Case study
Buckingham Green
Buckingham Green comprises three separate buildings at 64 and 65 Buckingham Gate and 1 Brewers Green. The buildings were acquired in 1994 when 64 Buckingham Gate was the London HQ of Rolls Royce PLC.
The original buildings comprised approximately 110,000 square feet of mixed use space including offices, retail and 44 residential apartments.
Location: 64 & 65 Buckingham Gate, SW1, City of Westminster
Investment date: February 1994
Opportunity: Prime Freehold rental income with development potential
Purchase price: £36m
Opportunity
The original buildings dated back to 1978 and had reached the end of their natural life.
Two of the buildings were interconnected which spoilt the natural pedestrian movement across the site along with several changes of level on the ground floor which further detracted from the site’s accessibility.
The Tower building had very inefficient core arrangements and we looked to see how we could improve this and by so doing, improve the Net Lettable Area.
Value added
During the initial feasibility stage we appointed Fletcher Priest Associates as Architect through a design competition.
Through further consultation we successfully achieved planning consent to completely remodel the site. This allowed us to demolish and rebuild The Caxton building and demolish and rebuild the Gate House on Butler Place.
The Tower was totally reconfigured to give us more effective commercial space and we increased the number of residential units from 44 to 65 including adding an additional 16th floor for a single 6,500 Penthouse.
The new lettable area was increased by approximately 25% to 130,000 square feet.
Our core objectives
We strive to produce projects of exemplary and world class design but we are fully mindful of our environmental responsibilities and will always try to incorporate sustainability, biodiversity and social value where possible.
