1 Threadneedle Street, EC2: refurbished building is fully let to Nationwide


schemes are the same, with the range of possible options resulting in hugely varying costs.


He highlights a recent project that


involved cutting a new core through 1 Threadneedle Street, EC2, to provide a prized view of the City of London upon entering the office floor from the lifts. The cost was more than £200 per sq ft


based on the net lettable space, but the investment paid off. The entire 57,000 sq ft building, owned by German fund SEB, was let to Nationwide last year and is thought to be achieving £60 per sq ft on the upper floors. More simple refurbishments might be achieved for around £100 per sq ft – but, of course, return far less in rent. Refurbishment may not always be the


simple option. Design specialists point out the wide range of thought processes that an occupier is likely to consider before signing on the dotted line. “An occupier is typically going to be


looking at three or four alternatives and they have to think about their future needs as well as their existing ones,”


CHANGING THE GAME FOR STRATFORD Talk to our London game changers at: realestateforachangingworld.co.uk


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