Aviva Investors has big plans for its newly acquired Hoxton office
Aviva Investors has snapped up a Grade II listed property in Hoxton as part of the first investment made by the company’s newly launched climate fund.
The investment arm of Aviva has today announced its purchase of Curtain House, a five storey Victorian warehouse in the heart of Shoreditch, London’s hub for technology businesses and the creative industries.
Aviva Investors’ Climate Transition Real Assets Fund will support an extensive renovation project to decarbonise the building.
George Fraser-Harding, Fund Manager at Aviva Investors, said, “Curtain House sits at the intersection between our office and climate transition strategies.”
“With the built environment responsible for a significant portion of UK emissions, it is imperative that existing building stock is brought up to today’s exacting standards through retrofitting energy-efficient technologies, leading to an overall reduction in carbon from the sector,” he continued.
Launched in July, Aviva Investors’ Climate Transition Real Assets Fund provides investors with exposure to a diversified portfolio of climate-focused solutions including the decarbonisation of real estate assets.
In line with the Fund’s target of reaching net zero by 2040, the project aims to raise the building’s EPC rating from its current E-grade to a targeted EPC A-rating through taking multiple sustainability measures.
The site will be converted to an electricity-only operation, complete with a solar array and an air source heat pump system.
The refurbed building will be managed by Aviva Investors as part of its Smart Buildings Programme, which uses smart technology to minimise the energy usage of buildings and has delivered over £1m in avoided energy costs for occupiers to date.
The property will offer over 41,000 square foot of Grade-A office space and a self-contained ground floor unit will continue to be occupied by Blues Kitchen, a landmark restaurant and bar, renowned for its live music performances. Works are expected to begin in August 2022.
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