en.Wedoany.com Report on Mar 25th, PATRIZIA recently announced that it has received approval from its long-term partner, the Far East Organization, to formally execute the £50 million main construction contract for the redevelopment project at 108 Old Broadway Street in London. The construction work, to be carried out by McLaughlin & Harvey, commenced in early March 2026, with the target of achieving practical completion by August 2027. Located in the heart of London's financial district, the project plans to transform a building constructed in the 1990s into a modern, highly sustainable office building, providing approximately 120,000 square feet of high-quality workspace and increasing the net lettable area by 15%.

Dan Williams, Head of Investment Management Development at PATRIZIA, said: "This appointment marks the transition of the 108 Old Broadway Street project from the permitting phase to the delivery phase, representing a key step in executing our strategy for repositioning core urban assets. With the building vacated and ready, we are advancing construction with a strong team to deliver the significant upper-floor extension, first-class amenities, and an all-electric building strategy." The transformation plan includes an extension on the sixth and seventh floors, a new seventh-floor pavilion with a large landscaped terrace, the introduction of ten landscaped terraces on the upper floors, as well as the addition of a ground-floor café and an upgraded reception area. The office building will adopt an all-electric, smart services strategy, targeting EPC A rating, BREEAM Excellent, and WiredScore Gold certification.

Chris Collins, Pre-Construction Director at McLaughlin & Harvey, said: "We are proud to partner with PATRIZIA on a redevelopment project that combines significant structural transformation with ambitious sustainability goals. Our focus will be on delivering the extension and all-electric building strategy to the highest quality standards while maintaining schedule certainty in a busy urban environment." The office building is designed by Stiff + Trevillion, with Knight Frank and Cushman & Wakefield acting as joint leasing agents. This redevelopment is part of PATRIZIA's pan-European value-add programme and a flagship 'brown-to-green' transformation project, aiming to deliver future-proof office space through design quality and decarbonisation.