The approval of a new high-profile retrofit scheme in London’s Gresham Street is an example of the City of London corporation embracing a lower carbon alternative to deliver new development within the City. The scheme will see much of the existing building being retained and built upon rather than demolished and redeveloped.
The RICS sustainability report published in November last year identified the need for the industry to look closely and measure the carbon emissions across the whole life cycle of a building. Effective retrofit offers an opportunity to deliver high quality development without the carbon impact of the demolition and rebuild cycle.
This is a great example of a retrofit project being brought forward in a high-profile location which will offer retail, residential and new public realm spaces. Occupier demand for green and sustainable buildings is on the rise and we can therefore expect to see more developers responding by seizing opportunities like this one to deliver new schemes which have a lower carbon impact.