Set to become one of the greenest buildings in the Thames Valley
28 Jul 2021
LGIM Real Assets (Legal & General) has been granted planning permission from the Royal Borough of Windsor & Maidenhead for the comprehensive refurbishment and development of the 112,000 sq ft Star House office building in Maidenhead town centre.
Plans for the four-storey building, which sits on a prominent 1.4-acre site next to the train station at the gateway to the town centre, will see it improve the quality and usability of the site and create a more attractive and sustainable office building. Legal & General is targeting an EPC A and BREEAM Excellent rating.
The refurbishment includes:
The refurbishment of Star House forms part of L&G’s ongoing commitment to futureproof its assets, providing a superior occupier experience and strong ESG credentials. It is estimated that construction, occupation, and management of the building will support up to 3,000 full time jobs.
Construction is set start on site in Q4 2021, with completion scheduled for Q1 2023. The agents are Bray Fox Smith and Knight Frank.
Simon Wilkes, Head of Development, LGIM Real Assets: "We’re delighted to have received unanimous planning approval for Star House; it’s truly testament to the quality and ambition of our proposals.
At LGIM Real Assets, we remain committed to delivering optimum working environments for our occupiers through long-term and proactive investment in our assets. We are modernising the building through a comprehensive low carbon and low energy sustainable refurbishment, with wellbeing and occupier satisfaction at the heart of the scheme.
The repositioned building will deliver enhanced ESG credentials both in construction and in use, and is set to become one of the greenest buildings in the Thames Valley. It’s also estimated that £111 million in social value will be generated over the development lifecycle – bringing significant social and economic benefits to the wider community.
Situated within the heart of Maidenhead, the design led redevelopment will help to drive health, satisfaction and wellbeing, as well as accelerate LGIM Real Assets wider efforts concerning sustainability; this will future proof the asset for years to come."
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 is one of Europe’s largest asset managers and a major global investor, with total assets under management of £1.28 trillion (€1.43 trillion; CHF1.55 trillion; $1.75t trillion; JPY181 trillion)*. We work with a wide range of global clients, including pension schemes, sovereign wealth funds, fund distributors and retail investors. Throughout the past 50 years we have built our business through understanding what matters most to our clients and transforming this insight into valuable, accessible investment products and solutions. We provide investment expertise across the full spectrum of asset classes including fixed income, equities, commercial property and cash. Our capabilities range from index-tracking and active strategies to liquidity management and liability-based risk management solutions.
*LGIM internal data as at 31 December 2020. The AUM disclosed aggregates the assets managed by LGIM in the UK, LGIMA in the US and LGIM Asia in Hong Kong. The AUM includes the value of securities and derivatives positions.
(As of June 2021)
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