What was The Buzz in March?
Our monthly roundup of real estate industry news.
Here are a few of the stories that caught our attention in March. From new workspace debuts and collaborations, to major redevelopments across the UK, there’s no sign of slowing down in the commercial real estate industry.
YOO and IWG Team Up to Launch Club-Style Workspaces
The new concept, rolling out in key markets worldwide, blends high design with flexible working solutions YOO, a residential design brand, is joining forces with IWG, a firm specialising in flexible workspaces, to introduce a new concept that merges design and productivity.
Marking YOO’s first foray into the workplace sector, the five-year partnership will bring thoughtfully designed, technology-driven workspaces to key markets across Europe, North America, South America, Asia, and the Middle East.
Blending YOO’s signature design-forward approach with IWG’s expertise in adaptable work solutions, the collaboration will offer elevated environments tailored to the evolving demands of modern professionals. Each location will reflect its local market and deliver a cohesive experience centered on innovation, functionality, and community.
Luxury workspace provider, The Work Project, signs for debut UK site at Brookfield Properties’ One Leadenhall
The Work Project (TWP), the global luxury workspace provider, has marked its entry into the UK market with its first location to open at prime office tower, One Leadenhall, in the center of the City of London.
Developed by Brookfield Properties, London’s new landmark skyscraper One Leadenhall is approaching completion and will provide 430,000 sq ft of office space over its 35 floors, including ground floor retail space and a public terrace overlooking the adjacent Grade II*-listed, Victorian Leadenhall Market.
Designed by the award-winning architecture practice Make, One Leadenhall is one of the most keenly anticipated new office spaces in the City and is 90% pre-let/under offer ahead of its opening in 2026.
Underpinned by five-star hospitality values and standards, TWP is now targeting a London flexible workspace market which remains resilient and well positioned for continued growth and strategic expansion. TWP aims to fill a gap at the higher end of the market and respond to the flight to top quality by catering for organizations looking for best-in-class workspaces in world-class buildings in prime locations.
Mitsui Fudosan commits to £1.1bn extension of British Library
Global real estate giant Mitsui Fudosan has committed to invest £1.1 billion in the extension of the British Library in London.
The development deal also includes construction of new commercial spaces for the life sciences sector as well as public realm on library-owned land to the north of the existing Grade 1 building. Stanhope will be the development manager for the project, with designs by RSHP and Arup.
Plans include the creation of 100,000 sq ft of new library spaces for research, expanded galleries and business support facilities, as well as a full-height foyer and new public entrances. Around 600,000 sq ft of commercial space will be built, complementing London’s Knowledge Quarter, opening up the library across three sides and connecting it to Somers Town and St Pancras.
British Land get green light for ‘highly sustainable’ redevelopment of unique Euston tower
British Land has secured planning approval to redevelop Euston Tower, into a highly sustainable, world-class building at its Regent’s Place campus in the heart of London’s Knowledge Quarter, home to Europe’s pre-eminent and growing tech ecosystem.
The revised plans will deliver a unique new workspace for the West End and create a new focal point in the skyline. The 31-storey tower will comprise 19,000 sq ft floor plates, 360-degree views across central London, terraces and shared amenity spaces for collaboration, to support a strong ecosystem for businesses to network, generate ideas and launch products.
The plans also feature 4,000 sq ft of restaurant and café space, with terraces overlooking a revitalised public realm, as well as 8,000 sq ft of enterprise space for local entrepreneurs, start-ups and inclusive innovation.
Lendlease gets green light for transformation of iconic Smithfield mixed-use destination
Plans for a major mixed-use building – featuring more than 400 homes and space for bars and restaurants – as part of the landmark £1.9bn Birmingham Smithfield regeneration project have been approved.
Discussed by Birmingham Council’s planning committee on 13 March, the building, proposed by Lendlease and designed by Bell Phillips and Intervention Architecture, would overlook Manor Square and include 408 build-to-rent homes.
It will be the first residential element of the regeneration of Smithfield and is planned to also feature a health and wellbeing-inspired leisure facility, as well as a mix of independent shops, bars and restaurants.
