The surge reflects a strategic shift toward refurbishing ageing office stock ahead of stricter UK energy efficiency regulations due in the early 2030s. Cushman & Wakefield estimates that 76% of central London office buildings risk becoming obsolete without upgrades. Blackstone is refurbishing Broadgate Quarter in the City of London, adding fully electric heating and cooling systems alongside new fitness facilities. Managing director James Rosenfeld said the goal is to attract 'tenants who are willing to pay a premium in order to be in buildings with those characteristics.' Brookfield has secured approval to redevelop 99 Bishopsgate by retaining the foundations and rebuilding the structure to improve energy efficiency. UK president Dan Scanlon said: 'We've orientated this building so that, effectively, you've got a lot of solid elements on the south face of the building to protect against the sun in the heat of the day.' Other investors including DWS, Hines, and Henderson Park are...
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