CBRE Investment Management Completes Landmark Letting to Moody’s at City Office Building 10 Gresham Street

CBRE Investment Management (“CBRE IM”) has let 110,862 sq ft with a further 32,403 sq ft as option space at 10 Gresham Street, its comprehensively refurbished and highly sustainable Grade A office building in The City of London to Moody’s, in a move that will see the global provider of data, intelligence and analytical tools relocate its European Headquarters from Canary Wharf.

The Foster + Partners designed building has been entirely reimagined for the new world of work by leading architectural practice, Gensler, to deliver a high-performance office environment with a focus on sustainable resource use. The 145,000 sq ft office refurbishment will introduce a 2,576 sq ft private roof terrace for Moody’s with a further 2,570 sq ft communal roof terrace featuring a dramatic eight-story glazed atrium, with a communal indoor rooftop pavilion totaling 1,750 sq ft, providing unrivaled panoramic views of St Paul’s Cathedral and City tower cluster.

The roof terrace is divided into a series of distinct zones, from outdoor meeting areas and flexible event space to a sensorial garden. Active travel has also been encouraged as part of the building’s transformation, with the provision of luxury shower and changing facilities, 480 cycle spaces and lockers.

Throughout the refurbishment, a commitment to recycling and repurposing materials ensured embodied carbon was minimized. The building’s original structure, including its iconic façade, was preserved, saving 17,000 tons of carbon dioxide. The works have created a more efficient building for the next phase of its life cycle, improving its operational energy use by 46% and resulting in a 72% reduction in operational carbon over the building’s service life.

Following its refurbishment, 10 Gresham Street is targeting BREEAM Outstanding, WELL Platinum, an EPC B rating, and 250 kg CO2/m2 Embodied Carbon, which is 67% below RIBA 2030 Carbon Target.

Doug Ryker, Moody’s Managing Director - Real Estate & Workplace Strategy said, “Our move to 10 Gresham Street reflects our ongoing commitment to investing in our people and delivering a world-class employee experience. We look forward to creating a new, modern office environment that helps us foster meaningful connections, collaboration, and innovation.”

“In 10 Gresham Street, Moody’s has found a highly sustainable new base for its valued employees, one that combines innovative architectural design with high quality amenities, and exceptional environmental credentials in a prime City of London location,” said Matthew Barratt, Director and Office Asset Manager at CBRE IM. “In line with CBRE IM’s strategic commitment to investing in sustainable real estate, the renovation will transform this iconic London building into a high-performance, super prime workspace focused on employee health and wellbeing, in keeping with the needs and expectations of modern workers.”

Knight Frank advised CBRE IM and Cushman & Wakefield advised Moody’s.

CBRE Investment Management (“CBRE IM”) has let 110,862 sq ft with a further 32,403 sq ft as option space at 10 Gresham Street, its comprehensively refurbished and highly sustainable Grade A office building in The City of London to Moody’s, in a move that will see the global provider of data, intelligence and analytical tools relocate its European Headquarters from Canary Wharf.

The Foster + Partners designed building has been entirely reimagined for the new world of work by leading architectural practice, Gensler, to deliver a high-performance office environment with a focus on sustainable resource use. The 145,000 sq ft office refurbishment will introduce a 2,576 sq ft private roof terrace for Moody’s with a further 2,570 sq ft communal roof terrace featuring a dramatic eight-story glazed atrium, with a communal indoor rooftop pavilion totaling 1,750 sq ft, providing unrivaled panoramic views of St Paul’s Cathedral and City tower cluster.

The roof terrace is divided into a series of distinct zones, from outdoor meeting areas and flexible event space to a sensorial garden. Active travel has also been encouraged as part of the building’s transformation, with the provision of luxury shower and changing facilities, 480 cycle spaces and lockers.

Throughout the refurbishment, a commitment to recycling and repurposing materials ensured embodied carbon was minimized. The building’s original structure, including its iconic façade, was preserved, saving 17,000 tons of carbon dioxide. The works have created a more efficient building for the next phase of its life cycle, improving its operational energy use by 46% and resulting in a 72% reduction in operational carbon over the building’s service life.

Following its refurbishment, 10 Gresham Street is targeting BREEAM Outstanding, WELL Platinum, an EPC B rating, and 250 kg CO2/m2 Embodied Carbon, which is 67% below RIBA 2030 Carbon Target.

Doug Ryker, Moody’s Managing Director - Real Estate & Workplace Strategy said, “Our move to 10 Gresham Street reflects our ongoing commitment to investing in our people and delivering a world-class employee experience. We look forward to creating a new, modern office environment that helps us foster meaningful connections, collaboration, and innovation.”

“In 10 Gresham Street, Moody’s has found a highly sustainable new base for its valued employees, one that combines innovative architectural design with high quality amenities, and exceptional environmental credentials in a prime City of London location,” said Matthew Barratt, Director and Office Asset Manager at CBRE IM. “In line with CBRE IM’s strategic commitment to investing in sustainable real estate, the renovation will transform this iconic London building into a high-performance, super prime workspace focused on employee health and wellbeing, in keeping with the needs and expectations of modern workers.”

Knight Frank advised CBRE IM and Cushman & Wakefield advised Moody’s.

About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $142.5 billion in assets under management* as of June 30, 2024, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.

CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.

*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management 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 Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.

About Moody’s
In a world shaped by increasingly interconnected risks, Moody’s (NYSE: MCO) data, insights, and innovative technologies help customers develop a holistic view of their world and unlock opportunities. With a rich history of experience in global markets and a diverse workforce of approximately 15,000 across more than 40 countries, Moody’s gives customers the comprehensive perspective needed to act with confidence and thrive. Learn more at moodys.com.