.
Taking a long term view in order to future proof our investments, LGIM Real Assets continues to lead the industry in ESG performance, considering all environmental, social and governance issues at asset level as well as portfolio level. In 2021, we are implementing a strategy as part of our commitment to net zero carbon emissions across the real estate equity business by 2050, and have also committed to measuring social value across 20% of our platform by the end of the year.
(As of June 2021)
The value of an investment and any income taken from it is not guaranteed and can go down as well as up, you may not get back the amount you originally invested. Past performance is no guarantee of future results. You should consult an independent investment adviser prior to making any investment in order to determine its suitability to your circumstances.