'Green' Barbican offices set following acquisition

A London property investment firm as announced the acquisition of one Golden Lane, as part of its renewed strategy for investment in London’s commercial market.

The Grade II listed building, situated in the Farringdon area between the Barbican Centre and the Golden Lane Estate, started life in 1896 as the home of the Cripplegate Institute, a charitable foundation set up by the City of London.

Designed by Tate Britain architect Sidney Smith, it once incorporated a reference library and a theatre.

The investment firm, Castleforge, plans to fully refurbish the 106,892 sq ft office building to deliver a best-in-class workspace, meeting the highest possible BREEAM certification standards for sustainable and green office buildings.

As part of the renovations, the internal structure will be redesigned to deliver a low carbon impact with improved quality airflow, energy efficiency and SMART technology to automate the building’s systems to be responsive to tenant needs.

Michael Kovacs, founding partner of Castleforge Partners said: “We are thrilled to announce our acquisition on this prime site by the Barbican at 1 Golden Lane. This purchase will kickstart our renewed strategy to focus investment on London’s commercial market, driven by research we have been undertaking here at Castleforge.

“The market has not yet realised the true cost of upgrading old stock to meet modern standards and this issue can only be addressed by investors who are well-capitalised with the capability to deliver this grade of space.

“By undergoing a state-of-the-art refurbishment process, 1 Golden Lane will become one of the most premium and green office spaces in London and we look forward to unveiling the refreshed building for occupiers and local stakeholders alike.”

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