PwC’s Embankment HQ to get major makeover ahead of Canary Wharf move
The current headquarters of Big Four giant PwC at 1 Embankment Place is set to be transformed into a “sustainable workspace” in a bid to attract and retain major firms as renters, as it awaits planning permission.
City-based property and asset management firm Bridgemont said on Friday it has submitted a planning application to Westminster City Council to “transform” the current air-rights development located above Charing Cross Station, which PwC will leave in 2030 as the firm relocates to Canary Wharf.
The redevelopment proposals boast a 35,000 sq ft space tailored to businesses as well as a new purpose-built gateway between the West End and the South Bank with “premium, well curated” retail and leisure options including new spots to eat and drink to a create a “highly flexible, amenity-rich workspace in one of the capital’s most connected locations.”
The planning application follows two rounds of public consultation and will preserve approximately 90 per cent of the building’s existing structure, which was completed in 1991 and designed by Sir Terry Farrell.
The re-design is in part being led by Sir Terry’s son, Max Farrell, to ensure the original design is respected.
The proposals flaunt a series of sustainability targets, including aiming to reduce operational energy use by 70 per cent compared with the current building, and be a fully decarbonised, all-electric building that avoids using fossil fuels.
1 Embankment Place’s sustainable overhaul is being led by the City-based architects, Hopkins, who specialises in creating environmentally-friendly buildings.
“Submitting this application is a significant step in delivering the transformational improvements needed to secure its future for generations to come,” Hopkins principal Mike Taylor said.
PwC joins the Canary Wharf cohort
This follows the Big Four giant in July picking One Eden in Canary Wharf to be its new London headquarters, swallowing up 350,000 sq ft of space and joining the growing financial hub.
The building currently serves as banking giant Citigroup’s European, Middle East, and Africa headquarters, and was used to accommodate extra staff during its recent £1bn overhaul of the neighbouring 25 Canada Square building.