PineBridge Benson Elliot wins green light for new City of London office

PineBridge Benson Elliot has achieved planning permission to develop The Mark, a new build sustainable modern office in the City of London, comprising 215,000 ft2 (20,000 m2) office space, alongside 14,000 ft2 of cultural, food & beverage and retail space.

The Mark is being developed on 47 & 50 Mark Lane, with work due to start in 2024 and completion expected for 2026.

Working alongside development manager Hobart Partners, and designed by Danish Architect 3XN the design fuses four architectural blocks into a single floor plate whilst retaining the character and identity of a single building.

The new building will provide a modern occupant focused environment, aiming to achieve Well Platinum, BREEAM Outstanding and a minimum 5-star Nabers rating. Working to the UKGBC framework the project will aim to achieve Net Zero carbon in operation and will aim to achieve an embodied carbon level of less than 500kg Co2/m2.

The Mark incorporates a digitally immersive exhibition hall, with a café/foyer and tourist touchdown space.

Nick Waring, director of development at PineBridge Benson Elliot said: 'The Mark’s leading design will create a new building that enhances the site’s relationship to the existing historic context. Our goal is to create an efficient, truly green, flexible environment for all its occupants. The building will be long-lasting and adaptable, with sustainability and circularity at its core.'

Huw Griffiths from Hobart said: 'We are very proud of what the team have achieved working with the City of London and believe this building will emerge as one of London’s most holistically sustainable buildings that gives back to the community, creates a positive impact on this historic environment and will be a place that people will want to be and can be well.'

Speaking at last week's Expo Real, Shravan Joshi, chairman of the City of London’s planning and transport committee, told PropertyEU that there was still a need to construct new offices in the City despite shifting trends around the future of work.

Joshi said: ‘Twelve months ago, we were recording figures of around 550,000 employees in the City. Today there are 580,000 employed people, and forecasts suggest that will keep growing up to 2040.

‘That means a need for around 1.9 million m2 of space by 2040, taking into account a hybrid working model. Compare that with our current planning pipeline of 500,000 m2, and another 500,000 m2 under construction, and there’s still room for more development.'

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