Our most recent development at Network W1 commenced in June 2022. We have committed to deliver the 137,000 sq ft office-led scheme on a speculative basis given the strength of occupier demand in Fitzrovia. Demolition costs have been fixed in line with budget and we are in discussions with our preferred contractor on the main build contract. Capex to complete is estimated at £107m (Dec 2022). A BREEAM ‘Outstanding’ rating and NABERS 4 Star ratings are targeted.
Network has achieved a Platinum SmartScore certification. A global standard for smart buildings recognising exceptional user experiences, cost efficiency, high standards of sustainability and future-readiness.
Network W1 has been designed as a low carbon building, aligning with our 2025 target of ≤600kgCO2e/sqm which reflects the Greater London Authority’s ambitious requirement.
The scheme will comprise 132,000 sq ft of offices and 5,000 sq ft of retail. The ERV is £11.9m (Dec 2022). In addition, we are providing 23 affordable homes in Tottenham Mews W1.
Completion is due in H2 2025.