Canadian investment giant Brookfield Properties has lodged its plans for a major "retrofit-first" redevelopment of Milton Gate, law firm Addleshaw Goddard's to-be-vacated headquarters in the City of London.
Designed by Allford Hall Monaghan Morris, the proposals seek to redevelop the prominent City office near Moorgate, retaining 70% of the structure. Brookfield said the development will create an "amenity-rich, sustainable office building capable of meeting the evolving demands of the City, its occupants and the local community".
The plans would increase the size of the building by close to 50%, from 200,000 square feet to 290,000 square feet of offices with access to west facing terraces on all floors.
Brookfield says that following an extensive consultation period, the design of Milton Gate has evolved to address the key priorities of consultees – height, sustainability and placemaking.
It said the proposals seek to: remain respectful of the height of the existing building, whilst improving the utilisation and biodiversity of the site and visual appearance of the roofscape; adopt a retrofit-first approach, retaining 70% of the existing structure, whilst delivering an all-electric building with leading sustainability credentials; and enhance the street level experience of the building with active frontages, urban greening and a facade design and cultural strategy inspired by the "rich history of the area".
The submitted plans include a new ground floor with a flexible retail and food and beverage offering along Chiswell Street, repositioned entrances to improve the building’s connection with the primary transport nodes of Moorgate and Liverpool Street and the "activation and enlivening" of Moor Lane.
Brookfield added: "The proposals for Milton Gate are aligned with Brookfield Properties’ vision to deliver high quality, energy efficient and community enhancing developments that can support the City of London’s growth and sustainability targets and meet the aspirations of the future workforce."
Brookfield bought Milton Gate from Chinese life insurance company Taikang Life for around £215 million in 2021. The entire property was let to Addleshaw Goddard on a single full repairing and insuring lease for 16 years and six months from 20 March 2008 expiring on 19 September 2024.
In 2022, Addleshaw Goddard completed a prelet of 114,000 square feet of offices for a relocation to Pembroke's 41 Lothbury in the City, in a deal first revealed by CoStar News.
In London, Brookfield has developed over 3 million square feet including London Wall Place, Principal Place, 100 Bishopsgate, and One Leadenhall.