#London #United Kingdom #Mitsubishi Estate #Tokyo Tatemono #Shaftesbury Avenue

Major Office Renovation Project Kicks Off at 125 Shaftesbury Avenue in London

The ambitious renovation project at 125 Shaftesbury Avenue has officially commenced in London, backed by numerous notable firms including Mitsubishi Estate, Tokyo Tatemono, Toko Electric Construction, Fuyo General Lease, and EDGE Real Estate B.V. This revitalization effort is in collaboration with Sumitomo Mitsui Trust Bank, the lender for the initiative. The project, which involves transforming an office building constructed in 1982, aims to leverage the expertise gained from both domestic and international development ventures by the involved companies.

The total project budget amounts to approximately £550 million (around ¥104.5 billion, based on a conversion rate of £1 to ¥190). Construction is set to kick off in the summer of 2026, with an anticipated completion date in 2028. Recently, three additional companies—Tokyo Tatemono, Toko Electric Construction, and Fuyo General Lease—have joined this collaborative effort, expanding the partnership to five enterprises.

Features of the Project

• - Located in close proximity to London's vibrant commercial and theater districts, Soho and Covent Garden.
• - Approximately 75% of the existing structure will be preserved, with plans for an additional two floors and an improved atrium area to optimize floor plate usage.
• - The renovation will introduce a new through passageway connecting two formerly linked streets, enhancing local community engagement.

Positioned just a three-minute walk from Tottenham Court Road Station, this project is ideally located in an area celebrated for its diversity and accessibility, enhancing its appeal as a prime office site. The renovation will reuse about 75% of the existing building structure while adding two floors, converting the site from its original configuration of 11 above-ground and one underground floor (totaling approximately 22,862 square meters) to a state-of-the-art office building with 13 above-ground levels and one below ground, totaling around 33,487 square meters.

In a neighborhood known for stringent requirements on landscape preservation, the project will work closely with Camden Council to ensure that the design harmonizes with the area's historical aesthetic. A new passageway will be created on the ground level, connecting Old Compton Street and New Compton Street, with the surrounding area featuring office entrances, retail spaces, and affordable offices aimed at supporting local entrepreneurs, ultimately contributing to community revitalization.

Furthermore, collaborating with EDGE—recognized for their expertise in environmentally sustainable office development—this initiative is set to prioritize resource reuse, material repurposing, energy-efficient facade upgrades, and the incorporation of renewable energy sources, all designed to reduce carbon emissions. Through these efforts, the project aspires to achieve prestigious certifications such as "BREEAM Outstanding," "EPC A," and "WELL Platinum."

Project Overview

• - Location: 125 Shaftesbury Avenue, London
• - Site Area: Approximately 3,590 square meters
• - Design: DSDHA
• - Construction: TBD
• - Commencement: Summer 2026
• - Completion: Late 2028 (overall completion)
• - Total Floor Space:

- Before Renovation: Approximately 22,862 square meters
- After Renovation: Approximately 33,487 square meters

• - Number of Floors:

- Before Renovation: 11 above ground, 1 underground
- After Renovation: 13 above ground, 1 underground

• - Usage:

- Before Renovation: Office 13,075 square meters / Commercial 3,349 square meters
- After Renovation: Office 21,257 square meters / Commercial 1,663 square meters

About the Participating Companies

1. Mitsubishi Estate Co., Ltd.
- Headquarters: 1-1, Otemachi 1-chome, Chiyoda-ku, Tokyo, Japan
- Established: 1937
- CEO: Atsushi Nakajima
- Business: Development and leasing of office buildings, commercial facilities, residential properties, hotels, and logistics facilities.

2. Tokyo Tatemono Co., Ltd.
- Headquarters: 1-4-16 Yaesu, Chuo-ku, Tokyo, Japan
- Established: 1896
- CEO: Katsuto Ozawa
- Business: Development and leasing of office buildings, commercial spaces, residential properties, hotels, and logistics facilities.

3. Toko Electric Construction Co., Ltd.
- Headquarters: 1-4-5 Nishi-Kanda, Chiyoda-ku, Tokyo, Japan
- Established: 1947
- CEO: Takahiro Yamamoto
- Business: Electrical equipment for buildings, renewable energy, power transmission lines, railways, and ventilation systems.

4. Fuyo General Lease Co., Ltd.
- Headquarters: 5-1-1 Kojimachi, Chiyoda-ku, Tokyo, Japan
- Established: 1969
- CEO: Hiroaki Oda
- Business: Leasing and finance services for corporate clients.

5. EDGE Real Estate B.V.
- Headquarters: Amsterdam, Netherlands
- Established: 1999
- CEO: Marian Herman
- Business: Real estate development and management services.

6. Sumitomo Mitsui Trust Bank, Limited.
- Headquarters: 1-4-1 Marunouchi, Chiyoda-ku, Tokyo, Japan
- Established: 1925
- CEO: Kazuya Ooyama
- Business: Finance, consulting, real estate-related services, and more.

Focus on Sustainability and Future Growth

Tokyo Tatemono aims to expand its overseas operations under its long-term vision for 2030, targeting a strategic investment of ¥110 billion for international business during the current mid-term management plan (2025-2027). This upcoming project represents Tokyo Tatemono's inaugural endeavor in the UK. They are committed to harnessing their domestic and international expertise to explore new opportunities that contribute to sustainability, community engagement, and value creation through this project.

Both Toko Electric and Fuyo General Lease echo similar sentiments, aiming to integrate technology and environmental practices into their projects to promote sustainable growth and community enrichment. As they embark on this significant initiative, their collective insights will drive innovative solutions and enhance their presence in the UK market.