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."
Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with over £1.2 trillion in total assets under management* of which 39% is international. We have a unique and highly synergistic business model, which continues to drive strong returns. Legal & General provides powerful asset origination and management capabilities directly to clients, which also 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. Our purpose is to improve the lives of our customers and create value for our shareholders. Through inclusive capitalism, we are investing in long-term assets, such as real estate and infrastructure, that can help build a better society for the future.
*as at HY 2023
Legal & General Investment Management
LGIM is one of Europe’s largest asset managers and a major global investor, with total assets under management of £1.16 trillion1 ($1.47tn, €1.35tn, CHF 1.31tn). We work with a wide range of global clients, including pension schemes, sovereign wealth funds, fund distributors and retail investors.
For more than 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.
1 Data as at 30 June 2023. Data combines assets under management by LGIM in the UK, LGIMA in the US and LGIM Asia in Hong Kong.
Assets under management include securities and derivatives positions
*as at HY 2023