February 29, 2024

Barwood tops out flagship Richmond office scheme

Barwood Capital has celebrated the topping out of Explore, its new Grade-A office building in Richmond. The scheme will provide best-in-class office space with leading ESG credentials to the South East market.

Formerly known as Eton House, the building was acquired by Barwood’s Regional Property Growth Fund IV in December 2021 with the aim of repositioning it to prime sustainable office space. The project has involved a full back-to-frame refurbishment, including an additional floor of accommodation and a roof terrace as well as extensive common areas, garden and amenity space.

Delivering much-needed high quality office accommodation, Explore offers 45,000 sq ft of space and is targeting BREEAM Excellent, Net Zero in operation and an EPC A rating. Measures to support energy efficiency and biodiversity include enhancing greening and planting opportunities in both the common areas and private spaces plus electric vehicle charging points.

The redesign also focuses on measures to support employee health and wellbeing, with amenities including 42 cycle parking spaces, communal lounge, a gym plus changing rooms and showers. The scheme has secured WiredScore Gold and is targeting Fitwell accreditation.

The refurbishment has been carried out by RED Construction Group, with Moorevale the development manager for the scheme. A ceremony was held on 10th January, where members of the team gathered to celebrate the building’s topping out.

Adam Smith, Asset Management Director at Barwood Capital, said: “Demand for high quality, sustainable and amenity focused office space remains strong in Richmond, where there’s a shortage of Grade-A accommodation. With sustainability and wellbeing at the forefront of the design, Explore delivers a best-in-class option that meets the priorities of businesses today.”

Mark Iori, Managing Director at RED Construction London, commented: “We are incredibly proud of the role we have played in completely reimagining this scheme from inside-out, creating a high-calibre, future-proofed office product in Richmond. The elements of this milestone scheme called on many of RED Construction Group’s technical specialities and capabilities, and we have enjoyed working alongside such a skilled team for Barwood Capital’s multi-million-pound development. Explore now serves as another example of RED’s experience remodelling existing sites as prime sustainable office space, evolving the workplace with employee mental health and wellbeing at its core.”

Charlie Bishop, Director at Moorevale, added: “As well as its excellent residential provision and good local schools, Richmond enjoys a thriving food and drink scene and has much to offer for businesses and their employees. Quick access to the centre of London via train, plus close reach to the M4, M3 and beyond, further adds to the town’s appeal and we’re expecting strong demand for space at Explore Richmond.”

Andrew Willcock and Oliva Jones of Savills are acting as joint agents alongside Chris Bulmer and Clare Lane of Bray Fox Smith.