CBRE Global Investors London Office Development Recognized for Outstanding ESG Credentials
24 May 2021
CBRE Global Investors, on behalf its value-add fund, Europe Value Partners 2 (EVP2), today announced that DUO, 280 Bishopsgate will be significantly enhanced, delivering both WELL Platinum and BREEAM Outstanding certification:
• The largest WELL Platinum office space in the UK and the first to be multi-tenanted
• One of only two BREEAM Outstanding buildings delivering in London this year
The 260,000-square-foot building was acquired with vacant possession in December 2019 on behalf EVP 2, along with funds managed by King Street Real Estate and Arax Properties.
DUO is undergoing a comprehensive refurbishment to be completed in November 2021. The building is approximately 50% pre-let with the remaining 127,256 square feet designed for occupiers that place staff wellbeing of paramount importance.
The building retains its existing structural frame resulting in a significant embodied carbon saving of more than 24,000 tons – the equivalent of 120 acres of deforestation. It also incorporates other extensive environmental and sustainability improvements targeting energy consumption, waste management and air quality monitoring, including the use of air purifying surface finishes.
DUO benefits from a unique 7,800 square foot MoreySmith-designed dual reception spanning over 200 feet in length and connecting Bishopsgate with the green spaces of Bishops Square and Spitalfields. Private terraces are provided on every floor, complementing the extensive Italianate roof gardens and on-site Wellness Suite. In addition to the WELL Platinum and BREEAM Outstanding accreditations, DUO will achieve Cycling Score Platinum, Wired Score Platinum and Airs core Gold.
Christina Forrest, Fund Manager, EVP 2, CBRE Global Investors: “The redevelopment of DUO is an incredibly exciting project in our value-add fund series and we look forward to delivering an asset that will meet the needs of the modern occupier. With the WELL-certified design, we have put people at its core, and we have demonstrated our commitment to responsible investing with the BREEAM accreditation.”
Paul Brennan, Head of European Real Estate, King Street: “The enhancements we are making to DUO alongside our partners at CBRE Global Investors and Arax Properties speaks to the importance of being an active manager and identifying how we can drive long-term value to our real estate investments. Sustainability is critical to our investors, and the end consumer alike and we look forward to bringing these improvements to future occupants.”
Giles Morse, Partner, Arax Properties added: “We are delighted to be able to bring these benefits to our existing and future tenants, reinforcing DUO as a truly next-generation workplace.”
Further information can be found at helloduo.london
About CBRE Global Investors
CBRE Global Investors is a global real assets investment management firm with $124.5 billion in assets under management* as of March 31, 2020. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2020 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees serving clients in more than 100 countries. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers.